BUDGET PLANNING. Spring 2012. Why does EPICS require a team budget?. Ensures that the EPICS program will have enough money to cover your team’s expenses. Helps your team plan and set goals for the for the academic year. Your budget expenses should align with your project
Ensures that the EPICS program will have enough money to cover your team’s expenses.
What are you building?
A soapbox derby car?
Databases, although time consuming do not require a lot of material expenses.
Some projects however can be very costly such as the Mars Rover project.
The EPICS staff will take the project scope into consideration when evaluating your budget submission.
Setting a budget is part of any design team’s responsibility in the ‘real world.’ It is part of your EPICS learning experience.
All teams have been given $200 in their account. If your team will not be spending over $200 you will not need a budget. If you go over $200 you will not be allowed to purchase until a new budget has been filed and approved.
Budget sheets can be found here
Fill out the form, get your advisors signature and take the form to ARMS 1200.
Please make sure the web site allows for credit card purchases. We cannot make Pay Pal purchases and this could slow your order.
can be found here
You will receive a monthly
report, on Sharepoint, showing expenditures and an accounting of what is left in your budget. Please make sure MYEPICS shows your role of financial officer!
You can request a report at any time with up-to-date purchases. Please share this information with your team.
If your team is exceeding your proposed budget please submit an amended budget as soon as possible.
Information about grants will come
in weekly emails. If you get an
approved grant, this money will be
on its own account. You will get a
separate grant report with your
monthly team report on Sharepoint.
When you go to fill out a
Purchase request form
using your grant money, be sure
to circle “Yes” when asked
“Is this purchase related
to grant funds?”
Treat the grants like your team
account. You will need to watch the
available money. If you go over
your allowed amount, the difference
will come out of your team
Try to use all of the money you
received for the grant or it will
be given back to your sponsor
after the duration for it is up.
Contact Pam Brown