Rebudgeting within a sponsored project, after it is awarded, is allowed if there is a legitimate need to reallocate budgeted costs, provided the rebudgeting conforms to the sponsoring agency’s guidelines. Funding agencies have widely varying requirements regarding modifications to externally funded grants and projects. Some agencies are flexible, while others require prior approval of all changes.
You must send to SPFAC a request for a budget revision for any change you desire in the budget for your externally funded project. Submit a Budget Revision Request form to your Post Award Grant Specialist. Include on the form:
1. A detailed justification for the revision.
2. The budget categories to be revised and corresponding amounts.
3. Sign form.
If necessary, SPFAC will forward a request for additional approval to the sponsoring agency. Some sponsoring agencies will allow some flexibility (e.g., 10%) between line items, as long as the "bottom line" budget does not change and as long as the line item to which the funds would be moved exists and is already funded. Other sponsoring agencies, including the Board of Regents, generally require their approval for various changes. If you are not sure whether a budget revision is required for your project, contact your Post Award Grant Specialist for guidance.