The proposal budget is a plan for expenditure of project funds by specified cost categories. Many agencies provide budget forms or require budgets to be presented in specific formats. As you prepare the proposal budget, keep in mind the following:
- Budget items should be determined and cost estimates obtained.
- A realistic budget should be formulated to avoid an underestimated or overestimated project cost.
- The sponsor's project guidelines often provide information useful in budget preparation.
- Cost rates, which always should be checked for accuracy, can be obtained through the Business and Finance Office.
- Multi-year project budgets must include an appropriate inflation factor.
- The budget justification, a narrative, should briefly explain the need for personnel and other direct cost items in the budget.
For a budget template (Microsoft Excel) that can be easily adjusted to fit your grant, contact IRAA at 580-581-7962. As you prepare your budget, make sure to follow the guidelines established in the request for proposal and the policies established by Cameron University.
Budget Reference Guide
For more information about direct and indirect rates, CU’s current Federally-negotiated Indirect Cost Rate Agreement, off-semester salaries, and add pay, please see this reference guide.