Budget Preparation

The proposal budget is the financial plan with estimated costs for the project or program. It includes direct costs, indirect costs, and cost sharing (when mandatory), these costs should be allowable, reasonable and allocable. Reviewers use the budget as a mutually reinforcing summary of the entire proposal, so considerable thought should go into its preparation to ensure that the budget reflect the narrative and covers the project costs in line with sponsor guidelines and GW institutional requirements.

Budget requirements may vary widely by type of award (i.e., cost reimbursement or fixed price) or by sponsor (i.e., federal or private). Most sponsors will provide detailed instructions and specified formats for budget preparation. Research administration pods have expertise in the development of budgets and can assist with proposal budget preparation. Review the information below for additional guidance on specific budget categories (as applicable):

Direct Costs
Indirect Costs (aka F&A)

Personnel

Total Salary Requested
Annual Escalation of Salaries and Wages for Budget Projections
- Effective December 1, all proposal budgets should factor in a new escalation rate of 4.5%. Please note that this rate is strictly for budget projection purposes and that final merit budgets will be determined by Finance and allocated based on HRMD pay and rewards process.

Goods and Services