How is unobligated budget balance calculated?
The total approved budget equals the current fiscal year award authorization plus any approved carryover of funds from a prior year(s). The numerator equals the total amount available for carryover and the denominator equals the current year’s total approved budget.
What is NIH unobligated balance?
Often Sponsors request Grant Holders to report on their estimated unobligated balance; that is, the estimated amount of unspent funds at the end of the current budget year (BY).
What is unobligated balance?
Unobligated balances are the amounts of budget authority that have not yet been committed by contract or other legally binding action by the government. • Obligated balances are the amounts of obligations already incurred (for example, contracts signed) for which payment has not.
What happens to unobligated funds?
Normally at the end of each year, the unobligated balances in credit liquidating accounts are returned to the Treasury because the amounts can only be used to liquidate obligations incurred in the year the amounts are collected.
What does unobligated mean?
: appropriated but remaining uncommitted by contract at the end of a fiscal period.
What is an unliquidated obligation?
An unliquidated obligation is an invoice that the grantee has allotted money to pay, but it has not been paid because the invoice has not come into either from a subcontract support or from any other obligation.
What is an NIH offset?
An offset is the use of the unobligated funds to partially or fully fund a future budget period. Prior Approval Requirements. Most grants have automatic carryover authority, and grantees do not have to request approval from the NIH in order to carry over funds from one budget period to the next.
What are carryover funds?
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 is unobligated fund?
Unobligated funds means all funds for which no liability exists at the expiration of the contract. Sample 2. Sample 3. Unobligated funds means those BPA funds that have not been earmarked for a specific project expenditure.
What is an unobligated fund?
What is unobligated time?
By Alison Clarke, Director of Community Recreation. Leisure is unobligated time or “free time.” It is an attitude or emotional state of mind that creates a positive experience and contributes to overall wellness. When physical or emotional challenges occur, activities once enjoyed are often not considered critical.
What is unliquidated balance?
Budgeted amount that is not yet utilized or committed.