Troy University is required to comply with revisions of budget and program plans in accordance with OMB Circular A-110 section 25, OMB A-133 and agency specific guidelines.
The budget plan is the financial expression of the project or program as approved during the award process. Most agencies will allow the university to depart from the original budget provided that:
Budget revisions are not allowed for the purpose of relieving financial pressure on a department’s unrestricted budget, or on other sponsored projects in order to charge costs that are not necessary for the completion of the project, or not allowable.
Troy University requires prior written sponsor approval for budget revisions to buy equipment within 6 months of project end date.
Prior approval requirements for the various sponsoring agencies are subject to change; the principal investigator should contact Sponsored Program Accounting for guidance. When requesting prior approval for budget revisions, the Principal Investigator must submit the budget forms that were used in the application unless the Federal or Non Federal awarding agency indicates that a letter suffices.
Budget revisions will be allowed upon sponsor approval. Failure to obtain prior approval from the sponsoring agency for any budget revisions requiring such approval may result in the disallowance of costs.
Troy University will request prior approval from Federal awarding agencies for one or more of the following program or budget related reasons.
Non Federal Awards
Troy University will refer to sponsored agreements to determine if budget revisions are allowed and require prior approval. If the sponsor requires approval, then the principal investigator must draft the letter to the Non Federal agency and forward the letter to Sponsored Program Accounting for review, after that SPA will forward to Office of Sponsored Programs for countersignature by the official of the University.
Sponsored Program Accounting will approve budget revisions for sponsored projects based on the allowability of the transfer between direct cost categories in accordance with the terms and conditions of the award.
Principal Investigators and their designees are also responsible for submitting budget revisions for allowable costs in accordance with the terms and conditions of the award. Questions of a procedural nature should be addressed to Sponsored Program Accounting before budget revisions and transfers are submitted. Specific questions may be referred to the appropriate official listed in the award document. If prior approval is required, principal investigators must obtain written approval from the sponsoring agency prior to submitting Budget Revision Request Form.
Principal investigators and their designees are to submit a Budget Revision Request Form to Sponsored Program Accounting.
Sponsored Program Accounting