Budget Tips

Budget Tips    

The Office of Corporate and Foundation Relations can provide worksheets and templates for budget planning.  The budget should be clear, realistic and detailed, and should tell the same story as the proposal narrative.  It should account for income from all sources (including in-kind or donated) and expenses over the entire course of the grant period.  On the expense side, your budget should differentiate program (direct) costs from administrative (indirect) costs.

Program costs comprise both personnel and non-personnel expenses related to your project.  Personnel expenses should include salary and benefit information for employees whose full or partial income will be derived from your grant.  Remember to include the cost of consultants or other independent contractors, as well as grant-related student stipends or fellowships.

Non-personnel expenses may include facility costs (rental/maintenance), equipment costs, communications, publications, travel, postage and the cost of outside project evaluation, where applicable.  Administrative costs consist of the University of Virginia’s College at Wise’s fixed institutional overhead fee for processing the grant.  Grant proposals to foundations that do not award indirect costs should include the amount of the overhead fee as a university contribution.