What is Carryover?
Automatic Carryover
Restricted Carryover
How to Determine Project Balances
How to Request Sponsor Approval to Carryover Unobligated Balances
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Carryover is a process through which unobligated funds remaining at the end of the budget period may be carried forward to the next budget period. The carryover of funds allows the recipient to access the unused prior year funds in the current budget period. Award terms and conditions will define whether carryover is automatic or restricted.
If the sponsor does not impose restrictions on carryover, the award is referred to as having “automatic” carryover and prior approval is not required in order to spend prior year funds in the current budget period. Awards that allow automatic carryover may be set up in a project(s) that encompasses the entire period of performance. The project number(s) may remain the same for the life of the project.
Note: Many progress reports, such as NIH RPPRs, require reporting estimated unobligated balances if they are expected to be greater than 25% of the current year’s budget along with an explanation and expenditure plan for those funds.
If the sponsor imposes restrictions on carryover, the award is referred to as having “restricted” carryover and prior approval is required in order to spend prior year funds in the current budget period. Awards that have restricted carryover must be set up in a separate project(s) for each budget period. A new project number(s) will be established for each budget period in order to separately account for each budget period’s funds.
Note: Establishing a new project number(s) each year allows C&G Accounting to issue a financial report which identifies expenditures specific to each budget period and determines the unobligated balance that will require sponsor approval to carryover.
Use myinvestiGator to determine a project’s unobligated balance or contact your Grant Accountant in C&G Accounting.
If you have questions regarding carryover of unobligated funds from one budget period to the next, please contact your assigned C&G Grant Accountant or DSP at ufawards@ufl.edu.
Last updated 11/15/24