The Budget
Linda Mason
lmason@osrhe.edu
Recipient of $millions in grants!
Budget
Budget justifies expenses and
aligns with proposal narrative.
Budgeting Steps
• Establish project period.
• Determine expenses---Management, Travel,
Equipment.
• Review overhead (Indirect) costs.
Remember that overhead costs are real! DO
NOT EVEN CONSIDER WAIVING
THEM!
• Determine value of donated goods and
services based on real costs and valid
sources.
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Direct Expenses
• Consider: Implementation, continuation,
maintenance and phase-down costs.
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Salaries.
Utilities, insurance, rental space, and equipment.
Food, transportation, and telephone.
Evaluation systems, audits, accounting systems,
and dissemination activities.
– Materials and supplies.
In-Kind Matching Funds
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Contact the funding agency and discuss
Can the match (if mandated) be in-kind
contributions (i.e., equipment discounts or
services)?
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Personnel
Fringe benefits
Travel
Equipment
Supplies
Volunteers
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Contractual
Construction
Miscellaneous
Indirect Charges
Leveraging
Services
Budget Principles
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7.
NO mistakes! (at least 3 proofers)
Consistent format – numbers, dollar signs,
decimals, commas
Ask for enough.
Clearly justify your figures with real estimates, real
travel locations, real mileage, and real salaries (no
estimates unless the person is to be hired).
Tell your story. If someone cannot understand your
project from reading your budget, start over.
Include ALL project costs and plans for sustaining
the project.
When you do not have a person hired for a position,
include a clear job description and salary estimate.
Budget Presentation
You can present your budget in different ways:
• Narrative format.
• Visual format, such as a pie chart that reflects the
percentages mentioned in the narrative.
• Standard numerical format.
• Budget justification (details about each numerical
item and follows the standard format).
• The budget must match the project needs!
PROJECT SUMMARY
This project is designed to assist the professional development of high
school teachers. Most of our teachers are not certified to teach
algebra or calculus. Also, State Government has passed a Standards
Based Curriculum that teachers are not ready to implement. This
will benefit our minority students and teachers. The intellectual
merit of the project is that it will build on the Standards activity and
will have more students taking calculus. The broader impact will be
that teachers will share more information through teachers meetings
and students will take more mathematics and become scientists in the
work force.
BUDGET
Personnel (Five Senior and one Clerical
$136,555
Equipment (new computer)
$ 45,000
Travel
$ 5,000
Participant Support (8 Teachers)
$ 10,000
Other (Supplies $1000; Consultants $20,000)$ 21,000
Indirect Cost
Waived
Budget in the Narrative
The overall annual budget for the Center for
Women and Children is projected to be
$465,000. Of this amount 53% is for salaries
and benefits, 37% is for programs and services
to women and children, and 10% is for
administration and fundraising expenses.
Sample Budget Justification
Executive Director, Dr. Joan Smith - The budget
request is for .5 FTE director @ $95,000 annual
salary plus fringe at 28%.
Administrative Assistant, Ms. Mary Smith - The
budget request is for .5 FTE administrative assistant
@ $37,500 annual salary plus fringe at 22%. She
will be .5 FTE for the Oklahoma GEAR UP
Program at the same time. Office space is being
contributed to the project by the Oklahoma GEAR
UP program.
Sample Visual Format
Sample Standard Form
(usually provided)
Item
A.
B.
C.
Annual
Expense
Personnel (Salaries, Wages)
• Executive Director
• Administrative Assistant, .5 FTE
• Program Director
• Program Assistant
• Development Director
• Membership Coordinator
• Office Assistant
Total Personnel
Fringe Benefits
Contractual
• 1. Web design and maintenance
• 2. Consulting
Remember Indirect Costs
$65,000
$22,000
$38,000
$32,000
$38,000
$32,000
$26,500
$183,500
$22,000
$11,500
$ 500
Budget Justification
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Thoughtful narrative per each item
Summary overview
Discuss any significant increases or
decreases compared with last year's or
next year's budget
Important figures (such as a high unit
cost for equipment/instrumentation).
What about life after this grant? Will
funds be available to continue the
project.