| ||Attached is the revised case study with other minor and more significant changes. The version with markup in its file name has red circles highlighting were significant changes that have been made. The other is a clean copy without the markups.
Even though regulatory language is updated to cite the April 7, 2009 draft that will be used at next week’s negotiated rulemaking sessions, there is no change compared to the April 3rd draft previously cited.
The most significant changes occur in Years 2 and 3 due to a revision to the treatment to continuing awards and ratable reduction that more directly follows the draft regulatory language. By using the enrollment data previously, rather than the prior year allotment, ratable reduction amounts were not accurate for Year 3. For Year 2, the outcome is unchanged; the change reflects that there is, in fact, no formula calculation since the prior year amount carries over to Year 2 for continuing awards.|