Common Budget Mistakes
Lessons Learned from a Recent Grant Writing Workshop
No PI effort listed – The most important element in a proposal is the ideas of the PI. Therefore, PI effort should be included (as a % not hours) even if you are not requesting agency reimbursement.
Indirect Cost must be included - All proposals must contain indirect cost (see the CGA web for current rates), or a copy of agency policy which restricts indirect costs for all grantees, or an indirect cost waiver.
Make sure the budget adds correctly! – Also check for rounding errors.
Use the correct fringe rates for faculty and grads – This information is available from the CGA web site.
Don’t show pennies! - The inclusion of pennies implies a degree of precision that doesn’t exist when doing research. Budgets are best guesses of project cost if everything goes according to the original plan.
Put commas in numbers - Numbers with commas are much easier to read. Your proposal should please the reviewer not irritate them.
Use the columnar format for budgets - Numbers should align on the right. They should be easy to follow.
Don’t include budget categories without numbers. – If you aren’t requesting equipment funds, don’t show equipment line items.
Equipment items must cost at least $5,000 – Don’t list items in the equipment category unless they meet the definition.
Start your budget with the most important item – Begin with salaries.
Don’t over commit PI time to the project - Be realistic about the time you can devote to the project. What would happen if you submitted 3 proposals each showing 50% effort and they all got funded?
Don’t measure PI time with hours – There is no such thing as a standard 40-hour work week for faculty. It’s important to use % of effort.
Use agency electronic forms – when available
Check the CGA Web site!!!!! www.cga.msu.edu