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This document is used to request approval for the carryover of unobligated balance in projects without requiring agency approval. It includes sections for details about accounts affected, amounts
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How to fill out request and approval for
How to fill out Request and Approval for Carryover of Unobligated Balance
01
Obtain the Request and Approval for Carryover of Unobligated Balance form from your financial administration office.
02
Review the guidelines for eligibility to ensure that your request is valid.
03
Fill in the 'Project Title' and 'Project Number' sections of the form.
04
Detail the unobligated balance you wish to carry over in the specified field.
05
Provide a justification for the carryover, explaining the reason why the funds were not obligated.
06
Include any supporting documentation that may strengthen your request.
07
Sign the form and date it to confirm your submission.
08
Submit the completed form to the appropriate approval authority as per your organization’s protocol.
Who needs Request and Approval for Carryover of Unobligated Balance?
01
Project managers or principal investigators who have unobligated funds.
02
Organizations or departments managing grants or budgets that require approval to carry over unspent funds.
03
Financial administrators overseeing budget compliance and fund allocation.
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People Also Ask about
What is a balance carryover request?
A carryover is the forwarding of an unspent balance of funds from a previous budget period to a subsequent budget period, allowing you to complete previously approved, but unmet activities. No new activities or salary increases are allowed.
What is a balance carryover?
The carryover balance shows the portion of available hours carried over from the previous period. Because there is an expiration date for the carryover, resources lose these hours as of a certain date. Carryover balance is used only if there is an expiration date for the carryover.
What is the carryover of unobligated balances?
Carryover is forwarding an unobligated balance of funds from current budget year to cover allowable costs in a future budget year.
What is carry-over balance?
Carryover is forwarding an unobligated balance of funds from current budget year to cover allowable costs in a future budget year.
What is the unobligated balance of funds?
Unobligated balance means the amount of funds under an award or subaward that the recipient or subrecipient has not obligated.
What are carryover funds?
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 Grantees to use the unused prior year funds in the current budget period.
What is a carryover request?
A carryover is the unspent or unobligated balance of funds from prior budget periods that the recipient may request to use in the. current budget period for unmet needs supporting the goals and objectives of the project.
What does unobligated balance mean?
Unobligated balance means the amount of funds under an award or subaward that the recipient or subrecipient has not obligated.
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What is Request and Approval for Carryover of Unobligated Balance?
It is a formal process that allows organizations to carry over unspent funds from one fiscal period to the next, subject to approval.
Who is required to file Request and Approval for Carryover of Unobligated Balance?
Organizations or entities that have unspent appropriations at the end of a fiscal period and wish to use those funds in the next period are required to file this request.
How to fill out Request and Approval for Carryover of Unobligated Balance?
To fill out the request form, an organization must provide details such as the amount of unspent funds, justification for the carryover, and a budget plan for the use of these funds in the next fiscal period.
What is the purpose of Request and Approval for Carryover of Unobligated Balance?
The purpose is to ensure that organizations can utilize unspent funds effectively in the subsequent fiscal period, promoting fiscal responsibility and resource optimization.
What information must be reported on Request and Approval for Carryover of Unobligated Balance?
The report must include the total unobligated balance, reasons for carryover, the proposed budget for the upcoming period, and any relevant justifications for the request.
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