Budget Revision - K01

Purpose

The purpose of this procedure is to ensure compliance with the Uniform Guide 2 CFR 200.308 Revision of budget and program plans. 

This procedure documents the steps necessary to revise a budget on a sponsored project. Grants that are under expanded authority permit the Office of Research and Sponsored Programs (ORSP) to approve limited changes to the budget without seeking prior approval from the sponsor. Some agencies allow a defined percentage variable, such as a 10% fluctuation between approved categories, before requiring prior approval.  For grants that are not under expanded authority, the Sponsored Programs Manager (SPM) will assist with the formal request to the sponsor for a budget revision.

Scope

This procedure applies to all sponsored projects subject to OU Policy 19.045 Administering External Grants and Contracts set up as separate accounts in the OHIO Financial Management System (FMS). This does not apply to budget revisions associated with supplemental funding or relinquishment.

Procedure

The Principal Investigator/Project Director (PI/PD) will submit a request to ORSP via e-mail with a justification for the need to revise the budget. The justification will describe how the change is necessary to the completion of the original goals and objectives of the project and how reducing certain other categories can be managed, i.e., through salary savings or other internal support.

The PI/PD will provide a spreadsheet that clearly shows the changes to the budget. Use the ORSP approved budget revision tool to ensure the budget revision considers changes to the original budget, subsequent budget revisions (current budget), and any indirect cost changes due to MTDC. Note: cumulative budget revisions that move funds more than 25% of the total budget, may require prior approval, when under expanded authority.

The PI/PD will review the terms and condition of award to determine if agency prior approval to revise the budget is required. The Sponsored Programs Manager (SPM) can assist the PI/PD with this determination. When prior approval by the sponsoring agency is required the assigned SPM will submit the request to the sponsor on behalf of the PI/PD. Expenditures incurred outside of the approved budget prior to receipt of this approval from the sponsor are the responsibility of the PI/PD’s planning unit.

Once agency approval is secured, ORSP will review for completeness and route to Grants Accounting. Grants Accounting will make the change to the project and notify the PI/PD when the transaction is complete.

Questions

Questions regarding this procedure can be sent to orsp@ohio.edu.

Forms/Templates

There are no forms or templates for this procedure. 

Roles and Responsibilities

OWNER: PI/Co-PI

CONTRIBUTOR: ORSP

APPROVER: ORSP

References

OMB 2 CFR 200.308 Revision of budget and program plans