Rebudgeting is the transfer of funds from one budget line to another. During the course of a project, sometimes it becomes necessary to revise the original project budget. The rules for how and if rebudgeting may be done are detailed in each sponsor’s standard regulations and/or in the terms and conditions for an individual award.
Some federal sponsors grant the university “expanded authority” for rebudgeting. Expanded authority gives the university permission to review rebudgets internally and in many cases eliminates the need for sponsor review. For projects under expanded authority, OSP will review and approve rebudget requests as long as the request is in accordance with sponsor regulations. While some sponsors grant expanded authority to the university, this authority does not cover all requests, such as rebudgets that result in a significant reduction of effort, change in scope of work, etc.
There are sponsors who do not grant expanded authority to the university. Should a rebudget be needed for a project not under expanded authority, the request must still be submitted to OSP, and OSP will formally submit the request to the sponsor for review. After receiving written approval from the sponsor, OSP will finalize the rebudget request.
In order to initiate a rebudget request, the PI must submit an Award Action Form to OSP. This form provides information about the project (account number, project dates, etc.) and requires a detailed justification for the rebudget. This justification must include both why funds are needed in the new “to” line items as well as why funds are no longer needed in the original “from” line items.
Along with the Award Action Form, the PI must also submit a Budget Change Form. This Excel worksheet details the amount of funds to be moved for each line item described in the rebudget request.