The NCAB approves more grants than the NCI budget can finance. Early in the fiscal year, the NCI formulates funding guidelines for its programs based on expected allocations of funds, program requirements, and prior history. Final funding decisions are made by the director of the NCI and the NCI Scientific Program Leadership (SPL), based primarily on review percentile/impact score ratings of scientific merit, the institute's program objectives, avoidance of duplicate effort, and other considerations. The funding mechanisms are reevaluated prior to each grant review cycle and adjusted to the current level of funds available and future funding.
After review and discussion with the NCI division, program and grants management, it becomes an authorization (paylist). The chief GMO and grants management staff use this paylist as the authority to complete the administrative review, negotiation, and award process.
Quoted from: Step 3: Peer Review and Funding Outcomes on the NCI Apply for a Grant webpage.
