4/7/2024 0 Comments Personal studies budget sampleFor example: The PI lists 3 person-months’ effort on the proposal, but requests only 1.8 months’ salary. If any individual contributes more effort to the project than the person-months being requested, this is considered cost-sharing. Any cost sharing or matching must be approved by the department head (or designee) and appropriate officials link to the Cost Sharing Approval Form. All cost sharing and matching/in-kind commitments must be verifiable through documentation and must conform to University and federal/agency policies regarding allowability, allocability, and reasonableness. Cost sharing should be reflected only if mandated by the sponsor or needed to accurately reflect the effort required to conduct the project. The terms "cost sharing," "matching," and "in-kind" refer to that portion of the total project costs not borne by the sponsor. Consultants may also include firms that provide paid professional advice or services. In order to prevent apparent or actual conflicts of interest, grantees and consultants must establish written guidelines indicating the conditions for payment of consulting fees. In unusual situations, a person may be both a consultant and an employee of the same party, receiving compensation for some services as a consultant and for other work as a salaried employee. For a federal employee, consult the agency guidelines applicable to the individual in order to determine allowability.Ĭonsultants are often confused with consortium/contractual relationships.Ī person employed on a short-term basis who provides expert advice without responsibility for a portion of the work scope an individual hired to give professional advice or services for a fee, normally not as an employee of the hiring party. The consultant's services to the proposed project must be professional, short-term or intermittent, and must be solely advisory to the project. All external consultants should be listed, even if they are not charging fees or costs.Ĭonsultants or lecturers, along with their fees and travel costs, may be included in the budget. For each consultant, include a biographical sketch and a letter of participation. Budgets included in requests for external funding must be reviewed and approved by OSP.į outside consultants are required, a description of their role in the project should be included in the research plan and in the budget justification. A final check of all the numbers will preclude such confusion. When discrepancies exist between the budget narrative and the budget form, or the total amount of the request listed elsewhere on the proposal, the amount of the request also may be in doubt. In the rush to complete all parts of the application on time, you may make many last-minute changes. Once the budget has been prepared, you should make a final comparison of the amounts listed in the budget narrative with the amounts in the budget form. They are meant to serve as a guide rather than a template, and sponsors will vary the order of presentation somewhat. The following budget categories are typical. In some cases, for presentation purposes to a potential funding source, a program budget may also be appropriate. Conformance with UTMB accounting categories will ensure that the project, if funded, will be entered easily and accurately into UTMB's accounting system. For example, major budget categories such as personnel, benefits, travel, supplies, equipment, and facility and administrative cost(s) should be clearly identified. The proposal budget should be clearly presented, and should reflect UTMB accounting categories. You may download a budget template to facilitate this process. This narrative is meant to be a guide, but the PI is urged to consult the specific program guidelines or the Office of Sponsored Programs (OSP) Pre-award Analyst if any question remains unanswered. GUIDELINES FOR INTERNAL BUDGET DEVELOPMENTĪny or all of the following components may be found in a typical budget.
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