Budget Development Seminar

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Budget Development Seminar

• Pam Whitlock
• OSP
• 03/31/07
• For Faculty and Staff
• Slide content courtesy Pamela B. Whitlock

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Introduction

• OSPs Role in Budget Development
• To assist in translating your ideas into spending
  categories recognizable by both UNCW and the
  sponsor
• To protect the university
• To provide advice to best maneuver through
  institutional policies and procedures
• AVOID POST-AWARD PROBLEMS

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Agenda

• Good budgets, good planning, good faculty
  preparation
• Hints from NSF/NIH
• Personnel, subcontracts, supplies v. equipment
• FA Recovery
• Budget narrative Justify, Justify!
• Working together
• Happy endings (results of good budgeting)

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Budget

• What is a budget?
• Financial expression of the proposed scope of
  work
• A guiding document for conducting work when
  awarded

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Criteria of a good budget

• Translates resource needs to dollars
• Conforms to agency (sponsor) guidelines
• Provides realistic estimates
• Supports the project or program
• Explains itself
• Plans ahead

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What are the advantages of good planning?

• You have already received approval for
  equipment, travel, etc
• Reduces frustration and time in setting up a new
  account
• Minimize budget revisions
• PI aware of special approvals and deadlines that
  may be required
• Preserves the integrity of the project

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Faculty Preparation

• Devise a workplan/business plan refer to your
  scope of work
• Know what the sponsor will fund
• Summer salary, release time, equipment
• Know the sponsors general range for funding
• Find out the cost-sharing or matching funds
  requirements, if any
• Are there limits on allowable costs?
• Know your sponsors preferences

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Hints from NSF/NIH Program Review

• Look at previously funded projects
• Provide a strong connection between project
  design and
• Note significant changes across years
• Include a timeline
• Make sure your numbers match throughout the
  proposal

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Things to remember

• Abide by sponsor requirements
• Be explicit on cost sharing (do not volunteer)
• NSF participant costs cannot be moved to a
  different expense line
• Other sponsors wont permit FA to be moved

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Personnel

• Accurate and fair salaries
• Different types of employees - benefits and
  obligations
• Termination, annual leave payout
• Hiring process and recruitment

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Subcontracts

• Does the subcontractor know about this proposal?
• Need both institutions to sign off
• Certifications
• Sponsor approval is the subcontract in the
  proposal?
• Are you buying services or do you have a partner?

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Supplies v. equipment

• Need to know the sponsors definition
• Need to know UNCW definition
• Sole source issues
• Lease/buy analysis vessel leasing

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Cost Sharing

• Voluntary
• Mandatory
• Cash
• In-kind
• Reporting

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FA Recovery

• Rates
• Base
• Sponsor policy
• What it is recovery of REAL costs
• What it isnt OSP profit
• And your department get some back!

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Budget Narrative and Justification

• Tie budget into workplan
• Explain WHY
• Include details
• Have a reasonable basis for projected costs
• Make sure it is RIGHT

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Working together

• Faculty and department staff
• OSP
• Purchasing
• Accounting
• Human Resources
• Subcontractors
• Collaborators

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Happy ending

• Project implementation is seamless
• OSP will smile at you!

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Summary

• Developing good budgets
• Advantages of and criteria for good planning
• Who is involved? It takes a village.
• How OSP can help.

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Where to Get More Information

• www.uncw.edu/orssp
• Future workshops sessions
• Email us carvermj, whitlock
• Call to discuss we will come to you!
• Come by and visit OSP!

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Questions from you