Many sponsors give the Principal Investigator the flexibility to rebudget funds as necessary to meet program objectives and adapt to changing circumstances. However, such latitude is never a given.
In general, submit a revised budget approval request to ORS when:
- Restrictions in the terms and conditions of the original award require prior approval for any budget revisions. (Subcontracts, foreign travel, purchasing capital equipment frequently require prior approval from the sponsor.).
- A change in the scope of work requires a considerable amount of funds to be shifted between expense categories.
- The financial realities of the project—salary increases, new employees, etc.—require budget revisions.
- Subcontracts are issued that are not included in the original proposal.
- Rebudgeting for equipment needs (before purchase).
- Purchases or actions affect the indirect costs charged to an account (before purchase).
Complete and submit the UMKC Request to Use Carryover Funds
to carry over funds from one budget period to another, if justified and allowed by the sponsor or funding agency. It cannot be used to carry funds over beyond the end date of a funded project.