Although federal funding may be available to obligate for one-year, multiple years, or until expended (no-year), only accounts with multi-year or no-year funds may carry over amounts that remain legally available for new obligations from one fiscal year to the next. Carryover balances are composed of two elements: (1) unobligated funds and (2) obligated funds for which payment has not yet been made. While attention is focused on the unobligated portion, looking at both elements provides a fuller reflection of what is happening in an account. It also provides insights into opportunities for potential budgetary savings.