What phase follows the "expired" phase of funds?

The phase that follows the "expired" phase of funds is the "canceled" phase. Once funding has expired, it means that the time period during which obligations could be made against those funds has ended. In this context, the funds can no longer be obligated or spent, leading to the cancellation phase where the funds are effectively de-obligated and used to reconcile accounts.

In the canceled phase, any remaining unexpended balances are canceled and cannot be used for spending or new obligations. This ensures fiscal responsibility and compliance with budgeting laws. The transition from expired to canceled signifies that the agency cannot incur any more expenses against those funds, reinforcing the importance of timely fund management and the need to utilize resources within their designated time frames.

The other phases do not accurately represent what follows an expired fund status. For instance, the "current" phase refers to funds that are still available for obligation, while the "obligated" phase describes funds that have already been legally committed for a specific purpose. The "restricted" phase usually pertains to funds designated for particular uses but does not directly relate to the status of expired funds.