Introduction to Budget Information
This section of the OSP web site provides guidance and information for faculty and staff in developing budgets for sponsor proposals. Please click on the links found in the left hand menu for detailed explanations regarding each of the costs categories. Additional questions related to the development of sponsored program budgets should be directed to osp@troy.edu.
Sponsored Project Budgets Defined
A sponsored project budget is an estimated financial representation of the proposal’s statement of work. Consequently, a proposal’s budget should demonstrate how the University will achieve the project’s objectives with an appropriate amount of resources. A budget should also demonstrate that the University’s costs are fair and reasonable. When submitted, a budget represents the University’s best estimate for the project’s costs. If awarded, TROY will be required to adhere to the budget structure for the life of the project; therefore, faculty and staff writers must strive to make budgets as accurate and complete as possible prior to submission. Once awarded, the University will require a sponsor’s prior approval to revise a budget.