Budget Revision

PURPOSE
The purpose of the following statement is to provide guidelines and procedures related to revising budgets for Contracts & Grants and other sponsored programs.

 
GENERAL GUIDELINE/APPLICABLE POLICIES
The guidelines for revising the budget of a contract or grant are normally provided in the awarding Federal agency guidelines. If the contract or grant is with the State or a private agency, the terms are normally stated in the award document. If the occasion arises when there are no guidelines or regulations covering a particular situation, the Office of Sponsored Programs will be responsible for providing or obtaining the applicable guidelines. There are several major points to consider when revising a budget

  1. Justify in detail on the budget revision form the reason for the revision

  2. Anticipate budget needs and obtain prior approval rather than after the fact

  3. Overhead should be adjusted as necessary and if allowable

  4. Request for a budget revision must follow your school's established procedures for approval.

The Office of Sponsored Programs has been delegated the authority to review and approve budget revisions for most agencies. In cases where agency approval is required to revise a budget, the Office of Sponsored Programs will be responsible for obtaining the necessary approval.

 
PROCEDURES

 
UNIVERSITY BUDGET AMENDMENT REQUEST

  1. Principal Investigator/Project Director requesting action to revise a project budget must complete the Request for Allotment Revision form. The completed form should be forwarded to the Office of Sponsored Programs if the fund was processed through the Division of Research and Economic Development originally.

  2. The Grant Administrator in the Office of Sponsored  Programs will review the budget revision and if agency prior approval is not required or no additional information is needed, the budget request will approved and forwarded to Contracts & Grants to be entered into Banner

  3. If the accountant determines that the budget revision can not be processed as submitted due to insufficient funds or some other concern, the accountant will contact the requestor to try to resolve the issue.

  4. If the issue is resolved the revision will be entered into Banner.  If the issue is not resolved, the Allotment Request will be returned to the requestor. 

  5. Revisions requiring agency prior approval will be forwarded by the Office of Sponsored Programs to obtain the sponsoring agency approval.

  6. The Office of Sponsored Programs will notify the Principal Investigator/Project Director that the revision is being submitted to the Sponsoring agency for approval.

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