Unobligated Balance Law and Legal Definition

Pursuant to 49 CFR 18.3 [Title 49 – Transportation; Subtitle A -- Office of the Secretary of Transportation; Part 18 -- Uniform Administrative Requirements for Grants and Cooperative Agreements to State and Local Governments], unobligated balance means “the portion of the funds authorized by the Federal agency that has not been obligated by the grantee and is determined by deducting the cumulative obligations from the cumulative funds authorized.”