Carryover is availability to move unspent funds from previous budget period(s) into the next budget period, within the overall project period. Sponsors often provide threshold amounts for carryover funds that, when exceeded, require prior approval. PIs should work with their Local Research Administrator (LRA), who will work with the Central Pre-Award to determine if there is a need for a formal carryover request to the sponsor.
When Sponsor Prior Approval is Required
If prior sponsor approval is required for the carryover of funds, the LRA/PI will work with Central Post-Award to determine information such as the dollar amount and breakdown between direct and indirect costs of the request. They will then provide the information to Pre-Award with a programmatic justification for the request. Using this information, Pre-Award will request to carryover funds from the sponsor in the amount provided by Post-Award and, when approved, route a copy of the carryover request along with the sponsor approval to Post-Award for processing in PeopleSoft.