Title
Office of Sponsored Programs - 500.21 - Carryover of Unobligated Balances
Purpose
Careful consideration of reporting variables combined with scrupulous accounting practices is necessary to safeguard the University's integrity and provide maximum recovery of Facilities and Administrative Costs (F&A) for balances remaining at the end of a sponsored project.
Policy Statement
Sponsored research funds are subject to numerous variables that can affect financial reporting accuracy and subsequently, full recovery of research expenditure costs. It is essential for Principal Investigators (PIs) and Departmental Administrators (DAs) to carefully consider these variables when determining financial expenditures and discuss inquiries about them with the Office of Sponsored Programs (OSP).
I. Carryover
Carryover funds are not automatically added to the total amount budgeted for the subsequent year. Therefore, it is imperative that PIs and DAs familiarize themselves with the nuances of the carryover process to accurately monitor and report expenditures.
A formal request for carryover of unspent funds from one funding period to the next requires approval from the sponsor and must be made via OSP. Requests for carryover must also be made for awards under the Federal Demonstration Partnership (FDP). Since carryover is specific to each awarding agency and is addressed in the award terms and conditions, inquiries regarding carryover must be made to the appropriate Sponsored Projects Specialist (SPS) in OSP.
II. Applying Split F&A Rates
When there is a change in the Federally-negotiated F&A rates, OSP implements a timeline for bridging old F&A rates to current F&A rates, depending on the official start date of a given award. When working with award expenditures, this timeline serves as the foremost guide in determining the applicable F&A rate. This also applies when planning new proposal budgets.
III. Fringe Benefits Rates
Fringe Benefit rates are reviewed and adjusted annually. It is important that DAs remain aware of annual rate adjustments applicable to awards under their administration.
Related Requirements
Unit Policies, Standards, & Procedures
Contact Information
For questions regarding this operating standard and its related procedure, please contact SponsoredPrograms@unc.edu.
For questions regarding Pre-Award management or Post-Award administration, please contact the assigned SPS.
For invoicing, reporting and other financial matters, please contact the assigned Sponsored Projects Accountant. OSP Staff assignments are found in RAMSeS or on the OSP website.
History
History Table
| Date |
Revision |
| 07/01/2022 |
Revised to reflect new office name. |
| 05/15/2018 |
Revised to coincide with the release of the new OSP Website. |
The operating standards in the Office of Sponsored Programs Operating Standards & Procedures Manual supersede any OSP operating standards, procedures and appendices previously included in the University Business Manual, a publication of UNC-Chapel Hill’s Division of Finance.