budget justification for proposal template

a complete and realistic budget justification demonstrates that your project is well conceived. it also tends to minimize the chances that sponsors will arbitrarily reduce or eliminate budget categories. the budget is reviewed by opas and the sponsor to verify that costs are reasonable, allowable, allocable and necessary to carry out the proposed project, and if it conforms to the sponsor’s instructions. during award negotiations a budget is sometimes subjected to further analysis by the sponsor’s audit staff.

the budget justification is a categorical description of the proposed costs. generally, it explains staffing and supply/service consumption patterns, the methods used to estimate/calculate (including escalation or inflation factors) and other details such as lists of items that make up the total costs for a category. a thoroughly written justification that explains both the necessity and the basis for the proposed costs must accompany the budget. a budget that is adequately and appropriately justified is the best way to assure a positive cost analysis by the sponsor.

budget justification for proposal overview

below you will find information to assist you in the development of both the budget and budget justification. it is important to understand the different funders’ guidelines and develop a budget that meets the needs of your project. the budget justification should: when funds for travel are being requested, you should be familiar with the bu travel and business expense policy and procedures and contact accounts payable with any questions. be aware that some funders request that travel costs to undertake the research be shown separately from the costs to attend research conferences to disseminate research results. use the payroll estimator found on the hr website to estimate the cost of hiring a psac employee.

the purchasing office has information on and contacts for numerous vendors and can assist you in obtaining estimates for the costs of specific equipment, materials, goods, and services. the exception is when the funder allows for the inclusion of such fees or rates. if you are preparing a budget for a research contract, be sure to include all costs in the budget. please note:  the individual funder guidelines on what to include in the budget for cash and in-kind contributions will vary. for example, donated or loaned new or used equipment, value of donated land for field trials, use of meeting and office space, and a research partner’s donation of its employee’s time to work on the project. in situations where a grant has been awarded or applied for from another funding organization for the same research project, you may be required to include the other source of support in the proposed budget.

budget justification is your chance to tell reviewers how you are going to use the money you are asking for. in the simplest of terms, a budget justification is a narrative explanation of the budget – basically, you are selling your idea to a sponsor for a price. for example, if you have a team of students working on your project, the budget justification needs to tell what you are paying the students or what conferences your team is participating in. when known, list the name, title, amount of time to be spent on the project, and what s/he will accomplish. provide a short summary of each individual’s most relevant qualifications and the relationship of those qualifications to the tasks the individual will be assigned in your project.

the rates for faculty, research associates, and graduate students are according to institutional guidelines. explain the purpose of each trip and how it supports your project’s objectives. you will need to explain why equipment is essential to your project’s success and if the equipment will be only used for your project. this is a catch-all, but if you have something in this category then you need to show your work and explain why it is important to your project. use their information to craft your project’s budget justification as if you are sitting in a room with your reviewers explaining your budget line-by-line.

budget justification for proposal format

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budget justification for proposal guide

in this section, the principal investigator (pi) provides additional detail for expenses within each budget category and articulates the need for the items/expenses listed. the information provided in the budget justification may be the definitive criteria used by sponsor review panels and administrative officials when determining the amount of funding to be awarded. in all cases, however, it is best to present the justification for each budget category in the same order as that provided in the budget itself. this is a legal commitment which must be documented in the university’s accounting system. consider quantifying effort only for the requested salary support. capital equipment: the following equipment will be necessary for the completion of the project: include item description(s), estimated cost of each item, and total cost. travel: for each trip, list destination, duration, purpose, relationship to the project, and total cost. when the cost is substantial, provide a brief statement justifying the necessity.

provide a brief statement outlining each individual’s expertise and justifying the anticipated need for consultant services. note: justifying a specific consultant in the proposal may avoid the need to competitively bid consulting services. provide a brief description of the work to be performed and the basis for selection of the subcontractor. note: justifying a specific subcontractor in the proposal may avoid the need to competitively bid subcontracted services. facilities and administrative costs (f&a): f&a costs have been proposed at a rate of _____% of modified total direct cost (mtdc) as approved in cornell’s rate agreement with the department of health and human services. mtdc exclusions include capital equipment, gra allowance and health insurance, and subcontract costs in excess of $25,000 per subcontract. these may be proposed as direct costs where “unlike and different” circumstances exist. in such cases a budget justification detailing the request must be submitted to osp for review and approval.

proposal budgets and budget justifications are the financial road maps of sponsored projects. travel budgeting note: individuals can either utilize the detailed domestic and foreign travel tabs to develop line level travel budgets within the budget template or they can enter / “hard code” budget period travel total amounts on the detailed budget tab. these increases have been projected into all years of the budget template and are standard budgeting practice for stanford sponsored projects. please note, the ubo’s planning assumptions are used by the university budget office for planning purposes only and are subject to change.

stanford requires a commitment of effort on the part of the pi on all sponsored projects with the following exceptions. this requirement applies even if a sponsor does not require a commitment of effort on the part of the pi and/or does not allow the direct charging of pi salary. note: if a sponsor does not allow the direct charging of pi salary and the project does not meet one of the 3 below pi effort exceptions, pi effort must be cost shared. california affords partial exemption from sales and use taxes at the rate of 3.9375 percent from january 1, 2017, to june 30, 2022 for research and development equipment purchases. thus, the current (fy22) tax rate for research and development equipment purchases is 5.0625% in san mateo and santa clara counties.