When submitting an application and proposal for funding, the inclusion of a budget is a standard part of the process.  Creating a budget usually involves two major components:  1) the itemized budget; and 2) the budget justification.  Below you will find information to assist you in the development of both the budget and budget justification.

BEFORE YOU START

Before getting started, be sure to read the funder’s guidelines on the budget and eligible expenses.  Use the funder’s forms and spreadsheets to create the budget and budget justification, if provided.  Some funders, for example some Tri-Agency grants, allow for flexibility in how the funding is spent following the receipt of the award.  Other funders expect expenditures to strictly adhere to the proposed budget.  It is important to understand the different funders’ guidelines and develop a budget that meets the needs of your project.

BUDGET

The budget should:

• Be an itemized line-by-line list of each type of expense;
• Be based on informed estimates and actual quotations;
• Be realistic. If the budget is too high or too low, the reviewers may question the feasibility of the project;
• Correspond to the proposal narrative; all major elements detailed in the budget should be addressed in the narrative. Follow the natural order of budget within the budget justification;
• Be consistent in its presentation. For example, commas vs no commas, decimal points vs no decimal points, alignment, underlining, font, and bolding;
• Round budget item totals up to the nearest dollar;
• Be sufficient to perform the tasks described in the narrative;
• Correspond to the granting agency’s guidelines with respect to content and detail;
• Adhere to Brandon University’s policies and procedures; and
• Include expenses incurred over the proposed duration of the research project/term of grant. Retroactive expenses are not normally eligible.

BUDGET JUSTIFICATION

Many funders request an additional document often referred to as a budget justification.  The budget justification goes a step beyond the itemized budget to explain why each item is needed, its purpose, and how the dollar total was arrived at.  The budget justification should:

• Provide a general description of the line item;
• Explain how the item relates to the activities outlined in the work plan;
• Verify the cost of line items by describing how they were arithmetically determined. Provide enough information for reviewers to see how you arrived at the total; and
• Reflect the itemized budget, presenting justifications in the same order.

The ORS has created a list of common eligible expenses to assist researchers in preparing their budgets and determining specific amounts.