The budget for a sponsored project is the financial expression of the project or program as approved during the award process. During the conduct of the project, the Principal Investigator may decide that budget changes are needed in order to meet the requirements of the project. Many sponsors allow some flexibility in how project funds are expended and permit budget changes needed to meet project requirements. Principal investigators must request prior approval from the sponsor for budget changes when necessary.
See – Budget Development
Please note that when budget revisions are made in direct cost categories, there could also be an impact on the Facilities and Administrative (F&A or indirect costs) to be charged to the project.