- Specify the start and end dates of the project budget period (usually a year or more)
- Decide which budget line items are required by the project.
- Price the items. Prorate costs as indicated to accommodate anticipated increases if a multi-year budget is included.
- Justify budgetary requests, in narrative form, where needed.
- Review budget to ensure that it is complete, realistic and readily comprehensible.
Typical budget items:
- Salaries (project director, student help, technicians, etc.)
- Fringe benefits
- Publication Costs
- Other direct costs (ex. photocopying, postage, telephone charges)
- Facilities and Administrative Costs (a.k.a., Indirect costs or overhead)
For more details on rates and a sample budget see the Budget Preparation Guide.