1. “SPEAR” WORKSHOP OCTOBER 19 & 30, 2015 PRESENTED BY ALISABET VALDES EMILY NERONA Rebudgeting

2. Definition of Rebudgeting The budget plan is the financial expression of the project or program as approved during the award process. After a grant or contract has been awarded, the PI may determine that the approved budget allocations are not consistent with actual project needs. S/he may request the formal reallocation of funds from one spending category, or object code, to another object code category that better reflects the project requirements. This process is called Rebudgeting. Rebudgeting may have an effect on Facilities and Administrative (F & A)Costs

3. When to Rebudget? Expenditures exceed budget category (Refer to Terms and Conditions) OMNI-> Grants-> Awards-> Award Profile Click on Terms Tab Deviations between original budget and Direct and Indirect ( Refer to Terms & Conditions) Rebudgeting Requires Prior Approval SRA Pre-Award Grants Officer has to get approval from Agency Plan accordingly

4. Rebudgeting Amendments FSU_SP_GM_CUMUL_PROJ_BUD Budget Amendment Form How to properly complete Budget Amendment Form: Current Budget Amount Column should match revised Amount column of previously approved budget amendment form. Adjustment: Additions or deductions to budget categories Revised Amount Column: Current Budget Amount Column +/- Adjustment

5. Rebudgeting Instructions Prepare the Budget Amendment Request form as follows: Complete the Current Budget column by running query FSU_SP_GM_CUMUL_PROJ_BUD Run the FSU_SP_KK_DTL_EXP_PROJ for current expenditures and FSU_SP_KK_DTL_ENC_PROJ for encumbrances to make sure you haven’t overspent in individual account categories. Fill in the re-budget worksheet with both totals. Plug in your cumulative budget on the worksheet. Make the budget changes in the middle column and add these to the worksheet. If any of the budget categories are in the negative you need to make adjustments in the center column. Complete the IDC Calculations tab to determine if the correct amount of indirect cost is being budgeted. Get all the required signatures. Submit the Budget amendment Request form to your Post- Award Coordinator at SRA. Rebudget_Spreadsheet & Rebudget_Spreadsheet_2_IDC Rebudget_SpreadsheetRebudget_Spreadsheet_2_IDC

6. Rebudget Exercise Dr. Who is requesting a budget amendment for project 034716 to add equipment to her existing grant. She wants to add 8,000 dollars in equipment and is transferring the funds from OPS salaries, travel, and materials and supplies. She is not changing the scope of work. It was not in the original proposal, but the equipment is essential to continue the research for project 034716.

7. Rebudget Exercise Instructions To complete the exercise you will need the following: Rebudget Spreadsheet Tab 1 (Rebudget Calculation) Tab 2 (IDC Calculations) Run the FSU_SP_GM_CUMUL_PROJ_BUD (034716) Run the FSU_SP_KK_DTL_EXP_PROJ (034716) Add the two spreadsheet in the Rebudget Spreadsheet. Add the given encumbrance amounts. Can you rebudget Dr. Who’s project correctly?

8. Rebudget Exercise The amounts to be revised are as follows: Dr. Who will not be traveling therefore the travel funds will be available. Dr. Who has purchased all the materials and supplies needed for the project. Dr. Who was going to hire one Graduate student for the Spring term for $888.45, but she realized that the project can be completed without an additional student. Project 034716 has an Indirect cost rate of 51.3% MTDC. The encumbrances are as follows: Graduate Assistants Total $1,000.00 Temporary Employment Total $250.00 Student Employment Total $250.00 OPS Medicare Total $50.00

9. Rebudget exercise Answer Completed_Rebudget_Spreadsheet Budget_Amendment_Answer

10. Questions

11. Contact Information Alisabet Valdes afvaldes@fsu.eduafvaldes@fsu.edu Emily Nerona enerona@fsu.eduenerona@fsu.edu