Yes, a grant application for an internal grant does not require IRB-HSR approval of the grant. An example of this type of grant: The UVA Center for Creative Research has obtained a one million dollar grant. The UVA Center for Creative Research then accepts grant applications from UVA investigators and determines how the money will be distributed. (Note that the IRB-HSR would still have to approve the protocol.)
An external grant application to the FDA or a non Common Rule Federal agency (e.g. Department of Justice) does require approval from the IRB-HSR.