Is there a max limit on the amount of recruiting dollars a team can have in a given season? 

Say you have no open scholarships and have $10K in carryover from the previous season + $30K in conference bonus money. All $40K carries over to the next season, right? And say in that season you have 6 open scholarships and get another $30K in conference bonus money.

So would you have $160K in recruiting money for that season, or is there some upper limit that you can't exceed, like $120K or something? 

From the FAQ:

there is a maximum recruiting budget which is the equivalent of the monies you would receive for having 6 open scholarships. If, for example, you have 8 open scholarships you would still receive the same amount of money as if you had 6 open scholarships. The maximum includes money rolled over from a prior season but does not include monies from the National Tournament

So in my example posted above, you would get $90K for the 6 open scholarships (I'm talking D1), + $30K from the most recent season's conference bonus money. You would *not* get to keep the $10K carryover. What isn't clear to me is whether you would get to keep the previous season's $30K conference bonus money or not.