Budget preparation
Why prepare a budget?
The Budget Form for Research Contracts must be completed internally by University staff for all financial research contracts, and approved by the Head of Department, or delegate. If the contract value is over $1M the Dean's signature is also required. It is strongly recommended that you calculate your project budget well before a final price is agreed with the sponsor, and certainly before the contract is submitted to the Research Office for review and negotiation.
The form provides a straightforward method for calculating project budgets, the price that will be charged to the sponsor of the contract research, and the distribution of overheads to Faculties and Departments. It is confidential and must not be forwarded to the external parties - provide them with a separate breakdown of costs.
Further information and Budget Form
- What is a budget?
- Calculating the price
- Using the budget form (download Form via this link)
- Budget case studies and examples
Submitting the Form to the Research Office
If you are receiving funds from an external sponsor your contract will only be signed off if you have supplied the Budget Form with your other documentation. The form allows the Head of Department to approve the budget and also serves as a means of requesting a new project code.
The form must be authorised and submitted to the Research Office together with a copy of the contract and the new contract checklist. Forms are forwarded to Financial Operations once the contract has been fully executed.
If you are unable to submit the Budget Form with the remaining documentation for review, contact the Research Contracts Group and other arrangements will be made. In this case the form may be received at a later date, providing that it is received before contract authorisation.
Summary of staff responsibilities
| Chief Investigator | Calculates the price for the contract prior to reaching agreement with the research sponsor. |
|---|---|
| Department Administrator | Checks pricing calculation, organises departmental/faculty authorisation (signatures), and provides account string information where required. |
| Head of Department | Authorises and sign-offs on pricing calculation. |
| Dean | Considers requests for waivers or reductions in overhead after review of written business case submitted by Chief Investigator and endorsed by Head of Department. Approves all forms for contracts above $1M. |
| Research Office | Provides advice on costing and pricing of research contracts, and submits budget forms to Financial Operations. |
| Financial Operations | Opens new project accounts based on information supplied in budget form, and updates budget details in Themis. |