This section of your proposal states how much the project will cost and outlines the specific cost categories. Accuracy and detail are essential in this section. For federal grants, costs must also be allowable as defined by OMB circular 2 CFR 200. Be sure to show all costs related to the project and specifically, how costs tie to the project’s objectives and outcomes. Keep in mind that sponsors will support costs that are reasonable and justified in a budget description. Follow guidelines completely.
Elements of most budgets include direct costs, indirect costs, and when required, cost sharing at the level required for funding. Where there is no requirement for cost sharing, SVSU will not show/quantify matching funds.
The SVSU Operations Manual outlines policies that must be followed. Principal Investigators and staff directly involved with a program’s budget and purchases must be familiar with the policies at http://www.svsu.edu/operationsmanual/.
The following are some PowerPoints® that may assist you as you formulate a budget.