Help:Project budget worksheet

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Contents

Getting Started

Please read the budget planning page before preparing your budget. Your project budget will include expenses and a plan for an EQUAL amount of funding.

  1. Get the project budget worksheet here
  2. Save it to your computer
  3. Open the worksheet and fill it out using the following instructions. Remember that this budget is an estimate of your revenue and expenses. It is not expected to be perfectly accurate or precise, but it should give an overall representation of your planned revenue and expenses for the year.

Project Revenue Instructions

First, rename the “Project Revenue” tab by double clicking on it and replacing "Project" with your team name. IMPORTANT: the format for the name on the tab must be [teamname] Revenue (e.g. Trike Team Revenue or Trike Revenue). Then, select your group from the drop down list and type in the project name. Fill in all budgeted project team revenue in the appropriate worksheet sections. If you scroll over the Account Names with red tabs, you will see descriptions of each revenue account. Please include a detailed description and/or rationale for all revenue sources not already in hand. Note that, depending on how much you budget for expenses, you may need to adjust revenue amounts later in order to balance your budget.

Project Expenses Instructions

Rename the “Project Expenses” tab as you did for "Project Revenue" IMPORTANT: the format for the name must be [teamname] Expenses (e.g. Trike Team Expenses or Trike Expenses), and it must be consistent with the form of the team name used on the Revenue sheet. Please fill in all budgeted project expenses in the proper worksheet section. Be specific and itemize all major expenses with detailed descriptions. For example, instead of simply putting in “project equipment - $300” under account 6030 Equipment, an energy project might instead put in “Solar Pathfinder - $200.” OR instead of putting “parts - $100,” a water project might have “handpump raw materials and fittings - $100” under 6070 Project Supplies. See below for account explanations-what types of items should be placed in each account.

Put your team name on the Group Budget tab

Click on the Group Budget tab. Fill in the name of your team in one of the spaces marked “Team 1, 2,3, etc.” Your itemized revenues and expenses should automatically import into the Group Budget tab. IMPORTANT: for this to work, the name of your team on the Group Budget tab must match what you put on your Revenue and Expenses tabs (e.g. if you filled in “Trike Revenue” and “Trike Expenses” on the tabs, you must put “Trike” as your team name on the Group Budget tab). Collaboratory overhead is automatically calculated for you (follow links for policy description). General Group overhead is money that your project team is donating to your Group for general expenses such as t-shirts or recruiting and team building events. With your Group leader, decide how much General Group overhead is appropriate and put that amount in the proper space on the "Group Budget" tab.

Submit your Project budget

The Team Advisor submits the budget to demonstrate that she has reviewed and approved it.

Resources

Expense Account Explanations

  • 6200 Staff Overhead - this expense is calculated automatically as 5% of the external revenue and helps cover Collaboratory Staff and Executive operating costs
  • 6250 Endowment Overhead - this expense is calculated automatically as 2% of the internal revenue and go towards a Collaboratory endowment for financial sustainability
  • 6260 General Group Overhead - this optional overhead transfers an amount from a project/staff team to the general group account which is why it is listed as an expense for the team and revenue for the group.
  • 6000 Copying – e.g. photocopying on Frey/Boyer/etc. copiers, not College Press
  • 6005 Food – Collaboratory or Group-sponsored special events; e.g. Water Group barbecue, leadership workshop, service day, retreat
  • 6006 Training – any costs associated with non-site team training of members; e.g. solar power conference entrance fee
  • 6007 Lodging - any costs for non-site team related housing
  • 6008 Transportation - any costs for non-site team travel; e.g. team takes a field trip to see a similar project in action; reimbursement for the use of personal vehicles is $.48 per mile.
  • 6010 Hospitality - costs associated with hosting a guest; e.g. honorarium for a speaker
  • 6020 Postage – all costs related with actual sending out of mass mailings; e.g. envelopes, postage
    • 6021 Newsletters
    • 6022 Support Letters
  • 6030 Equipment – cost of purchasing project machinery, tools, testing equipment, computer, camcorder, anything used "on" the project to analyze, test, present the project, etc.; e.g. flow meter, strain gages
  • 6040 Office Supplies – any general use supplies e.g. pens, pencils, notebooks
  • 6050 Printing – e.g. project presentation notes, part specifications, etc. includes costs of using College Press
  • 6070 Project Supplies – the project itself: all supplies used in projects; e.g. raw materials, system parts
  • 6075 Project Repairs - costs associated with fixing a broken item
  • 6090 Shipping – non-mass mailing shipping; all postage and shipping materials (boxes, packing peanuts, bubble wrap), and costs through any shipping organization; e.g. sending project supplies on ahead of your site team
  • 6100 T-Shirts and other wearables – any articles of clothing; e.g. Collaboratory hoodie, Group-specific t-shirt, nametags
  • 6130 Rent – cost of using equipment or property that is not owned by your team e.g. Genesis building rent
  • 6150 Site Team Support - money your project is committing to give to a specified site team; this money will be automatically transferred to that team when it is formed; e.g. Education group transfers money to J08 site team
  • 6140 Student Wages – total amount for salaries or stipends of any academic year or summer work-studies; include a position description, an hourly rate (generally $7.80 an hour), hours per week, and # of weeks; please see the student employment page for more information.
  • 6170 Memberships - dues or other costs of being part of an organization outside of the Collaboratory; e.g. Association of Evangelical Relief and Development Organizations (AERDO) member dues
  • 6140 Advisor Stipends/ Release Time – Summer stipends for faculty are an option for projects with sufficient budget.
    • Summer stipends funded through an external grant may be budgeted at the discretion of the faculty member, up to a MAXIMUM of pro-rating salary. The maximum rate is 1/40 of salary per week for faculty on a 9-month contract.
    • Summer stipends funded through an internal grant from the Collaboratory will be paid at the same rate as stipends paid through the Faculty Development program of Messiah College.
    • Stipends over and above salary may not be paid for work done during the contract year for faculty on a 9-month contract, or at all for educators on a 12-month contract.
    • Course release time is budgeted at 125% of the cost of adjunct replacement. Release time requires the approval of the faculty member's Department Chair.
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