When applying for grants and other research funding opportunities, a well-considered and thorough budget is vital to the success of most proposals.
Elements of a Budget
Budgets prepared for grant and research funding proposals should include details for each of the following cost categories. In some cases there are specific guidelines for how to calculate or estimate associated costs, so take care to review the provided information thoroughly.
Many grant proposals request compensation for one or more people involved in the project such as:
- Administrative, support, and technical staff
- People who are not ongoing employees
Annually, Colgate defines rates and figures that should be used to anticipate these costs for a project budget.
Proposal budgets must account for indirect costs associated with a research project, such as the cost of facilities and administrative support. Colgate defines a rate/formula for calculating these indirect costs.
Costs associated with the acquisition of new equipment, or the modification/reservation of space on campus should be accounted for in a proposal's budget. Learn more about how to account for these costs.
Research proposals that involve travel should account for the associated travel, lodging, and per diem costs. Learn more about these costs in relation to Colgate's travel policy, the use of personal vehicles, and more.
If the funding agency requires cost sharing from the university, discuss the nature and the amount of the cost sharing with the department chair and division director before submitting your proposal budget for review.
All cost-sharing arrangements will be reviewed by the associate provost and the treasurer.