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Budget Preparation Guidelines

Externally Sponsored Grants and Contracts

A budget with justification must be emailed to Grants Accounting for review prior to proposal submission.  Use the budget format required by the sponsoring agency.  If no form is required, use a format desired by the Project Investigator (PI), or one of the Grants Accounting templates to the right. 

Because ISU receives grants and contracts from federal funds, ISU applies the Office of Management and Budget (OMB) Circular A-21, Cost Principles for Educational Institutions to all awards.  For costs to be allowable, they must be reasonable, allocable to the sponsored project, allowable under University and sponsor policy, and treated consistently with respect to being charged directly or included in the Facilities & Administrative (F&A, aka Indirect Cost) rate.  For more information on these cost principles, see

Use the budget guidelines given by the granting agency.  If a template is needed, please select any from the sample budget list to the right.  For multiple year awards, prepare annual and cumulative budgets.  Click on the Direct Costs and Facilities & Administrative links to the left for a checklist of items to consider when preparing a budget.

2015-05-28T07:24:11.113-05:00 2015