Budget narrative is somewhat of a contract with the funding agency that explains how you plan to spend the funds if you are awarded the grant funds. Budget is reviewed as a part of the application package. However, if the funder decides to fund the project; the budget must be approved by the Office of the Chief Financial Officer. They review the budget to ensure all the costs are allowable. After the award is made any changes to the budget require the approval of the funder.

Why might a grantee need a budget adjustment? What factors do you think a funding agency will consider in making these determinations?