slide1 n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Managing a Scientific Laboratory Financial Management and Budgeting PowerPoint Presentation
Download Presentation
Managing a Scientific Laboratory Financial Management and Budgeting

Loading in 2 Seconds...

play fullscreen
1 / 14

Managing a Scientific Laboratory Financial Management and Budgeting - PowerPoint PPT Presentation


  • 108 Views
  • Uploaded on

Managing a Scientific Laboratory Financial Management and Budgeting. Budgeting for Proposals. Kathleen Speer Associate Dean for Faculty and Research USC Dana and David Dornsife College of Letters, Arts and Sciences. BUDGET | 3. Agenda Why prepare a budget? Budget Elements

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Managing a Scientific Laboratory Financial Management and Budgeting' - saul


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
slide2

Budgeting for Proposals

Kathleen Speer

Associate Dean for Faculty and Research

USC Dana and David Dornsife College of Letters, Arts and Sciences

slide3

BUDGET| 3

  • Agenda
  • Why prepare a budget?
  • Budget Elements
  • Fringe Benefit and Indirect Costs
  • Budget Justification
  • Compliance
slide4

BUDGET | 4

  • Why prepare a budget?
  • Required by Most Agencies
  • Costs of meeting the Project Goals
  • Ensure the Request is Sufficient/ Realistic
  • Expedite Award Setup
slide5

BUDGET | 5

  • Function of a Budget
  • The budget estimates, as realistically as possible, the cost of completing the objectives identified in the proposal.
  • The sponsor will use the budget details to determine whether the proposal is economically feasible and realistic.
  • The budget provides a means to monitor the project's financial activities over the life of the project.
  • Many sponsors (especially government agencies) provide either a form or a format for the budget. It is imperative to follow the agency's instructions explicitly.
slide6

BUDGET | 6

  • Impacts on Budget Planning
  • Sponsor’s Budgetary Restrictions
  • Type of Sponsor (federal, non-federal, international)
  • Project Period
  • Types of personnel appointments (faculty, staff, postdoc, student)
  • Fringe Benefit Costs
  • Sub Awardees and Collaborators
  • Location of Project (on or off campus)
  • Facilities and Administration Costs
  • Primarily …
slide7

BUDGET | 7

  • Impacts on Budget Planning
  • … Your project narrative
  • Go through your project narrative and make a list of everything that will have to be paid for.
  • People, consumables, publications, equipment, conference travel, collaborators…
slide8

BUDGET | 8

  • Budget Elements
  • Salary and Wages
  • Fringe Benefits
  • Materials and Supplies
  • Equipment
  • Travel
  • Publication
  • Sub Award
  • Other Direct Costs
  • Indirect Costs (or Facilities and Administration Costs)
slide9

BUDGET | 9

  • Various Budget Periods to Consider
  • Calendar Year (Jan – Dec)
  • Fiscal Year (Jul – Jun)
  • Academic Year (Aug 16 – May 15)
  • Summer (May 16 – Aug 15)
  • Government Fiscal Year (Oct – Sept)
  • Phases as defined by sponsor
slide10

BUDGET | 10

  • Fringe Benefit and Indirect Costs
  • Fringe Benefits
  • Assessed on salary and wages
  • Federal & non-Federal Rates
  • Postdoctoral Scholar rate (new Aug 2012)
  • Facilities and Administration Costs aka Indirects
  • On-Campus or Off-Campus
  • Other Sponsored Activities
  • Limited by sponsor
  • USC Research - Current rate Agreement July 9, 2012
  • http://research.usc.edu/dcg/proposal-development/rates-at-a-glance/
slide11

BUDGET | 11

  • Budget Justification
  • Budget narrative should answer the questions a skeptical reviewer would ask.
  • Make a persuasive case for investing in you and your team
  • Explain:
  • how all costs are determined
  • what each person will contribute to project
  • equipment needs – include quotes
slide12

BUDGET| 12

  • Compliance
  • Federal cost accounting standards, are a series of federal regulations, detailed in OMB Circular A-21, which stipulate how educational institutions administer the financial aspects of grant management.
  • Costs must be allowable and allocable.
  • Administrative and clerical salaries should normally be treated as indirect costs and not included a direct costs.
slide13

BUDGET | 13

  • Wrap-up
  • Read the solicitation, RFP or guidelines
  • List what needs to be paid for
  • Determine cost of each
  • Read the solicitation, RFP or guidelines (again)
  • Review proposal
  • Does the budget reflect reasonable costs for the project?
  • Is the budget justification in line with the project narrative?
  • Are there unallowable costs in the budget?
  • Can you complete the scope of work on this budget?
slide14

BUDGET | 14

  • Questions?
  • Kathleen Speer
  • Associate Dean for Faculty and Research
  • USC Dana and David Dornsife College of Letters, Arts and Sciences
  • kspeer@dornsife.usc.edu