Changing Budget Amounts using KC Time and Money document
In order to decrease or increase a budget, you must increase the budget obligated amount in the Time and Money document.
Increasing or Decreasing a Budget
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To increase or decrease a budget: | ||
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1. |
Open the Award document. | ||
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2. |
Click the blue time
& money | ||
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Increase the money by changing the time period and increasing the obligated amount value.
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4. |
Blanket approve | ||
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Click the return to
award | ||
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6. |
Navigate back to the
Budget Versions Now you can open the budget.
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To increase or decrease an existing object code amount, enter a positive or negative value into the change amount field. The obligated amount next to it is what was assigned to it in the previous budget version. To add a new object code, just add it like you would in the first version of the budget.
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8. |
Repeat the following procedure: 1) Validate, 2) Ensure the requested amount is same as the obligated amount or the Budget cost limit amount, 3) Submit, 4) Log in as an Award Budget Approver and approve the budget, and 4) Log in back as Central Admin and post. For subsequent budget versions, on the time & money doc, you can also add money to an award budget when you have exhausted the money in the budget: • Click [time& money] blue button, and change Oblg. Start, End, Proj. End and Obligated Amount (add to amount) values in the Award Hierarchy section node. • Blanket approve it . • Create a new Budget Version on the Award Budget Document. It will automatically show the new total value, where you can then make changes to the budget.
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End of activity. | |||
button.
the
document.
button. 
page of the Award
document. Enter a title for the second budget in the Name field of
the Budget Versions section and then click the new button.
