Often it is necessary to modify budgeted line items to meet unforeseen needs or changes during a project. Post-Award Services will help expedite required or desired budget modifications. Most major federal agencies have liberal rules concerning the transfer of funds between approved budget categories. For the most part changes can be made at the request of the PI with no further sponsor approval required. Other agencies (e.g., private foundations and state agencies) have stricter re-budgeting requirements and may require agency prior approval before modifying an approved budget. ORS should be consulted as to grant/contract requirements. If prior approval is required by the funding agency, a written request processed through ORS for University concurrence will be necessary. Click here to go to "Change Form."
Note that when making a budget reallocation, you should also consider whether an indirect cost adjustment is required. Reallocating to or from personnel and fringe benefits requires an adjustment in indirect cost because Coastal's indirect cost rate is based on total salaries, wages and fringe benefits. For examples, moving $1,000 from personnel and fringe benefits should also include moving $242 from indirect cost (given the rate of 24.2%), so that $1,242 is available for other direct cost categories. The reverse is true if funds are moved from equipment to personnel. (Note: There are some agencies that do not allow re-budgeting of indirect costs).