The amount of money you expect to spend in the coming fiscal year, broken down into the categories you expect to spend it in - salaries, office expenses, etc.
This section of your grant proposal package helps explain and, more importantly, justify the numbers in your proposed budget. Where are we going to get all that money? For budgeting purposes, it may be useful to separate program supplies and equipment from office supplies and equipment.
It can be hard to save money. Planning and gathering information to create a budget The preliminaries: How to Write a Budget Narrative for a Grant by Annie Sisk - Updated October 25, When you apply for a grant, you will usually be required to submit a proposed budget along with the rest of your proposal.
When you estimate expenses, guess high -- take your highest monthly phone bill and multiply by 12, for instance, rather than taking an average.
You also might need to buy something more expensive, like a car. Like a standard budget, this section should include precise line items for each expenditure required.
How specific and complex the actual budget document needs to be depends on how large the budget is, how many funders you have and what their requirements are, how many different programs or activities you're using the money for, etc.
Be sure to add in some money in a "miscellaneous" category, in order to be prepared for the unexpected.
Maybe you need to visit family in another country. Maybe something you do not need, or a way to spend less. While grant programs often require applicants to meet program-specific guidelines, most grant packages request that the proposal include a planned budget and an accompanying budget narrative.
Where each column and row meet this meeting place is called a cellthere should be a number representing the amount of money from that particular funding source the column that goes to that particular expense category the row. Remember, your reader will have many projects to review. Remember that even if you have no formal fringe benefits, you still have to pay part of the Social Security and Medicare taxes, as well as Workers' Compensation and Unemployment Insurance, for any regular employees people who work a fixed schedule.
Some practical considerations Planning and gathering information to create a budget Putting it all together: This means you must know the name and title of the person that supervises incoming budget requests for the funding company.
What gets funded from which sources? If you expect things to be like they were last year, do this: This should include any past experience with similar projects, previous budgets or spending plans, and the success gained from previous endeavors.
Learn how to create accurate, up-to-date budgets in order to maintain control over finances and show funders exactly how your money is being used. Actually figuring out what you should be spending your money on involves an organization-wide planning process.
How can I use my budget? Read more about opening a bank account. Use this Budget Worksheet to help you. If you sublet or rent space to others, record the estimate of what this will bring in Step 7: Include any recent trends that may impact the success or failure of the project. Otherwise, for the most part, each item should be covered in its own paragraph, under the appropriate category.
Program and office equipment.
List and estimate the amounts from any other sources that are expected to bring in some income in the coming fiscal year Step 9: Why should you prepare an annual budget? If you sell items, estimate what these sales will bring in This could include pins, T-shirts, books, blood pressure cuffs, etc.
For one month, write down everything you spend. Then you can put money into savings every month — maybe into a bank or credit union.
You can make savings one of your expenses. Local universities or government agencies may maintain offices that help small businesses and non-profits with financial planning. A simple spreadsheet for a small organization might look like this: What will you need to spend money on next fiscal year?SAMPLE - Budget Narrative – SAMPLE (NOTE: The Budget Narrative is the justification of ‘how’ and/or ‘why’ a line item helps to meet the program deliverables.).
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Start by categorizing each part of your narrative in line with the way the budget itself does. You may want to write a separate section for unusually expensive items, instead of grouping them into a. Before you write your budget line, answer, in writing, each of these questions.
Attach your budget lines to the bottom of this worksheet: WHY is this story worth writing? SAMPLE - Budget Narrative – SAMPLE (NOTE: The Budget Narrative is the justification of ‘how’ and/or ‘why’ a line item helps to meet the program deliverables.) A. Salary – Total: $54, Program Director currently oversees the program and will spend % of their time hiring, supervising and training staff.
Present your grant proposal budget in a way that will make an excellent impression on the grant reviewer. Consider the story you’re telling in the other parts of your proposal and .Download