BUDGET PLANNING Spring 2012. Why does EPICS require a team budget?
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- Slide 1
- BUDGET PLANNING Spring 2012
- Slide 2
- Why does EPICS require a team budget?
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- Ensures that the EPICS program will have enough money to cover
your teams expenses.
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- Helps your team plan and set goals for the for the academic
year.
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- Your budget expenses should align with your project What are
you building? A database? A soapbox derby car?
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- Databases, although time consuming do not require a lot of
material expenses. Some projects however can be very costly such as
the Mars Rover project.
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- The EPICS staff will take the project scope into consideration
when evaluating your budget submission.
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- Setting a budget is part of any design teams responsibility in
the real world. It is part of your EPICS learning experience.
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- How do I get started?
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- All teams have been given $200 in their account. If your team
will not be spending over $200 you will not need a budget. If you
go over $200 you will not be allowed to purchase until a new budget
has been filed and approved.
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- The $200 needs to be included in your budget form, and you need
to take it into account when you are thinking about how much youll
need.
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- Guidelines for budgeting can be found on the EPICS website
herehere Budget sheets can be found herehere
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- (KES) BUDGET FORM Total Predicted Expenses Over All Projects
(Fall 2009/Spring 2010)$605.61 Total Actual Expenses Over All
Projects (Fall 2009) $550.51 Predicted Funds from Other Resources
(Fall 2009) $0.00 Project 1: (USA State Project)$370.51$345.51$0.00
Project 2: IN History$215.10$205.00$0.00 Project 3: (Continuation
of USA)$20.00$0.00 Project 4: (Project Name)$0.00 Project 5:
(Project Name)$0.00 Instructions for this form At the beginning of
the fall semester, fill out the predicted expenditures for both the
fall and spring semesters. For each project, use the full project
name, not an acronym. This makes the purpose of your expenditures
much clearer. When you print this form, please print it in the
landscape layout, as it is given to you. Having all the budgets
with the same layout makes them much more manageable. Each month,
you will receive an update of what your team has spent. This may
differ from the actual price of your product because of costs like
shipping. Please enter the total cost you received under "actual
expenditures" when you receive this form. Thanks for your help!
Following these instructions carefully really helps Pam and others
who have to work with these forms. If you have any questions, you
can ask your advisors, TA, or Pam. They would all be glad to help
you. Project 1: (USA State Project) Description & Justification
Fall 2009 Predicted Expenses Fall 2009 Actual Expenses Spring 2010
Predicted Expenses Total Predicted Expenses Total Actual Expenses
Funds from Other Resources 1.1Super Bright LED181.7 0$181.70 $0.00
1.2Toggle switch (on-off-on : SPDT)66 0$66.00 $0.00 1.3Prototype
Board11.8 $11.80 $0.00 1.4Extruded Polystrene (styrofoam)7.27 $7.27
$0.00 1.5Acryl Sheet19.99 $19.99 $0.00 1.6Electrical tapes, Liquid
electrical tape11.35 $11.35 $0.00 1.7Jumbo 7 segment display38
$38.00 $0.00 1.8100 ohm resistors, Push buttons9.4 $9.40 $0.00
1.9Large & Small Prototype Boards 25$25.00$0.00 1.10Bundles of
wires $0.00 TOTAL $370.51$345.51$0.00 SAMPLE BUDGET
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- Average team expenditures is $600 per year. There is no penalty
or profit to spending more or less than average Can spend more if
EPICS approves Consider shipping costs - estimate
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- Once your budget is finished: Post on Sharepoint Print and
obtain advisor approval Submit to Pam Brown (ARMS 1207) Wait for
approval
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- Minor purchases allowed until your budget is approved Allow 2
weeks for budget to be approved Will receive an email when your
budget is approved If you have not received an email in 2 weeks
please check with Pam Brown (pamb@purdue.edu)
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- Familiarize yourself and your team with the Purchase Request
Form Located herehere A sample of the Purchase Request Form
follows:
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- Fill out the form, get your advisors signature and take the
form to ARMS 1200. If you are purchasing from a web site, please
print out the product page from the web site and attach with the
order form.
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- Please make sure the web site allows for credit card purchases.
We cannot make Pay Pal purchases and this could slow your
order.
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- Purchasing Guidelines can be found herehere
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- EPICS Reports for the Financial Officer You will receive a
monthly report, on Sharepoint, showing expenditures and an
accounting of what is left in your budget. Please make sure MYEPICS
shows your role of financial officer!
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- You can request a report at any time with up-to-date purchases.
Please share this information with your team.
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- If your team is exceeding your proposed budget please submit an
amended budget as soon as possible.
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- Engagement Grants Information about grants will come in weekly
emails. If you get an approved grant, this money will be on its own
account. You will get a separate grant report with your monthly
team report on Sharepoint.
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- Engagement Grants When you go to fill out a Purchase request
form using your grant money, be sure to circle Yes when asked Is
this purchase related to grant funds?
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- Engagement Grants Treat the grants like your team account. You
will need to watch the available money. If you go over your allowed
amount, the difference will come out of your team account.
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- Engagement Grants Try to use all of the money you received for
the grant or it will be given back to your sponsor after the
duration for it is up.
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- Any questions? Contact Pam Brown ARMS 1207 pamb@purdue.edu OR
Maddie Ramsey ramsey11@purdue.edu