Contact your OSP coordinator early in the budget preparation process so that they can help you develop a complete and comprehensive budget that meets institutional and sponsor guidelines. They can also help you avoid unnecessary delays by anticipating potential issues and addressing them before the proposal is routed.
Your budget should include clearly detailed and well justified costs for personnel, equipment, supplies and travel.
The first step in preparing a budget is to identify the following:
- all personnel by name and title/position
- the percentage of effort or portion of time each person will actually devote to the project
Other important factors to consider in developing your budget include:
- annual increases in the budget based upon the scope of work
- clearly detailed and well justified costs for personnel, equipment, supplies, and travel
- required resources to accomplish the technical proposal as well as who will be responsible for providing resources i.e. the sponsor, the university, other parties)
- facilities and administrative costs (F&A or indirect costs) that represent the University's federally negotiated rate or qualifies for a lesser rate per sponsor' requirement or a waiver request by the principal investigator
- additional budget documentation required should a subawardee be a part of the proposal.