Common use of Budget Narrative Clause in Contracts

Budget Narrative. The Budget Narrative should thoroughly and clearly justify or explain each Budget Category (Object Class) and follow all guidelines and limitations as provided in the application package. The Budget Narrative must be clear, specific, detailed, and mathematically correct; it should correspond to the information and figures on the budget forms. A well-written Budget Narrative allows the Applicant and FMCSA to understand all costs included in the budget and to monitor the expenditure of funds and determine whether the budget items are allowable for reimbursement under Federal cost principles. Project Name Personnel Costs $ Fringe Benefits $ Travel $ Equipment $ Supplies $ Contractual $140,000 Construction $ Indirect Costs $ TOTAL $140,000

Budget Narrative. The Budget Narrative should thoroughly and clearly justify or explain each Budget Category (Object Class) and follow all guidelines and limitations as provided in the application package. The Budget Narrative must be clear, specific, detailed, and mathematically correct; it should correspond to the information and figures on the budget forms. A well-written Budget Narrative allows the Applicant and FMCSA to understand all costs included in the budget and to monitor the expenditure of funds and determine whether the budget items are allowable for reimbursement under Federal cost principles. Project Name Personnel Costs $ Fringe Benefits $ Travel $ Equipment $ Supplies $ Contractual $140,000 300,000 Construction $ Indirect Costs $ TOTAL $140,000

Budget Narrative. The Budget Narrative should thoroughly and clearly justify or explain each Budget Category (Object Class) and follow all guidelines and limitations as provided in the application package. The Budget Narrative must be clear, specific, detailed, and mathematically correct; it should correspond to the information and figures on the budget forms. A well-written Budget Narrative allows the Applicant and FMCSA to understand all costs included in the budget and to monitor the expenditure of funds and determine whether the budget items are allowable for reimbursement under Federal cost principles. Project Name Personnel Costs $ Fringe Benefits $ Travel $ Equipment $ Supplies $ Contractual $140,000 375,000.00 Construction $ Indirect Costs $ TOTAL $140,000375,000.00