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.
CLASSIFICATION GUIDELINES FOR GRANTS and GIFTS at NKU
For audit compliance and tax purposes, it is important that we classify grants, gifts and sponsorships correctly. This checklist can be used to determine the correct classification and where the funds should be administered.
Classified as grant and administered by Office of Research, Grants and Contracts (RGC)
A project which meets any of the following criteria, is considered a “sponsored project”. All funds meeting one of the following criteria for a grant will be managed by RGC
Sponsor requires specific deliverables (e.g., final technical or narrative report,
evaluation, technical assistance, and training). This does not include minimal
requirements generally related to required donor pledge payments and the
University's commitment to effectuate the donor's intent (i.e., stewardship).
□ The award is revocable for non-performance or if agency lacks continuing funds.
□ The sponsor is a federal, state, or local government agency or a national non-profit such as the American Cancer Society.
□ Sponsor generally, although not always, requires return of unexpended funds.
□ Award designates a sponsor employee (agent) as project technical monitor, as opposed to designating a contact person to improve communications.
□ Award contains intellectual property rights provisions and/or technology transfer.
□ Award restricts or monitors publications or use of results.
□ Award payments are contingent upon programmatic or fiscal reporting (e.g., specific milestones, invoices).
□ Award includes "boilerplate" terms and conditions imposed by the project sponsor or
negotiated with the sponsor by the University.
□ Award requires protection of sponsor and confidential information.
□ Award contains an itemized budget, which may require sponsor approval to modify and/or that is subject to the provisions of federal cost accounting standards.
□ Request for funding will be used to fulfill a matching or cost sharing commitment on another sponsored project or requires a matching, cost sharing or other financial commitment from the University.
□ The project is linked to other sponsored research projects or contracts being conducted by faculty/researchers.
□ Project involves the use of human subjects, vertebrate animals, radioisotopes on humans, radioactive materials, recombinant DNA, human body substances, etiologic agents or proprietary materials.
□ Project involves foreign collaborators or is subject to Export Control policies.
Classified as gift and administered by NKU Foundation
Activities supported by a donor that are generally not considered sponsored projects may include the following characteristics and shall be administered by Institutional Advancement. Check any that apply.
□ Gift supports an unrestricted purpose or such activities as endowments (e.g., endowed chairs, professorships), capital projects (e.g., construction or renovation,
equipment), or general research support.
□ Gift contains only minimal requirements, generally relating to required donor pledge payments and the University's commitment to effectuate the donor's intent (i.e., stewardship).
□ Gift requires only minimal reporting to the donor in the form of a general statement of how funds were used. Such confirmation may not be a technical or a formal financial report of any detail. However, if publications result, copies may be shared. In addition, confirmation of proper utilization of funds would be allowed such as in a "stewardship report" or “annual endowment report.” For example, if a company provided funds to help students build a solar-powered vehicle for a national student competition, the PI could report back how the students did in the competition, but not be required to provide detailed technical information including raw data.
□ Gifts are generally irrevocable.
□ Unrestricted grants are awards not identified by the sponsors as specifically being a gift or charitable contribution; however, these awards have no strings attached - no statement of work, no deliverables such as technical reports, no IP terms, etc.