Grant Budget Formulation Flashcards
7 cards from real Grant Writing practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Grant Budget Formulation flashcards as text
What is 'cost sharing' in a federal grant budget?
Answer: The grantee contributes resources beyond the grant award toward project costs
Cost sharing (also called matching) means the grantee commits its own funds or in-kind resources to complement the federal award.
Which budget category typically includes salaries AND fringe benefits for project staff?
Answer: Personnel
The Personnel category covers wages, salaries, and associated fringe benefits for employees working on the grant.
A grant requires 25% match on a $200,000 award. What is the minimum matching amount?
Answer: $50,000
25% of $200,000 = $50,000 that the grantee must contribute from non-federal sources.
What does 'unallowable cost' mean in grant budgeting?
Answer: A cost the funder prohibits from being charged to the grant
Unallowable costs are explicitly prohibited by the funding agency's regulations or program guidelines and cannot be charged to the award.
Which OMB circular (now part of 2 CFR 200) governs cost principles for nonprofit organizations receiving federal grants?
Answer: OMB A-122
OMB Circular A-122 established cost principles for nonprofits; it was consolidated into 2 CFR Part 200 (Uniform Guidance) in 2014.
In a grant budget, 'personnel effort' is typically expressed as:
Answer: Full-Time Equivalent (FTE) or percentage of time
Effort is reported as a percentage of total professional activity or FTE, ensuring accuracy in charging staff time to the grant.
Which item would most likely be placed in the 'Supplies' budget category rather than 'Equipment'?
Answer: A $500 box of disposable lab gloves
Supplies are consumable or low-cost items (often under $5,000 per unit), while equipment typically has a per-unit cost above the threshold and a useful life over one year.