Ohio University

Budget Preparation - B05

This procedure outlines the basic principles of a well-organized budget. The approved budget for the award summarizes the financial aspects of the project or program as approved during the award process. The budget should flow logically from the proposal narrative. It is important to remember that a budget is an estimate of costs to be incurred during the performance of the project. The development of a comprehensive and accurate budget is crucial to the success of a proposal, as sponsors and their reviewers are trained to discern inappropriate budgets.

This procedure outlines the proper handling of selected items of cost. For Federal grants OHIO will ensure compliance with 2 CFR §200 OMB Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.


This procedure applies to all sponsored projects subject to OU Policy 19.045 Administering External Grants and Contracts set up as separate accounts in the OHIO Financial Management System (FMS).


Sponsor Guidelines

Sponsors often have very specific guidelines for the preparation of budgets. The guidelines may limit the maximum costs or exclude a specific category, such as equipment. Such guidelines should be followed explicitly during proposal development.

Selected Budget Line Item Categories

This section provides guidance on how to treat commonly used budget categories.

Cost Sharing or Matching

Budget Justification Narrative


Training is available through ORSP upon request. Submit request for training to ORSP@ohio.edu


Forms and Templates

Budget Templates


Roles and Responsibilities

OWNER: PI/PD

CONTRIBUTOR: ORSP, CFAO/BUM

APPROVER: Department Chair, Dean


References

Agency Specific Information

2 CFR §200