On September 15, 2011, the federal Office of Management and Budget distributed Memorandum 11-34 to the heads of executive departments and agencies of the federal government regarding the need to accelerate the expenditure of American Recovery and Reinvestment Act (ARRA) funds.
On December 13, the Sponsored Projects Office received a notice from the National Science Foundation that outlines how NSF plans to encourage PIs to accelerate the spending of ARRA funds by September 30, 2013. Also on December 13, the National Institutes of Health issued an NIH Guide Notice with the same general guidance as NSF.
SPO has posted campus guidance for both the NSF and NIH notices at a new SPO web page, Accelerating Spending of ARRA Funding. Additional information will be included as other agencies publish their requirements.
November 10, 2011 Research Advocate article: Acceleration of Unspent ARRA Grant Funds