Sophie Moncha, FLC Engineering major, presenting a
poster on her summer research at the Maximizing Access
to Research Careers (MARC) dinner in 2014, a program
funded through a grant from the National Institutes
of Health. Sophie also receives summer research
support through CO-AMP, the Louis Stokes Colorado
Alliances for Minority Participation grant, funded by
the National Science Foundation.
Budgeting is one of the most important aspects of writing a grant proposal. It is the financial translation of your project into reality. Effective budgeting promotes the smooth execution of your project, and helps ensure that needs, both foreseen and unforeseen, can be remedied effectively. The Sponsored Research Office is available to assist you as you construct your budget. Here are a few questions to keep in mind while creating the budget:
- Does the funder require cost sharing? If so, you should refer to our Cost Sharing overview. You must include this information on the summary page of your proposal in Cayuse424 and discuss it with the appropriate offices depending on the cost share amount. Please see Cost Sharing Requirements for Sponsored Research Projects 12-5
- Will the funder pay indirect or Facilities & Administration (F&A)? If so, you must include this at the current federally negotiated rate of 38% of the total of salaries, wages, and fringe benefits or at the sponsor’s predetermined rate available on the grant solicitation.
- All full and part-time employee salary and wages must include fringe benefits.
- Check the funder's exclusions and do not include items the funder will not pay, for example, most federal grants will not pay for refreshments at a reception. Some foundations will not fund salaries. Read the grant guidelines carefully. If you need assistance, please call our office for guidance.
Think about what your project will look like, feel like, how it will work, and try to consider all possible expenses that might be needed over the course of the project. Be thorough; think about travel, lodging, printing, fees, equipment, and consultants.