| Proposals must include a budget, a detailed breakdown of the financial support requested from the sponsoring agency. The budget should reflect the best estimate of the costs requested to conduct the work outlined in other sections of the proposal.
Preparation
Most sponsors provide detailed instructions for budget preparation; many provide budget forms or require a specific format. Always read the agency guidelines before preparing a proposal budget.
Budgets for federal contracts and grants are to be prepared in accordance with Office of Management and Budget (OMB) Circular A-21, "Cost Principles for Educational Institutions." OMB A-21 identifies allowable direct cost categories and prescribes a standard distribution and allocation method for the recovery of F&A costs. Because OMB A-21 also establishes standards for consistency in the treatment of costs for institutional accounting, the A-21 regulations apply to grants, contracts, and other types of awards accepted by the campus.
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