Budget Development

The template below should be used during the proposal phases of your application. These spreadsheets have the capability to calculate inflation, fringe benefits and indirect costs. They also automatically exclude equipment, participant costs and sub-agreements for the first $25,000.

Please note that in the template fringe benefits for FY 22–23 are projected at 42% and include social security, retirement and medical insurance for faculty, staff and full-time professionals. Fringe benefits for students and temporary employees are limited to FICA at 7.65%.

Budget Template (up to Five Years)

Each budget typically needs a budget justification or budget narrative for a proposal application. It should explain in words the budget that has been created for the application. The justification should be detailed and easy to understand. Unless otherwise stated specifically in the application, please use the sample below.

Budget Justification (Narrative) Sample

This effort calculator will convert your percent effort into person-months.

Effort Calculator Excel Spreadsheet