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The process was so successful that nearly half the fund was returned unspent, to fund broadband TV rollout and local TV.
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The downside is that someone who died at a relatively young age might have had unspent money to leave to heirs if it had not been put into an annuity.
State officials say they were allowed to use unspent money to keep those employees on through April 14.
"We are pivoting" – "Yeah so at this point we have absolutely no idea what we're doing, but we'll be damned if we have to return unspent capital to our investors.
The New York City Education Department said Monday that it would allow principals to roll more money than anticipated from this year's budget into next year's, but that they would still have to return some unspent money to the school system headquarters.
Anecdotal evidence suggests that a large part of government resources made available by multilateral institutions and earmarked for HPSR may go unspent due to the low priority to research assigned by decision makers, the lack of capacity to undertake the competitive tendering required and the lack of competitive bidders [ 18, 19].
No longer will each Democrat be given $200,000 to dole out or be able to carry over any unspent money to the next year.
At the time, this was considered a victory for the highway lobby, since Congress had been allowing unspent money to accumulate in the Trust Fund to make the federal budget deficit look smaller.
Recognizing the abuse and waste of taxpayer funds, former Assemblyman Anthony Portantino introduced legislation three years ago that would have required fund oversight, limited the fund to legislative business and returned unspent money to the treasury.
At the time George Osborne said he wanted people to be able to take control of their pension savings, and hand any left unspent over to their families when they died.
However, while the House looks apt to approve the package ― which would cut roughly $7 billion from the Children's Health Insurance Program (CHIP), $4.3 billion from a government vehicle loan program and more than $100 million in unspent funds to address Hurricane Sandy damage ― the White House said it looked forward to having a "conversation" with the Senate.
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