Here is a helpful checklist you may want to refer to when developing your budget for grants and contracts.
- Is your budget realistic? Have you avoided inflating costs?
- Are all costs included in your budget allowable, allocable, and reasonable?
- Is everything in your budget referenced in the proposal description/narrative? Likewise, is everything mentioned in your proposal description which would incur cost shown in the budget?
- Have you included any items that may be required by the sponsor, such as travel to a conference or planning session, and allocated funds for that appropriately?
- Have you double-checked the sponsor's guidelines/RFP (Request for Proposals) to see if they do NOT allow certain kinds of expenses, such as personnel, foreign travel, F&A (Facilities and Administrative), or indirect, costs, etc. and excluded those items from your budget?
- If including a subaward/subcontract on your proposal, have you received a letter of commitment from that institution's sponsored programs office, along with a scope of work, budget, and budget justification?
- Have you included cost share or cash match, if required? If so, have you received approval from the department/college/unit which will be providing that cost share?
- Have you included F&A (Facilities and Administrative), or indirect, costs if allowed by the sponsor?
- Have you used one of Sponsored Programs' budget templates to insure that time and effort and fringe benefitshave been calculated accurately for all personnel (faculty, staff, and students)?
- Have you used the sponsor's budget form or format (if applicable) to enter your costs?
- Have you written a budget justification if required?
- Have you discussed any academic year effort on your proposed project with your department chair/director?
- Have you double-checked your math?