Manage Your Budget
Reconciling accounts on a regular basis will help you to manage your sponsored funds to ensure that expenditures and revenues are within appropriate limits and guidelines.
If help is needed obtaining a detailed report for a grant account please call either the Office of Sponsored Programs or Krystal Thompson.
Director of Payroll & Grants
After a grant or contract has been awarded, the PI may determine that the approved budget allocations are not consistent with actual project needs. S/he may request the formal reallocation of funds from one spending category to another category that better reflects the project requirements. This process is called re-budgeting or budget revision.
All re-budgeting should be reviewed by OSP and may require formal approval from the sponsor.
In many instances, an unobligated balance on a grant may be carried over into the next budget period without sponsor approval. If this is permitted, it will be indicated as such in the notice of award (NOA).
NIH prior approval is required for carryover of unobligated balances on the following awards:
- All P mechanisms except P01’s
- Cooperative agreements (U mechanism)
- National Research Service Awards (T and F mechanisms)
- Phase I SBIR and SSTR (R43 and R41 mechanisms)
- Awards to individuals
Where carryover requires sponsor approval and/or when it exceeds 25% of the award, or when it exceeds $250,000, the request should be mentioned by the PI in the progress report. In the justification section, and in the progress report itself, the PI should mention that a formal request will be submitted under separate cover.