What You Should Know
For most federal awards, PIs have the option to carry forward unspent funds from the ending budget period to the new budget period without prior approval. If the award has restricted carryforward, sponsor approval is required. After ORPA receives sponsor approval, ORPA will establish a new activity under the same project.
See example below:
|Same Project||New Activity|
|Project 10004321||Activity 101 (Prior Budget Period)|
|Project 10004321||Activity 102 (New Budget period with carry forward approval)|
IMPORTANT: If sponsor approval is required to carry forward unspent funds, then these funds will be held in a temporary restricted budget account until official sponsor approval is received. Once approved, the funds will be transferred to the new budget period.