The easiest way to develop a budget is to work with RGC. Some items to consider for inclusion in your budget are:
RGC will create and review your budget prior to submission to the Sponsor to ensure compliance with Sponsor, University and other requirements.
Cost sharing is the provision of internal university funds or third party funds in support of a project funded by a sponsor. Most sponsors do not require cost sharing; if it is not required, you should not provide cost sharing as part of your budget to the sponsor.
If the sponsor requires cost sharing, you can cost share in two ways - cash or in-kind. Cash cost sharing is in dollars. In-kind cost sharing is typically a provision of services.
A gift is the voluntary, non-reciprocal transfer of money or property from a donor to an institution. A gift may meet the interests of the donor and can be restricted or unrestricted. A restricted gift is a contribution designated for a specific purpose, program, or project. If the donor does not specify any restrictions, the gift is unrestricted and the institution allocates the funds according to its own discretion. Only the Advancement Office may accept gifts on behalf of the University.
A grant (i.e., “sponsored program” funding, or “award”) is the transfer of money or property from a sponsor to an institution that may require performance of specific duties such as research, budget reports, progress reports, and return of unused funds.