I have a fiscal year client (7/31/2020 year end) who elected to apply for forgiveness using the 24 week option. The 24 week period covers 4/16/2020 – 9/30/2020. If using the FIFO method the funds would have been fully utilized by 6/30/2020 – which is within their 2019-2020 fiscal period. I am unable to find guidance on if we use the funds on a FIFO basis (I assume that this is the case) or can the funds be used concurrently with cash to “stretch” out the weeks the PPP’s funds covered? Is it possible to split the usage of the funds over two separate fiscal periods (a portion of the PPP funds allocated to 19-20 and the other portion to 20-21)? I should also mention that forgiveness for the entire loan has been received.