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Project Budget Form (7471)

Financial Operations is responsible for recording the appropriate distribution of funds available under the award. Proposed changes that modify the budget distribution, as approved by the sponsor, should be made on a Form 7471, which should then be routed through the normal approval process. If changes in the budget distribution are not required, no further action needs to be taken by the Principal Investigator.

The Form 7471 also is used to establish subaccounts for sponsored projects. A 7471 should be submitted for each sub-project/grant to be established, showing the distribution of sponsor funds and identifying the sources of cost sharing, if any. The 7471 form requires signatures from the issuing department/unit and from the receiving department/unit.

Monthly project budget reports inform the Principal Investigator of the budget allocations to the various line-items within the budget and to any sub project/grants which may have been established.

Project Budget Form 7471 can be downloaded from the Financial Operations Mpathways/PeopleSoft forms page.