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|Writing a Budget Narrative|
Note: This information is slightly out-of-date
The budget narrative is sometimes referred to as the budget justification. The narrative serves two purposes: it explains how the costs were estimated and it justifies the need for the cost. The narrative may include tables for clarification purposes. The following is a sample budget narrative.
Sample Budget Narrative
The fringe benefit rate during the academic year for all personnel except graduate assistants is ___%. The summer fringe benefit rate is __%. There are no fringe benefits applied to graduate assistant salaries.
Materials and supplies for each year are estimated as follows. All costs are based on historical costs for similar projects.
In Year 1, a subaward to X Company is needed for analysis of ____________________. Two trips to Rochester, New York are required. Subaward costs for Year 1 will be $38,374.
In Year 2, X Company will _________________. Two trips to Rochester, New York are required. Subaward costs for Year 2 will be $27,259.
Facilities and Administrative (F&A) Cost rate is ___%, as negotiated by the Department of Health and Human Services on ___. Base includes direct costs less capital equipment, amount in excess of $25,000 of first year for subcontracts, and participant costs. Address of cognizant Federal agency is: