Yes. Formula funds are not an entitlement.

(a) Notification. If AmeriCorps rejects an application submitted by a State Commission under part 2550 of this chapter for funds described in § 2521.30 of this chapter, AmeriCorps will promptly notify the State Commission of the reasons for the rejection of the application.

(b) Revision. AmeriCorps will provide a State Commission notified under paragraph (a) of this section with a reasonable opportunity to revise and resubmit the application. At the request of the State Commission, AmeriCorps will provide technical assistance to the State Commission as part of the resubmission process. AmeriCorps will promptly reconsider an application resubmitted under this paragraph.

(c) Redistribution. The amount of any State's allotment under § 2521.30(a) of this chapter for a fiscal year that AmeriCorps determines will not be provided for that fiscal year will be available for redistribution by AmeriCorps to the States, Territories and Indian Tribes with approved AmeriCorps applications as AmeriCorps deems appropriate.