Definition of “Budget”: a detailed financial statement of estimated project costs, including all the Direct and Indirect costs required to carry out the project objectives. Proposal budgets in Kuali Coeus should match the level of detail submitted to the sponsor. Cost principles as defined by OMB’s Uniform Guidance must be adhered to at the proposal stage and when the funds are expended.
- Direct Costs – Expenses specifically associated with a particular sponsored project or activity and/or can be directly assigned to that project or activity with a high degree of accuracy (for example, graduate student salary and tuition).
- Indirect or Facilities and Administrative Costs – Institute expenses not specifically identified with a particular project or activity.