On July 18, 2012, the FCC formally approved a rollover of $1.050 billion for Funding Year 2012. Combined with the 2012 funding cap of $2.338 billion, the total amount of funding available for distribution in Funding Year 2012 will be $3.39 billion.
The announcement comes just eight days after USAC Chief Operating Officer Richard Belden filed a letter with the Commission stating that USAC had identified an additional $650 million in unused funds from prior funding years that could be added to $400 million that had been previously identified. USAC’s letter stated their belief that a $1.050 billion carry-over will “be sufficient to make commitments at the 90% discount level for Priority 2 requests for Funding Year 2012.”
