Tyler R' Harrison, Ph'D'

1
Budgets, Money, and Real Money

• Tyler R. Harrison, Ph.D.
• Purdue University

2
Two Things to Remember

• If they didnt cut your funds, you didnt ask for
  enough money.
• They will cut your funds.

3
Q1 How much money should you ask for?

• Keeping in mind the quality of your projectas
  much as possible.
• Maximum amount of award/suggested amount for
  award
• Fully developed vs. modular budgets
• Length of grant is important
• Generally speaking, ask for what you need to
  finish the project as completely and easily as
  possible.

4
Q2 What are FA costs and what do you get for
them?

• Negotiated between the university and the funding
  agency.
• RFA may specify if FA are included toward
  maximums.
• They dont get you anything tangible.
• Typically calculated on all budget items, with a
  few exceptions.
• In rare cases a portion of those indirect funds
  may go back to the deans office, the department,
  or even you.

5
Q3 How much of your time should you budget for?

• As much time as you need to complete the project
  (ideally)!
• Maximum amount is probably around 25, but many
  are 10 15 and some are ZERO.
• Consider your role on the grant.
• Enough to reduce teaching load if possible
  (varies by university).
• Check with program officer for guidance.

6
Q4 What types of items can I budget?

• Guidelines vary, but if you need it to complete
  the projectask for it.
• Stats consulting
• Tech support
• A/V equipment
• Meeting spaces
• Catering
• Office supplies
• Postage
• Long-distance phone access
• A cadaver
• Computers for staff
• Media and design services
• Media monitoring service

• Subscriptions to online services
• Consultants
• Travel (various)
• Intervention materials
• Project manager (for big projects)
• Co-investigators
• Phone surveys
• Research assistants
• Computer kiosks
• Software
• Media buys
• Survey incentives
• Salary expenses for organizational members time

7
Q5 How do I justify my budget?

• For many agencies, the more detail you have the
  better.
• For large expenses you may want to get multiple
  quotes and provide a mean estimate.

8
Q6 How do I know I have budgeted for everything
I need?

• Youll probably forget something (sorry).
• Good news is that funding agencies often have a
  little bit of slush in how you spend your funds.
• If changes are major, you usually need permission
  to make those changes.
• Brainstorm, run budgets past other grant-getters,
  and work with your university grant office.

9
Q7 What do I have to report about my budgets?

• Many grants require an annual application for
  renewal.
• May also have to file more frequent financial
  reports.
• As PI, you are responsible for how the money is
  spent.
• You can request carry over of fund and no-cost
  extensions with most agencies.

10

• Show Me The Money!!!