NEW: Effective 10/15/15 Contracts and Grants (C&G) Accounting will determine the Budget Control Level on your grant or contract funds. The Budget Control (KK) Level has been removed from DSP’s NOA If you have any questions please contact the C&G Grant Accountant assigned to your award.
Budget Control Level 3 (KK Level 3) will be assigned to awards (federal or non-federal) where terms DO NOT impose re-budgeting restrictions. Budget Control level 3 allows spending at a direct cost level without the requirement to re-budget funds.
The goal of level 3 Budget Control is to minimize re-budgeting and allow investigators the ability to make timely expenditures needed to advance their projects. For example, if you were invited to present your research results at an international conference which you did not explicitly budget for you may attend and charge the grant award without the need to rebudget funds.
Examples of awards that would be assigned a Budget Control Level 3 are as follows:
Budget Control level 5 (KK Level 5) will be assigned to awards (federal or non-federal) where terms DO impose re-budgeting restrictions. Budget Control level 5 will require re-budgeting approvals be obtained from the Sponsor or the Division of Sponsored Programs, as appropriate, prior to allowing grant funds be used for the expenditure in question.
Upon approval from the Sponsor or DSP, The Department’s Grant Administrator will need submit a Budget Transfer Form to C&G Accounting form with back-up approving the rebudgeting action.
Regardless of the assigned budget control level, grant and contract funds must always be used in support of allowable costs per the terms of the award.
Effective 10/5/2015, Residual Projects will be established in Fund 212 and managed by C&G Accounting. DSP will not be involved in any set up or management of projects in fund 212 projects.
Contracts and Grants Accounting as part of the closeout process of a fixed price agreement will transfer residual balances into a PI’s project in fund 212. If a new project is required, C&G will facilitate this as part of the closeout process. The funds can be used to support costs of the PI’s research and training programs.