The award notice should provide a summary of the award budget and funded budget categories. The following example is from one federal agency. While the format of the budget will vary for each sponsor, the general information provided will typically be the same.
The following table explains each data element found in the award financial information summary.
| Data Element | Explanation |
|---|
| Line 19 | Identifies the dates for the budget period. Note: if carryforward authority is not provided for the award, the funds will expire at the end of the budget period. |
| Line 20 | Identifies the total amount of direct costs and indirect costs available for the budget period |
| Line 21 | Identifies how much funding is being carried over from the previous budget period |
| Line 22 | Identifies how much funding is offset from the previous budget period |
| Line 23 | Identifies the total amount of federal funding available for the budget period – it is the sum of Lines 20-22 |
| Line 24 | Identifies the cost share obligations for the budget period, which is the amount of University funds required for the award. Note: some sponsors require the cost share obligations to be met during the budget period, while other sponsors require the cost share obligations to be met during the period of performance. |
| Line 25 | The total amount of federal and University funds for the budget period - it is the sum of Lines 23 and 24. |
| Line 26 | Identifies the dates for the project period, also known as the period of performance |
| Line 27 | Identifies the amount of funding provided to the project to date – this is not an indication of the total amount of the award |
In addition to the award financial information summary, the award notice may also provide funding levels for each budget category. Each sponsor establishes specific requirements and allowability for rebudgeting and prior approval of cost categories that are not funded. The following example identifies funded budget categories.
The award notice may also provide a summary of expected funding for each budget category throughout the period of performance. This summary helps with funding projections and budget management; however, future funding levels are not guaranteed. Sponsors may adjust funding levels based on factors such as available funding, the PI’s satisfactory programmatic performance, and compliance with award terms and conditions.
