| Documenting Budget Estimates
It is always advisable to retain all information and calculations that were used to arrive at budget figures. Salary, wage, and fringe benefit projections should be retained along with any policy that relates to current and future year projections as determined through consultation with Human Resources at Fort Lewis College.
If specific vendors have been contacted to obtain cost estimates, notes relating to any conversations and any documented estimates should be retained as part of the proposal file. Many supply items will be estimated using prices negotiated with vendors under existing State of Colorado procurement contracts. The Purchasing Office on Campus should be contacted to determine the basis of cost projections for any such items.
The primary purpose in retaining this information is to allow for justification of budget item costs during the review process by the agency. Any item that is not clearly documented as to proposed cost could be eliminated from the budget.
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