It is the policy of New York University (NYU, the “University”) that all costs proposed or incurred on a sponsored project must comply with sponsor terms and conditions, NYU policies and procedures and applicable Federal, state and local regulations. The Principal Investigator (PI) is ultimately responsible for ensuring appropriate financial management and compliance with sponsor terms and conditions as well as for determining actual effort expended on a sponsored project. This includes responsibility for ensuring that all re-budgeting is done in compliance with sponsor requirements and University policy.
The purpose of this policy is to assist PI's, schools, departments, units and personnel of the University to effectively manage the finances of sponsored program awards by providing guidelines and procedures for making necessary budgetary changes.
This policy is applicable to all schools, departments, units and personnel of the University involved in administering sponsored awards.
Effective Date Supersedes 09/01/13 Issuing Authority Sponsored Programs Administration Responsible Officer Assistant Vice President for Sponsored Programs Administration
The transfer of grant funds from one budget line (e.g., salaries, supplies, travel, equipment) to another budget line. When re-budgeting has occurred, the total amount of funding authorized for the grant has not changed.