Budget Considerations
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Fellowship Narratives
Awarded fellowships pay out in a variety of ways. Some work just like other grants, and you will be asked to submit a budget for your activities during the award period, then the funds will be sent to the post award office which will open an account for you and pay out expenses. Others pay a set amount of money directly to the PI, and the funder does not require a budget.
LMU treats all fellowship applications in the same way, however, and creates a budget for each. This allows:
- each application to be tracked
- requirements of an award to be administered effectively, for example, when a course release is awarded, or sabbatical is extended to a full year
- the faculty member to be more effectively assisted when this is required.
The ORSP staff member you work with will acquire your institutional base salary from HR, and will define it in a budget according to what you will be requesting. Fringe benefits are included in all budgets, unless the funder specifically prohibits them. Similarly, Facilities & Administration (F&A) or indirect costs are added to all external funding budgets, unless the funder specifically restricts these. In cases where the funder does not allow fringe or F&A, a cost sharing agreement may be issued in recognition of these as real costs the University bears.
Travel expenses, the costs for student assistance, or other items you will request will be added in. LMU estimates these costs according to federal guidelines.
Occasionally the fellowship you are applying for will not cover the complete 50% of your salary required to extend your sabbatical to a full year with full pay. In this case, a conversation must be held with your dean or associate dean in order to make the appropriate plans. The ORSP can help this discussion along, given enough lead time.
When your budget is complete and your narrative is near completion, the project can be routed to be signed off by your chair and dean.