Sponsored Research

Research CCHIP #019

CLARIFICATION OR CHANGE IN PROCEDURE (CCHIP)

Budget Transfers on Sponsored Awards

OVERVIEW

During the conduct of a project, it may be determined that budget changes are necessary. Many sponsors allow flexibility in how project funds are expended and permit budget changes to meet project requirements. Principal Investigators (PIs) and Department Research Administrators (DRAs) must understand the specific requirements of their awards and request prior approval for budget changes (if required) through Sponsored Research Post Award.

Material changes to a budget almost always require prior approval by the sponsor as do changes in the objectives or scope that significantly alter the original statement of work. There also may be restrictions on budget revisions, including moving funds from one category to another.

DEFINITIONS

FAST 鈥� The acronym for the Financial Accounting System at the 哔咔漫画, which refers to the PeopleSoft Enterprise Financials system.

ChartField 鈥� The individual components, or fields, that when combined make up the ChartField String, which defines the accounting structure.

Budget 鈥� The applicant鈥檚 financial plan or detailed statement outlining estimated project costs to support work under a sponsored award, in terms of accounts and amounts showing use of funds for carrying out project objectives, services, or activities as found on the budget narrative.

Budget Transfer 鈥� The act of amending the budget by moving funds from one budget account code to another.

Budget Justification 鈥� Usually submitted with a proposal to ensure that the funding agency understands why an investigator has requested support of the items listed. On a continuing application, a budget justification may be required to explain significant changes in the budget.

Budget Period 鈥� The interval of time (usually 12 months) into which the grant project is divided for budgetary and reporting purposes. This period will not always align with the university鈥檚 fiscal year.

Budget Transfer Form 鈥� A USF form required for re-allocating budget amongst the University budget account codes on a sponsored award. This form is used to modify an existing FAST project ID.

Budget Account Codes 鈥� A code used in the FAST system to group Detail Account Codes into 鈥渞oll-up鈥� categories for budgeting purposes. Budgets are set up at a general level using Budget Accounts while transactions are recorded more specifically using Detail Accounts. The Detail Account used for a transaction will offset budget from the appropriate Budget Account.

Cost Accounting Standards (CAS) 鈥� Cost Accounting Standards are federally mandated accounting standards intended to ensure uniformity in budgeting and spending funds.

CLARIFICATION OR CHANGE

Upon receipt of an award, PIs and DRAs should review the sponsor documentation to gain an understanding of the allowability of re-budgeting. Specifically, they should determine if re-budgeting:

  1. Is allowed by the sponsor without prior approval and conforms to University policies, and
  2. Has a restrictive threshold (e.g., The recipient may rebudget up to 10% of the award amount without prior sponsor approval).

Budget transfers should not be used to close out or clean up the accounting for a sponsored award.

Budget transfers should be processed when:

  1. The sponsor requires review and approval of re-budgeting.
  2. The request, combined with prior requests, exceeds the sponsor鈥檚 re-budgeting threshold (e.g. 10%, 25%, etc.).
  3. The re-budget will require the use of a new Budget Account Code that is not currently in use for the sponsored award OR
  4. The budget transfer is to a CAS Exception Budget Account Code which requires a signed CAS Exception Request Form and Sponsored Research Pre Award review and approval. The signed CAS Exception Request Form should be attached to the Budget Transfer Form when submitted.

Completed Budget Transfer forms should be submitted to Sponsored Research Post Award at budgettransf@usf.edu.

PROCEDURES

Departmental Research Administrator / Principal Investigator

  • Review award and/or sponsor documentation to understand re-budgeting authority.
  • Prepare Budget Transfer Form if deemed necessary based on aforementioned guidance.
  • Submit Budget Transfer Form to Sponsored Research Post Award at budgettransf@usf.edu for review and approval.

Sponsored Research

  • Review and approve Budget Transfer Form prepared by DRA/PI.
  • Process budget transfers in FAST based on approved Budget Transfer Form.

Please submit your request for budget transfer at least two weeks in advance of your purchase to allow sufficient review, approval and processing time.

CONTACT

Please address your comments or questions regarding this CCHIP to Sponsored Research Compliance.

RELATED REFERENCES

Budget Transfer Form
CAS Exception Request Form
Grants Budget Tree in FAST under 鈥淢ain Menu>Tree Manager>Tree Viewer鈥�
USF Expenditure Guide

AGENCY GUIDELINES




EFFECTIVE DATE

This CCHIP is effective as of the date of revision and rescinds all previous versions pertaining to Budget Transfers on Sponsored Awards.

ISSUED: February 18, 2011
LAST REVISION: August 16, 2018