On May 2, 2014, the Universal Service Administrative Company (USAC) released their quarterly report for the third quarter of 2014. The Schools and Libraries Division (SLD) estimates that they have $600 million from previous years that can be carried forward into Funding Year 2014. The $600 million figure is unchanged from the previous quarterly report. The unused funds are from the following funding years:
- 2002: $40 million
- 2007: $30 million
- 2009: $70 million
- 2010: $380 million
- 2011: $80 million
The FCC released a Public Notice on May 2, 2014 and directed USAC to use $200 million of the potential $600 million to rollover into FY 2014, in order ensure that all priority one applications can get funded. This decision leaves $400 million available for the FCC for future E-rate modernization efforts.