Post on 31-Dec-2015
G:/Research Financial Services/RFS Strategic Projects/RFS Service/Budgeting for Faculty
HELP! My application deadline is approaching and I still need to complete the BUDGET!!
Faculty Exchange Series – Finance/BudgetingJanuary 15, 2015
UC442
G:/Research Financial Services/RFS Strategic Projects/RFS Service/Budgeting for Faculty
Agenda
• Introduction• Creating a Budget – A Researcher’s Perspective• Budget Tips and Resources• Question and Answer period
G:/Research Financial Services/RFS Strategic Projects/RFS Service/Budgeting for Faculty
Creating a Budget – A Researcher’s Perspective
• Refer to Dr. Hale’s spreadsheet
G:/Research Financial Services/RFS Strategic Projects/RFS Service/Budgeting for Faculty
Budget Tips and Resources
• The following Budget Tips were put together by the Office of Research and Research Financial Services to assist a researcher when creating a budget
Please refer to the following website:http://www.uoguelph.ca/research/guelph-conduct-research/budget-tips
G:/Research Financial Services/RFS Strategic Projects/RFS Service/Budgeting for Faculty
Budget Tips and Resources
• Highlights– Read the sponsor’s/funding agency’s guidelines
(expense eligibility, matching funds, carry-forward balances, budget variances, etc)
– For multiple sponsor budgets, show expenditures by ‘sponsor’
– Provide as much detail as required by sponsor. Unless required, limit the number of budget categories (e.g. travel vs. airfare, accommodation, and meals)
G:/Research Financial Services/RFS Strategic Projects/RFS Service/Budgeting for Faculty
Budget Tips and Resources
• Highlights continued– Ensure your budget is complete and accurate. Do not
over-inflate your budget.– Types of expenses commonly forgotten:
• Foreign currency exchange rates• Employee benefits in addition to salary costs• Salary increments for multi-year projects• The cost of a project manager• Indirect costs• Shipping costs• Taxes
G:/Research Financial Services/RFS Strategic Projects/RFS Service/Budgeting for Faculty
Budget Tips and Resources
• Highlights continued– Check your math!– Make sure any additional pages (e.g. budget
justification) are easily referenced and match with the budget categories
G:/Research Financial Services/RFS Strategic Projects/RFS Service/Budgeting for Faculty
Budget Tips and Resources
• Resources– Colleagues, Dept. Chair, College Research Manager and/or
your ADR– Budget Tips website (
http://www.uoguelph.ca/research/guelph-conduct-research/budget-tips)
– Appropriate UofG Departments:• Office of Research• Research Financial Services• Physical Resources• Procurement Office• Respective Department Administrative staff