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Budget Transfers

Careful consideration is needed when moving money around. This activity must be approved by the granting agency. The vast majority of agencies do not mind transferring small amounts of money (10% or less) between line items; while other agencies may absolutely restrict any and all re-budgeting. Therefore, the general rule is to check the award letter to ensure that budget transfers or revisions are allowed. If the award does not state whether or not re-budgeting is allowed, then the default policy is to seek agency approval.

Budget transfers must be approved and allowable. Principal Investigators must seek agency approval if the award document does not make any reference to whether modifications are allowed.

NCCU RegulationBudgeting for Sponsored Projects Regulation 50.03.1 

Sponsored Projects all begin with a fund number of 55XXX.

Points to consider when revising a budget

  • Understand the specific sponsor terms/conditions regarding revisions to the original budget.
  • Anticipate budget needs and obtain PRIOR approval rather than after the fact approval. After the fact requests have been denied.
  • Requests for a budget revision must follow the procedures established by the Office of Sponsored Research and Programs.
  • Written, detailed justification is required explaining the reason for the revision.
  • Facilities and administrative costs (account code 74800G) must be adjusted when increasing or decreasing the equipment, subcontracts (maximum recovery of F&A is up to $25K on each agreement) and/or student aid account codes unless the agency restricts the rebudgeting of F&A costs. For assistance, please use our Budget Transfer Tool.  

Budget Transfer Forms and Instructions

A budget transfer should be requested using the Banner SSB (Self-Service Banner).  

Checking your budget

Always check your budget to ensure funds are available and the expense is allowable prior initiating any transactions on your grant. The Office of Sponsored Research and Programs verifies all expenditures and approves only those that fall within the guidelines of the grant budget.

Budget Correction Request

The Office of Sponsored Research and Programs will accept written notification from the colleges in order to correct original budget entries made upon project set-up. These corrections only relate to cases wherein OSRP misinterpreted into which account code the budget should have been entered.

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