When there are unspent funds remaining at the end of a sponsored award budget period, principal investigators (PIs) can request a carry forward (carryover) action, which allows the unspent funds to remain available for use in the current or upcoming budget period.
Your award document includes terms and conditions which indicate whether the grantee can carry forward funds into the next budget period. If there is no information in the award document concerning the carry forward of unencumbered funds, your SAM administrator will contact the sponsor for clarification. Federal agencies typically allow grantees to carry forward balances to subsequent budget years without prior approval and no specific action is required of the PI.
Carry Forward (Carryover) Request Procedure
In cases where funds are not carried over automatically, it is necessary for your SAM administrator to request approval from the sponsor. The request for carry forward should be emailed to your SAM administrator and must contain the following elements:
- PI name
- Award number
- End date of project
- Anticipated amount of carry forward
- Explanation of why these funds weren't encumbered and how these funds will be used to achieve the objectives in the scope of work for the reference sponsored project
- Update on progress of project deliverables and what deliverables will be completed using the carry forward funds.
Your SAM administrator will work with your Grants & Funds Management accountant to prepare and submit a request for carry forward approval to the sponsor. Upon receipt of approval, SAM will authorize the carry forward.