Wave 16 for FY 2016, released last Monday, totaled $45.9 million. Cumulative national funding through Wave 16 is $694 million. Wave 17 is scheduled for release today, October 17th.
Funding delays, particularly for large applications, continue to be a problem for applicants and service providers alike. The CEO of one public technology company recently explained disappointing third quarter revenues stating: “The pace of E-Rate funding approval letters slowed significantly in the last weeks of the third quarter. As of the end of the quarter, funding approvals for the program were running nearly 70 percent below the pace of last year.” Commenting on fourth quarter expectations, the company noted that its outlook “…assumes no improvement in the pace of E-Rate funding approvals.”
USAC will release Wave 66 for FY 2015 on Wednesday, October 12th. Cumulative funding through Wave 65 is $3.31 billion.