Budget Preparation Tips

A project budget is an essential part of a grant proposal. The simplest way to begin preparing one is to list all activities that the proposed project is going to entail and then to ask what is needed to carry out those activities.

Some sample questions:

  • Where will activities take place? Is appropriate space available? Will this involve costs?
  • Will equipment be necessary?
  • For faculty research projects, does the principal investigator need summer or sabbatical salary?
  • Are students involved in the research? Do they need to be paid?
  • Will presenters, consultants, or participants need to be paid?
  • Will anyone be traveling as part of the grant activities?
  • Will supplies (paper, pens, folders, computer disks, etc.) be needed?
  • Will books or other study materials be needed?
  • Are funds needed for publication costs?

A Couple of Hints:

If you are including faculty salaries as part of the grant request, be sure to add 16.5% for fringe benefits for stipends and 32.5% for annual salary. Student wages do not carry fringe benefits.

If a funding agency pays indirect cost (most federal ones do), Roanoke College's rate is 46.3% of salaries and wages of all personnel involved in the grant (faculty and students) and 31% of benefits.

Finally, please feel free to contact Dr. Ed Hamilton (375-2409; hamilton@roanoke.edu) for assistance in constructing budgets or if you have questions about some item or procedure.