I answered this question on March 13th:
The OP put in a comment to my answer that he was going to award a bounty because he appreciated my answer so much. Note that the answer wasn't accepted for two days (and the OP noted that it was intentional), it is the only answer, and to date it has 39 up votes. Yet in the revisions it says "Bounty ended with no winning answer."
After reading the FAQ I gather this is because the OP didn't feel a bounty was warranted until after he read my answer.
If this is the way the bounty system is supposed to work, it seems wrong. The OP clearly wanted to reward me for the effort I put into solving his problem, but it seems that if he was offline when the bounty expired, then the only way anyone could have received the bounty is if someone else came along, provided an additional answer, and got two up-votes. In which case the system would assume that this must be a superior answer because it was in response to a bounty, instead of the other way around.
To me this seems like a no-brainer situation where the bounty should have been automatically awarded. Or manually when I raised a flag about it (which was simply declined with the meta URL). Instead it was just wasted, presumably because the OP didn't log into he site after being told to manually award the bounty. Perhaps there should be a way for a bounty to be associated with an existing answer so that it automatically gets awarded as the OP intended - instead of being used solely as bait for new answers.