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VIRGINIA COMMONWEALTH UNIVERSITY. COMMITTED COST SHARING AUTHORIZATION. If this is MANDATORY cost sharing, check here: And provide ...
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How to fill out committed cost sharing
How to fill out committed cost sharing?
01
Start by reviewing the requirements of the funding agency or organization that requires committed cost sharing. This will give you a clear understanding of what is expected from you and what expenses can be considered as cost sharing.
02
Identify the specific costs that can be counted towards committed cost sharing. These costs can include personnel salaries, materials and supplies, equipment, or other allowable expenses as determined by the funding agency.
03
Calculate the value of the committed cost sharing. This typically requires determining the percentage or dollar amount of the total project costs that must be provided as cost sharing. For example, if the funding agency requires a 25% cost sharing contribution, calculate 25% of the total project budget.
04
Determine the source of the committed cost sharing. This can involve identifying funding sources within your organization or seeking external sources of funding such as grants or donations. It is important to ensure that the selected funding sources are allowable under the guidelines of the funding agency.
05
Document the committed cost sharing in the appropriate sections of the funding application or proposal. Provide a detailed breakdown of the costs included in the committed cost sharing and clearly demonstrate how the required percentage or dollar amount is being met.
Who needs committed cost sharing?
01
Researchers or organizations applying for grants or funding from certain funding agencies or organizations may be required to provide committed cost sharing. This requirement is often outlined in the funding guidelines or terms and conditions.
02
Committed cost sharing is typically necessary when the funding agency or organization wants to ensure that the project has strong support and commitment from the applicant. It demonstrates a willingness to invest additional resources in the project and can strengthen the overall competitiveness of the funding application.
03
Committed cost sharing may also be required when the funding agency believes that the project's impact or outcomes can be enhanced through additional financial commitment from the applicant or other partners. It shows a shared responsibility for the success of the project and can demonstrate a higher level of dedication to achieving project goals.
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What is committed cost sharing?
Committed cost sharing is the portion of project costs that is agreed to be contributed by a funding source other than the primary sponsor.
Who is required to file committed cost sharing?
The organization receiving the funding is required to file committed cost sharing.
How to fill out committed cost sharing?
Committed cost sharing is usually filled out by detailing the specific amounts and sources of non-sponsored project funding.
What is the purpose of committed cost sharing?
The purpose of committed cost sharing is to demonstrate additional support for a project beyond the primary funding source.
What information must be reported on committed cost sharing?
Committed cost sharing typically requires reporting the source, amount, and description of the contributed funds.
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