BUDGET PLANNING

Spring 2012
Why does EPICS
require a team
budget?
 Ensures that the EPICS
program will have enough
money to cover your teams
expenses.
Helps your team plan and
set goals for the for the
academic year.
Your budget expenses
should align with your
project

What are you building?

A database?
A soapbox derby car?
 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.
The EPICS staff will take the
project scope into
consideration when
evaluating your budget
submission.
Setting a budget is part of
any design teams
responsibility in the real
world. It is part of your
EPICS learning experience.
How do I get started?
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.
 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.
Guidelines for budgeting
can be found on the
EPICS website here

Budget sheets can be

found here
 (KES) BUDGET FORM
SAMPLE
BUDGET
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 $0.00

Project 4: (Project Name) $0.00 $0.00 $0.00

Project 5: (Project Name) $0.00 $0.00 $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.
 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
 Once your budget is finished:
Post on Sharepoint
Print and obtain advisor approval
Submit to Pam Brown (ARMS 1207)
Wait for approval
 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)
 Familiarize yourself and your
team with the Purchase
Request Form Located here

A sample of the Purchase

Request Form follows:
 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.
 Please make sure the
web site allows for
credit card purchases.
We cannot make Pay
Pal purchases and this
could slow your order.
Purchasing Guidelines
can be found here
 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!
 You can request a report at any
time with up-to-date purchases.
Please share this information
with your team.
If your team is exceeding your
proposed budget please
submit an amended budget as
soon as possible.
 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.
 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?
 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.
 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.
 Any questions?

Contact Pam Brown

ARMS 1207
pamb@purdue.edu
OR
Maddie Ramsey
ramsey11@purdue.edu