SAMPLE
Budget Explanation and Justification
Duration - The period of performance is from(insert start date i.e.January 1, 2013)to (insert end date i.e. December 31, 2015). The project is intended for a total duration of (insert number of months i.e.24 months) from the time the project is established.
Salaries - The PI and the Co-PI(s)salaries are based on their respective current academic (9 months) base salaries plus a (insert a 3 to 5%) annual raise. The projected duration of times associated with the direct involvement of the PI and the Co-PI with this project is determined based on (insert explanation i.e. previous experience working on similar projects).
Fringe Benefits – Fringe rates are compiled by human resources in accordance with university policy. List the % being used in this proposal. After the first year, each subsequent year’s fringe rate has been incrementally increased by 1% per year based upon the prior year’s fringe rate to allow for future approved Department of Health and Human Services (DHHS) rate increases. However, note that only the actual approved fringe rate will be charged to the grant during the grant period of performance and billing.The most current rates are available at:
Graduate Student Stipend/Salary - The graduate research assistant stipendis based on the current university stipend rate plus a 4% annual raise. Need to say how many students & % of time for each student.
Undergraduate Student Salary – Describe how the hourly rate was established or selected. State the number of students, hourly rate, and the hours for each student.
Travel – The cost of travel is for the purpose of (insert explanation of trips, i.e. to attend a conference, to collect data, etc.) Include the number of trips, number of days, number of people, mode of transportation, etc.
Supplies – List supplies by categories or out separately.
Subawards- Identify the subawardees by name and address and the amount. Some agencies will want the breakdown of subawards – address as necessary. The University policy is to charge F&A on the first $25,000 of each subaward.
Other Expenses – identify and explain any other expenses. i.e. publication.
Equipment Certification - The equipment and components purchased in support and execution of this project will be used exclusively for research.
Equipment – List equipment by title, part number or any other identifiers. Also list whether the price included in the budget is from a written or oral quote; from a catalog; historical price, etc.
Participant Support –
Student Fees - Fees are based on the most recent Missouri S&T charges.
F&A – Missouri S&T has a rate agreement with DHHS. List the % that is being used in this proposal. The most current agreement is available upon request or at the following link: