Blurry snapshot

Somehow, I found myself looking at USAC's third quarter projections on the USF, released April 26th.  E-Rate geek that I am, I still found it too tedious to wade through the whole thing, but the tables show a few interesting factoids:

1. Historically, disbursements have been 70-80% of commitments.  That's not too surprising.  I would have guessed a little higher.  What surprised me is that P2 disbursements are only a little lower than P1.  I would have expected to see a lot more P2 unused, since they get approved so late.  But I guess it's easier to use service substitutions to ensure you spend all your P2.
2. Only about 20% of 2011-2012 commitments have been disbursed.  Assuming that disbursements will eventually reach the same level mentioned above, that means that about 30% of disbursements that will eventually be made had been made as of April 26th.  Not surprising for P2, but I would have expected more of P1 FRNs to be paid by SPI, and those FRNs should have been about 75% disbursed.  I guess the BEAR rules.
3. For FY 2010, only about 40% of Internal Connections commitments had been disbursed.  Assuming that the percentage will eventually previous levels, that means something like a third of the disbursements had not been made 9 months after the end of the funding year.
4. Total commitments for 2011 was just over $2 billion.  So with the funding year almost over, only two thirds of the funding has been committed.