Principal Investigators must exercise proper stewardship over funds and ensure that costs charged to awards are allowable, allocable, reasonable, necessary, and consistently applied regardless of the source of funds. The budget associated with an award reflects the anticipated financial needs to complete a project as proposed. However, after an award has been made, and the project is undertaken, a PI may determine that the approved budget allocations are not consistent with actual project needs and may desire to rebudget some of the funds from one budget category to another.

Most sponsors impose some level of restriction on budgetary changes. The process and requirements for rebudgeting funds is derived from the award terms and conditions and for most awards the terms are explicitly stated.

OPAM has developed a Rebudgeting Guidance Document (PDF) outlining the steps for determining the appropriate process to follow to put forth a rebudgeting request.