Finance Review and Approval for Research and Other Proposals

A pre-award finance check for research proposals is a crucial step in the process of securing funding, as it ensures that the financial aspects of the proposal are well-planned, accurate, and compliant with both institutional and funder requirements.

Proposal submistted to external funding agencies, over certain thresholds, must be reviewed and approved in advance by Finance Office. Please refer to the procedure document for further information.

Budget Breakdown

• Personnel Costs: List all personnel involved in the project, including roles, hourly rates, and time commitment. This can include staff, consultants, buyouts or external contractors.
• Equipment and Supplies: Provide a list of equipment, materials, and supplies needed for the project, including cost estimates.
• Travel and Conferences: If the project involves travel, include travel costs like flights, accommodation, per diem, and transportation.
• Indirect Costs (Overhead): Funders may allow indirect costs or overhead (e.g., administrative costs, utilities, etc.), often as a percentage of direct costs.
• Other Costs: Include any other relevant costs, such as hospitality, marketing.

• Partners: Provide details of any partner payments.
• Assumptions: Explain any assumptions made in calculating costs, such as exchange rates for international travel or estimated costs based on previous similar projects, VAT.
• Cost Sharing or Matching Funds: If applicable, specify any matching funds, in-kind contributions, or partnerships that will help cover project costs. Highlight how these contributions will support the project.

All queries on budget review and approval process for proposals, please contact Janani.hegarty@mtu.ie

Useful Links

Procedure for Financial Review of Research and Other Contracts

Form P07 - New Cost Centre (Project) Request