Both renewals and supplement/extensions are mechanisms to continue a project with more time and money awarded. However, there are key components in the award agreement that determine whether a new budget number is required for the continuation period, or the same budget can be extended throughout the project/competing segment.
Renewals require a new budget number due to:
- Lack of automatic carryover (i.e. prior year’s remaining balance cannot automatically be combined with current year’s funds).
- Separate final financial reports and/or invoices are required each year to close out the current period’s funding.
- A new PO or grant # is issued for the new period.
- Non-SNAP NIH awards.
- T32 training grants.
- Carryover is automatic or prior funds are not distinguished from new funding.
- No requirement for final financial reports or invoices for each budget period.
- Grant/PO numbers not drastically changed (i.e., an amendment # does not require a new budget number).
- Flow through SNAP awards
- Industry or foundation sponsored projects