1. The Budget Linda Mason lmason@osrhe.edu Recipient of $millions in grants!

2. Budget Budget justifies expenses and aligns with proposal narrative.

3. Budgeting Steps Establish project period. Determine expenses---Management, Travel, Equipment. Review overhead (Indirect) costs. Remember that overhead costs are real! DO NOT EVEN CONSIDER WAIVING THEM! Determine value of donated goods and services based on real costs and valid sources..

4. Direct Expenses Consider: Implementation, continuation, maintenance and phase-down costs. –Salaries. –Utilities, insurance, rental space, and equipment. –Food, transportation, and telephone. –Evaluation systems, audits, accounting systems, and dissemination activities. –Materials and supplies.

5. In-Kind Matching Funds –Contact the funding agency and discuss –Can the match (if mandated) be in-kind contributions (i.e., equipment discounts or services)? Personnel Contractual Fringe benefits Construction Travel Miscellaneous Equipment Indirect Charges Supplies Leveraging Volunteers Services

6. Budget Principles 1.NO mistakes! (at least 3 proofers) 2.Consistent format – numbers, dollar signs, decimals, commas 3.Ask for enough. 4.Clearly justify your figures with real estimates, real travel locations, real mileage, and real salaries (no estimates unless the person is to be hired). 5.Tell your story. If someone cannot understand your project from reading your budget, start over. 6.Include ALL project costs and plans for sustaining the project. 7.When you do not have a person hired for a position, include a clear job description and salary estimate.

7. Budget Presentation You can present your budget in different ways: Narrative format. Visual format, such as a pie chart that reflects the percentages mentioned in the narrative. Standard numerical format. Budget justification (details about each numerical item and follows the standard format). The budget must match the project needs!

8. PROJECT SUMMARY This project is designed to assist the professional development of high school teachers. Most of our teachers are not certified to teach algebra or calculus. Also, State Government has passed a Standards Based Curriculum that teachers are not ready to implement. This will benefit our minority students and teachers. The intellectual merit of the project is that it will build on the Standards activity and will have more students taking calculus. The broader impact will be that teachers will share more information through teachers meetings and students will take more mathematics and become scientists in the work force. BUDGET Personnel (Five Senior and one Clerical$136,555 Equipment (new computer)$ 45,000 Travel $ 5,000 Participant Support (8 Teachers)$ 10,000 Other (Supplies $1000; Consultants $20,000)$ 21,000 Indirect CostWaived

9. Budget in the Narrative The overall annual budget for the Center for Women and Children is projected to be $465,000. Of this amount 53% is for salaries and benefits, 37% is for programs and services to women and children, and 10% is for administration and fundraising expenses.

10. Sample Budget Justification Executive Director, Dr. Joan Smith - The budget request is for.5 FTE director @ $95,000 annual salary plus fringe at 28%. Administrative Assistant, Ms. Mary Smith - The budget request is for.5 FTE administrative assistant @ $37,500 annual salary plus fringe at 22%. She will be.5 FTE for the Oklahoma GEAR UP Program at the same time. Office space is being contributed to the project by the Oklahoma GEAR UP program.

11. Sample Visual Format

12. Sample Standard Form (usually provided) Item Annual Expense A. Personnel (Salaries, Wages) Executive Director $65,000 Administrative Assistant,.5 FTE $22,000 Program Director $38,000 Program Assistant $32,000 Development Director $38,000 Membership Coordinator $32,000 Office Assistant $26,500 Total Personnel $183,500 B. Fringe Benefits $22,000 C. Contractual 1. Web design and maintenance $11,500 2. Consulting $ 500 Remember Indirect Costs

13. Budget Justification Thoughtful narrative per each item Summary overview Discuss any significant increases or decreases compared with last year's or next year's budget Important figures (such as a high unit cost for equipment/instrumentation). What about life after this grant? Will funds be available to continue the project.