Financial plan PREPARATION

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STEP 1 Begin with an unpleasant spending plan Or set up the financial plan after the draft

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STEP 2 Calculate all points of interest of pay rates and advantages Consult fund officer As a general guideline for computing your costs, figure pay rates will be 60 to 80% of the aggregate demand. Assessment and spread will be 10 to 15% of the aggregate. Ensure your PI's pay considers any obligatory top or other giving office rules.

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STEP 3 Calculate extra costs Consult back officer As another specialist, you ought to ask for a generally humble spending plan. Be cost productive – yet don't make your spending so low that you can't take the necessary steps proposed in the event that you are supported.

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STEP 4 Follow your proposed arrange with spending things Tell your story through your financial plan

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STEP 5 Budget Narrative Give insights about cost things, not general rules, i.e., "3 reams of print paper @ $7"- - not "office supplies" Explain things, i.e. Program Coordinator will be employed amid the main month of the program and get 11 month compensation the principal year - not simply incorporate a decreased pay rate. Utilize spending account to recount the story promote

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STEP 6 Funding Sources Several segments for subsidizing sources List accomplice commitments, i.e. instructor member pay rates, understudy WorkStudy, refreshments, travel, printing costs Leverage different assets, i.e. past research stores List INKIND commitments, i.e. OneNet

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STEP 7 Include more extensive effects Student analysts or laborers Minority members Community associations Community benefits

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STEP 8 Review another model spending plan Ask budgetary officer or give designer to audit spending plan – 0 resistance for mistakes! Check whether another person can portray the venture objectives from perusing the financial plan

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Final Considerations Remember that you are asking for cash. Keep in mind that the grantor needs to give you his cash! Keep in mind that you are the most ideal individual for the employment Ask for enough; request simply enough. The grantor needs to make the best speculation for his cash - and YOU are venturing forward as the best speculation.