A carryover balance may be an unliquidated obligation or an unobligated balance. An unliquidated obligation is the sum of any encumbrances that were not relieved by the end of the prior budget period. Except for unliquidated obligations resulting from purchases in the final budget period of a sponsored project, unliquidated obligations are generally accounted for through the creation of a budgeted reserve in the following budget period under the new fund number. PBUD and PBIL in FinMIS are adjusted and equal to the amount of the reserve. An unobligated balance is the cumulative unexpended balance of funds at the end of a budget period that cannot be used without the express approval of the sponsor.
Unobligated balances are generally subject to deobligation.
Common Uses Identifying sponsored project funds that have carryover.