FAQ: Question & Answer
What are the requirements in creating my budget for a Fellowship application?
Create a 1 year budget to include the following:
You will be expected to prepare and submit a budget narrative form (to explain the costs) and a budget detail worksheet (to detail the costs and category).
- Personnel - The salary should be based on your current income with consideration to cost of living in Washington, D.C. You must document how you calculated the salary requested. See the Fellowship solicitation for additional details.
- Fringe Benefits - Allowable benefits are detailed in the Fellowship solicitation. These include life insurance, health insurance (individual plan), disability insurance, state workers’ compensation, retirement plan, (see the Retirement Plans Community section of the IRS Web site for self-employed pension plan details), Federal Insurance Contributions Act (FICA) tax (typical employer contribution of 7.65% of salary), public transportation cost (see www.wmata.com for actual metro or bus expenses). Some research on your part will be necessary to accurately detail the proposed fringe benefits.
- Travel - Visit www.gsa.gov when developing your travel budget. Some examples of work-related travel during a Fellowship include travel to conferences or training, travel with OVC staff to various site visits across the U.S. No international travel is allowed.
- Supplies – Consider supplies that you will need, such the cost for a Blackberry purchase, if necessary.
- Other – Consider possible expenses, such as monthly cell phone/Blackberry use, conference/training registration fees, professional reference materials, and business cards.
Last Updated: 1/17/2011
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