Definition of “Budget”: a detailed statement outlining estimated project costs to support the sponsored project. A budget should include all the Direct Costs and Facilities and Administrative (F&A) (or overhead) costs required to carry out the project objectives. Proposal budgets in Kuali Coeus should match the level of detail submitted to the sponsor. Specific requirements, including cost principles as defined by the federal government in the Office of Management & Budget (OMB) Circular A-21and OMB’s Uniform Guidance, must be adhered to at the proposal stage and when the funds are expended. Proposals to non-federal sponsors requesting approval of direct costs which are unallowable for federal reimbursement should clearly include and justify those costs in the budget.
- Direct Costs – Expenses that are 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 stipend and tuition.
- F&A Costs – Institute expenses that cannot be specifically identified with a particular project or activity.