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EPICS

Budget Guidelines

To insure that there are adequate and equitable resources for all the EPICS teams, each EPICS team is required to submit a budget to be approved by the EPICS administration.  These budgets allow EPICS to manage to resources available to EPICS teams and insure there are resources available for projects over the entire year. 

Fall Semester

Each team submits a new budget for the entire academic year (spring and fall semesters) as part of the semester planning process following the procedure detailed below.  If your team does not plan on spending more than $200 you will not be required to submit a budget however you will not be allowed to spend beyond $200 unless you have an approved budget on file.

Spring Semester

Each team reviews their approved budget as part of the semester planning process to determine if modifications need to be made to the approved budget. If there are no changes, the team updates the form with purchases to date and submits the budget indicating "No Change." If changes are needed to meet the semester goals, the team must submit a modified budget editing the current Team Budget Form on the Share Point Server and resubmitting it using the procedure detailed below.

Team Expenditure Reports

Each team will receive a monthly report of the expenses they've incurred. The budget form should be updated to reflect the portion of the budgeted amount that has been utilized.

Budget Request Process

  • Budget estimates must be turned in with the semester plan for returning teams or with the proposal for new teams. The estimates must be completed using the Team Budget Form. Please follow the guidelines included on the form, which makes the forms easier to handle.
    • In the fall semester, the estimates should include both fall and spring
    • In the spring semester, the budget should note expenses from the fall, and include budget estimates only for the spring
  • The completed budget should be uploaded to the share-point server. It can be checked out and in to make changes. Whenever an update is completed, the budget should be checked back in to maintain an electronic copy (and printed for signature by your advisor.) The signed document should be given to the EPICS Program Coordinator (Pam Brown).
  • The EPICS office will maintain the signed Team Budget Form 
  • The EPICS administrative team will review each team's budget request and return the request to the team within two week with either an approval or modifications.
  • Once a budget has been approved, teams may purchase items related to the budget using the purchasing guidelines.
    • Teams may not purchase items until a semester budget has been approved.

Budget Modifications

Budget modifications must be made if the team will exceed the approved budget for the academic year. Internal changes within projects that keep the project within the approved budget limits can be managed by the team and do not require approval from EPICS administration.

If modifications to the approved budget are needed at any time during the academic year, the team must submit a modified budget by editing the current Team Budget Form on the Share Point Server and resubmitting it using the budget request procedure. The approval process may take up to two weeks, so significant changes in requested funding need to be identified early in the semester.

Guidelines and Tips for Preparing Budgets for Approval

  • An average EPICS team spends about $600 on supplies each year. All budgets require justification for items requested, but teams which are requesting more than the average need clear justification why the additional funding is required for the project(s).
    • Teams are not required to spend the average. There is no penalty or benefit to teams that spend more or less in any given year.
    • Budget requests for sponsored teams and non-sponsored teams will be reviewed using the same criteria.
    • Income from outside of EPICS (e.g. proposals written by a team) will not be counted against the EPICS budget but should be included in the team's budget estimates with notes what the extra income is and where it came from.
  • Individual items over $500 require a detailed justification, which must include a technical rationale of why these items are critical to the project and cannot be produced by the team as well as alternatives to these items (include copies of quotes for alternatives with your justification).
  • If machining or other labor is requested, an explanation should be made why this is cannot be done by member of the team.
  • Include shipping costs in the budget estimates. Shipping charges are counted against the team's expenses.
  • Estimates should provide an appropriate representation of planned expenses, but do not have to be made in excruciating detail.
    • (e.g. knowing the exact number of screws in a project is not needed but including funds for things like screws is needed. Small items can be lumped together into a common category)
    • Use your advisors as a resource for preparing a budget.
    • If possible, use previous experience to estimate future expenses.
  • Budgets are evaluated in the order the requests are turned into the Program Coordinator's office and may take up to two weeks for approval.