Helpful dos and don’ts for preparing an application budget
The majority of our schemes ask for budget information. We hope that the following tips are useful for potential applicants and university research offices.
- Do consult with your finance office at an early stage regarding costings, in particular for salary, National Insurance and superannuation costs.
- Do include inflation for all non-salary costs, e.g. technical assistance, consumables, travel costs. But don’t include inflation in the salary budget. The Trust will endeavour to cover inflationary increases subject to any maximum grant value.
- Do include salary increments, but don’t include estimates for future pay awards.
- Do provide a full justification/breakdown, where requested, for the items requested. Explain how the items directly relate to the research proposed.
- Do provide a breakdown when multiple costs are being included under the same heading, e.g. consumables, research trips. Provide details of the volume and numbers of units where appropriate.
- Percentage of time spent on a project and/or percentage of replacement teaching requested: do provide this as a percentage of time over the whole grant. Don’t confuse this with the percentage FTE (Full Time Equivalent), which in some cases is different.
- Do consult the Frequently Asked Questions on the Trust’s website and the help notes for the scheme to which you are applying.