When you have completed the first draft of your budget, including all anticipated expenses, identify which costs you will ask the sponsor to fund. Review the Cost Accounting Standards (see Cost Principles--OMB Circulars), including sponsor guidelines and Drake guidelines, see Allowable Costs. As an educational institution, Drake University must follow OMB Circular A-21 for cost principles. Identify which costs will be covered by the University and obtain appropriate approval for any cost sharing or matching funds you expect the University to contribute. If you or any of the personnel assigned to your project will require release time or reassignment of workload, obtain approval from appropriate deans and/or department chairs.
Allow time for SPA to review your budget to ensure all federal, University and sponsor guidelines are met.