Budget Reallocation
Budget Reallocation
Embedded Files
Best Practice
Best Practice
Process Budget Reallocations in a timely manner to:
Ensure funds are expended in accordance with the award terms and conditions
Document and track the budgetary plan for the project
Allocate subaccounts budgets for projects with multiple PGs - make sure you communicate & coordinate with the other department(s) / unit(s) as needed
Budgets are comprised of Direct Costs and applicable Indirect Costs, also known as Facilities and Administrative (F&A) Costs. The PI has primary responsibility for budgetary planning and execution of their projects. The Budget Reallocation process is an online tool in M-Pathways which allows users to reallocate budgets on existing Project/Grants (P/G).
CLICK HERE for links to Step-by-Step Procedure training documents for creating or approving a Budget Reallocation.
Rebudgeting may or may not require prior sponsor approval. You will need to review the award terms carefully to determine whether or not prior approval needs to be obtained (e.g. some awards have restrictions on the percentage of budget that may be re-budgeted without sponsor approval). If rebudgeting requires sponsor approval, you will need to complete an Award Change Request (ACR) seeking sponsor approval prior to submitting your budget reallocation. The sponsor approval, once received, should be uploaded to ‘Add Documents’ when the Budget Reallocation request is submitted.
Important
Important
If you have any questions about Budget Reallocations, please contact the Sponsored Programs Customer Service Coordinator listed on the Award Record and in M-Reports.
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