Preparing your research grant budget

Transcription

1 Preparing your research grant budget Dr Stuart Newman Head, Research Development Team

2 What is a budget? List of project expenditures? Yes and no Key part of the feasibility story Can it be done for the money? Budget Justification Doesn t need to be complicated

3 How much should I ask for? Whatever it takes to safely deliver the project, no more, no less In general, ask for neither: the maximum (too risky, takes up the funding pool) the minimum (unexciting prospect, may lack ambition) Too low project not feasible as not realistic Too high not feasible as poor planning Look at previously awarded grants

4 Good budget management = good planning A good budget is constructed around the project plan Project plan is built around what you need to do to get the job done The budget should reflect the spending you need to do to deliver the project Bottom up not Top down Use standard rates website

5 Matching funds (contributions) Many grant awards must be matched Cash usually includes: Salaries for project-specific staff In-kind usually includes: Includes existing salaries (i.e. ongoing appointments) Facility access Partner staff time Get confirmation of cash early ( from element head)

6 Who you gonna call? For budget strategy and tactics Supervisors Centre Directors Research mentors For technicalities

7 Authorised expenditure Will usually be a list of what s ok and what s not Personnel costs - What skills do I need (Teaching relief, HDR scholarships, RA, RF, transcription, consultants) and for how long? Equipment does the project have specific equipment requirements currently unavailable? Should I hire, borrow, buy? If it exists, are there access or user charges? Project maintenance eg consumables (labware, survey costs, postage, catering for workshops, incentive payments for participants). Travel & Accommodation (car hire, airfares, taxi, per diem, accommodation) where do I need to go and how long do I need to be there? Finance can help with estimates. Build in some contingency and, if relevant, the University s 25% overhead.

8 What is a budget justification? Bad We request two economy class return tickets to Sydney. Good (if you have space) link budget item to project outcomes Project dissemination will be facilitated by presentation at national conferences. Accordingly, we request two return economy class tickets to attend the 7 th National Haloumi Convention in Sydney Exemplar project library

9 What if I don t get the full amount? Redo the budget based on your revised plans. Finance will work with you to plan a new budget within the finance system. Options include: Reduce the aims of the project Reduce the number of participants Reduce the number of sites Reduce the number of experiments Find alternative ways to reduce the budget eg can work be done by HDR student with a scholarship instead of a full time RA? Sometimes a reduction in scope will require the agreement of the funding agency so check with OR whether this is necessary.

10 Funding Agreement Every grant will have one Ranges from a letter to a phone book Between the funding agency and the administering organisation or Admin Org not with you Make sure you read it and keep a copy handy for reference

11 What does your grant agreement say? 1 All contracts require the University to report on expenditure - some will require an auditors report which Finance will organise. Remember if the expenditure doesn t specifically relate to achievement of the project aims and wasn t included in the original budget then it is unlikely to be acceptable to the funding body. Some may require you to seek approval if you want to use funding outside of what was specifically requested or transfer more than 10% from one expenditure item to another. Most will require repayment of unspent funds at the end of the grant. You can t keep left over funds for other projects! Regardless of what the contract says expenditure still needs to comply with the University s policies and procedures.

12 What does your grant agreement say? 2 For example, the ARC says: ensure that expenditure on each Project described in Schedule A is in accordance with the Project Description contained in the Proposal and within the broad structure of the proposed Project Cost detailed in the Proposal or any revised budget, aims and research plan submitted by the Administering Organisation which has been approved by the Minister. Can t use the funding for purposes specifically excluded in the Funding Rules : General infrastructure that should be provided by the University. Salaries for CIs or PIs; Teaching and teaching relief, except as included in the budget; Costs associated with special studies (study leave) programs; International students fees, HECS and HELP liabilities; Costs not directly related to a Project, includes but not exclusive to, visas, relocation, costs of dependants, insurance, and mobile phones (purchase or call charges). If in doubt, ask the

13 Caution! Do not charge items to the grant project that belong to another project. Grant projects are audited! Wait until project accounts set up (unless Head of Element is underwriting) If costs need to be distributed across projects, prepare a plan on how this should be done and discuss it with your Financial Consultant. Live within your means. Going into deficit can only create problems for you and will need to be repaid from any surplus funds you have. Discuss your budget with your Fin Con and/or OR (grants team or research development team). Get their advice and guidance.

14 If in doubt Contact Contact your FinCon

15 Questions?