BUDGET DEVELOPMENT-DEVELOP AN ACCURATE BUDGET Developing a project or program budget can be challenging. A detailed budget should include ALL associated costs. Avoid rounding numbers unless guidelines state differently. Grantors demand transparency and accuracy in a program or project budget.
An easy way to begin developing a budget is to create an outline of the TOTAL project or program costs. Include costs for personnel (wages/benefits), evaluation, operating, professional fees that may be incurred, capital development, purchases, supplies, In-Kind donations, secured and unsecured donations/requests, additional grant funding and funding sources, organization contributing funds, total cost of project and/or program and the amount requested. This outline will serve as a great resource when completing applications.
The cost of the project or program should NOT be the total amount of funding requested! Grantors want to help support a project or program, not be the sole support of it.
Some grant applications may have a specific budget form to complete or the organization may need to create a form. (This information will also be included in the Grant Guidelines)
A Project or Program Budget and an Organization Budget are not the same thing. Your program/project budget covers the budget costs to implement that program/project; whereas, your organization operating budget is the TOTAL current fiscal year budget to run the organization.
Grantors will often request a copy of the organization budget to discern whether the organization's fiscal stability, number of programs, staffing and stewardship can effectively implement the proposed program/project.
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