Post-Award Budget Revision Policy and Procedures

Purpose of Policy

The purpose of this policy is to establish uniform procedures for making post-award budget revisions to approved grants in compliance with the Uniform Guidance 200.308 and agency-specific rules. Principal Investigators or Project Directors (PI/PD) are required to report any deviations to their approved budget and scope of work to the Office of Sponsored Programs and Foundation Relations (OSPFR) and Financial Affairs.

Definition of a Budget Revision and Background

During the post-award period, the PI may need to reallocate funds to address unexpected program changes. Rebudgeting is defined as transferring funds from one cost category (line item) to another in the approved, funded grant budget. Cost categories may include, but are not limited to, the following:

  • Personnel
  • Fringe benefits
  • Travel
  • Equipment
  • Supplies,
  • Contractual
  • Indirect costs

Many sponsors do not require prior approval for budget revisions within budget categories. Generally, budget revisions that comprise less than 25% of the direct costs of a project budget does not require granting agency approval. Note that some funders apply more stringent rules and it is important to understand their budget revision policies. For example, the NSF requires prior approval for adjustments made to the participant support cost category.

The Rebudgeting Process

  1. In the event that a budget revision is required, the PI must contact the Office of Sponsored Programs and Foundation Relations (OSPFR) to initiate the budget amendment process.
  2. The PI will provide the Assistant Provost with a detailed explanation of what costs need to be rebudgeted and confirm that there will be no changes to the scope of work (approved award goals and objectives). The explanation must be submitted in writing.
  3. The Assistant Provost, with consultation from Financial Affairs, will review the rebudgeting request to determine whether prior approval is necessary based on sponsor regulations. If it is unclear whether prior approval is required, the PI will contact the relevant program officer to confirm whether a budget amendment must be submitted to the funding agency.
  4. If a budget amendment is required by the funder, the PI will work with the Assistant Provost and the Senior Staff Accountant in Financial Affairs, to prepare a revised budget for submission to the funding agency for approval. If a budget amendment is not required by the funder, the PI will work with the Assistant Provost and the Senior Staff Accountant to update the budget for internal purposes to keep track of expenditures.
  5. The PI submits the budget revision request to the funding agency for formal approval.
  6. Financial Affairs processes the budget revision once approval from the sponsor is received and documented.

Next Review Fall 2023