The budget is the central nervous system of a proposal. It drives the project's activities and adds greatly to the proposal reviewer's understanding of the project.
Funding sources require varying degrees of detail in the budget portion of a proposal. Most government funding sources require a great deal of detail, and usually provide budget forms and instructions for completion. Foundations and corporations are less formal in the structure of their requirements, but certainly are pleased to find a budget that is well prepared and complete. If a funding source requires a particular budget format, we must comply with their requirements.
The budget that is presented with a proposal is an estimate of what the costs will be. A funding source will provide a degree of latitude in the actual spending of the funds as long as we do not exceed the total amount of the grant. Also, the grant funds do not need to be spent to the penny as you plan in the budget. There are certain degrees of freedom in spending the grant funds and the requests for additional changes may be authorized by the funding source. Such requests should be in writing and forwarded to the Office of Stewardship and Grants and subsequently to the Business Office for processing. The response, also in writing, becomes a formal 'budget modification' and changes the conditions of the grant. The degree to which you have adequately planned the budget reduces the number of changes that may be required, and also establishes a degree of credibility necessary to obtain permission of needed modifications.
If a budget requires a College cash match (which is currently not in the cash match budget), approval from the Dean of the College is required before proceeding with the application. The Vice President of the Business Office will also need to sign off on the External Grant Final Approval Form .