Revised Budgets

Sponsors sometimes request a revised budget after a proposal has been submitted. 

If the award has not been issued, work withyour Proposal Analyst to interpret sponsor requirements and draft a new budget. Once the Principal Investigator/Department Administrator approves the revised budget, your Proposal Analyst will submit the budget.

If an official award has been issued, work withyour Grant or Contract Officerto interpret sponsor requirements and revise budget figures. Once the Principal Investigator/Department Administrator approves the revised budget, your Grant or Contract Officer will submit the revision.

Fringe Rate Updates: If possible, it is CU Boulder’s policy to update salary and fringe benefit rates in a budget revision, if they have changed since the time of proposal submission.

IDC Rate Updates: Indirect cost rates will be updated if the revised budget request is prior to an award being issued. If the request is after an award has been issued, the indirect cost rates used at time of proposal submission will generally be applied.

Who is responsible for revised budgets?

Who is responsible for post-award revisions that are not sponsor initiated? 

Post-award, the Principal Investigator and/or the Department Administrator are responsible for ensuring projects are on target with the information detailed in the award.  If there is a need to develop a revised budget, spend plan, burn rates, etc. to ensure progress, this is the sole responsibility of the Principal Investigator and/or the Department Administrator. Your OCG Grant or Contract Officer can confirm whether sponsor approval will be needed, and would submit the revision to the sponsor.