Perhaps the most intimidating aspect of developing a grant application is preparing the budget. While this can be a daunting task the first time through, understanding the purpose of the budget and the regulatory framework in which the University operates should demystify and facilitate this task.

Practically speaking, developing your budget is an exercise in translating the application’s narrative into dollars and cents. That is, the budget is the financial expression of the proposed statement of work (i.e. what you plan to do over one – five years) and should reflect the total costs of pursuing all activities presented in the application’s narrative or technical proposal.

The University’s budget development and expenditure guidance are based on OMB Circulars A-110, A-21, A-133, (A-110 and A-21 have been relocated to 2 CFR Parts 115 and 120, respectively) federal agency Inspectors General annual work plans, and University policies and best practices. As the regulatory framework governing sponsored awards is continuously evolving, our guidance and practices will also be adapting to such changes.