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When a new account is set up for a grant or contract, the Grant Manager establishes the budget within the parameters of the Financial Records System (FRS) to most closely match the approved budget and any restrictions or limitations imposed by the sponsor. During the course of a project, the Principal Investigator may find it necessary to move funds between budget categories in order to meet project objectives. In some cases, this action requires OSP or sponsor approval. In those instances, the PI should submit a Rebudget Request Form to OSP.
Frequently Asked Questions
How do I determine if a rebudget request is required?
Award documents or contracts often include terms or conditions regarding rebudgeting. If you are unable to determine the specific requirements for your award, contact one of your Grant Managers for assistance.
What kind of explanation or justification is required?
The Grant Manager and/or the sponsor need to know why the funds are available for rebudgeting, and how they will benefit the project in the new budget category. In the event the explanation is not sufficient, your Grant Manager will contact you for additional information.
Who approves rebudget requests?
In most cases your Grant Manager. However, there are instances where OSP must obtain approval from the Program Officer or some other representative of the sponsor.
Are rebudget requests automatically approved?
No. The Grant Manager must evaluate the request to determine whether sufficient justification has been provided, and that it is consistent with the scope and objectives of the project. In cases where sponsor approval is required, we must wait until formal notification of the approval is received.
I know my rebudget request requires sponsor approval. Wouldn't I save time if I sent my request directly to the sponsor?
Many sponsors require that the Grant Manager review and approve the request before it is submitted. Also, by maintaining direct communication with the sponsor, your Grant Manager can immediately update FRS upon notification that the request has been approved. Therefore, all requests should be submitted through OSP.
How will I know if my request has been approved?
You will receive notification from your Grant Manager. If sponsor approval was required, and the sponsor has notified you directly, please contact OSP so that we can make the necessary changes to your account.
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