To minimize the need for budget revisions, know the guidelines for the award. These guidelines may be found in any of the following places:
In FMS, click on the blue “Attributes” hyperlink in the UTH Grants panels. This will open a new window which may list re-budgeting rules for the project. Examples of re-budgeting rules include:
Check the Miscellaneous Note section of the UTH Grants panels of PeopleSoft FMS.
To expedite a budget revision when one is necessary, be sure to include a good explanation why the Budget Revision is needed.
Pay particular attention to the following expense items:
|FMS Budget Pool||FMS Expense Account Code||Definition||What to Pay Attention To|
Follow UTHealth Prior Approval process. Include name of traveler, destination, dates, and how the trip benefits the project.
Federal Funds: Describe the equipment, how it benefits the project, and the percent usage on the project.
Equipment must be essential, allocable and reasonable.
All Other Funds: Follow the Agency’s specific requirements.
|61012||69651||Pt. Care Costs -Restricted- No IDC||
Make sure there are the appropriate Human Subject assurances. If the grant is NOT under Federal Demonstration Project (FDP) or Expanded Authority (EA), prior approval by the funding agency is required. If, however, the grant IS under FDP or EA, prior approval by the funding agency is required only if there is a change in scope.
|Subcontract Expense||When moving money out, make sure the money isn’t committed to a subcontract. If moving money in, follow the Agency’s specific procedures for establishing a subcontract.|
|61015||69901||Indirect Costs||For awards that allow re-budgeting between direct and indirect costs, it is important to make sure that when re-budgeting direct costs between categories that recover IDC and those that don’t, to re-budget into pool 61015 accordingly.|
|61017||Restricted- External Agency||
Generally, this is money left over from prior budget periods and is therefore restricted. Agency approval is required to use these funds.
|61018||Restricted- Internal UTHealth||
Generally, this is money that was either awarded in error, or for which there is a problem with the budget that was submitted with the application. PAF Team has restricted the funds until the problem is resolved.
Budget Revision Process:
Budget revisions are initiated by the department administrator(s) where project resides utilizing FMS budget transfer transaction.
Budget transfer transactions appear on the Post Award Finance (PAF) worklist for review, approval and posting.
Budget transfer transactions which are considered unallowable will be deleted from the system. A notification will be sent to the department administrator which initiated the transaction with an explanation.
Please contact PAF for instructions regarding budget revisions which require prior approval from the funding agency.