Preparing a modular budget in MyFunding requires consideration of elements to ensure that the modular budget is structured and presented in the grant application properly.
1. Is a detailed budget required for a modular budget submission?
No, when a modular budget is proposed, a detailed budget is not required. However, a detailed budget can be completed for a modular submission, if desired.
2. How does the MyFunding module handle budget years that are over the modular amount?
For budget years that are over the modular amount, the MyFunding module will NOT roll-down to the modular amount in the SF-424 but rather will map the dollar amount reflected in the detailed budget into the SF-424. Therefore, in such instances where a detailed budget has been completed, the module amounts will need to be entered directly into the SF-424 to prevent the budget from being incorrectly presented within the proposal application.
3. Does the MyFunding module create modular budgets with the subaccount budgets included?
No, the MyFunding module does not have the capability to create modular budgets from multiple budgets.
When a modular budget is being submitted for the overall proposal, the subaccount budget feature should be used only as a routing tool to obtain approval for the subaccount. To exclude the subaccount budget from being included in the cumulative funding proposal budget, indicate ‘No’ for Question 9 on the “General Budget Information Page”.
It is also important to note that the subaccount budget will round up to the nearest module and cannot be changed (see example below).
The example below shows a subaccount budget for $13,824. A modular offset is added to the subaccount budget resulting in a subaccount budget of $50,000. Nonetheless, the cost categories show the actual subaccount costs which represent the costs the departments are approving.
To provide the subaccount department with the actual total costs, the actual cost amounts can be listed in “General Costs Other Notes “box on the “General Costs Budget Grid” (as seen below):