Planning Your Proposal Budget
You were shocked to receive the news: your grant application has been disapproved. You cannot immediately believe it because you hired the best grant writer in town and you have designed the best program for your community. Experts who reviewed your project narrative said you have a project worthy of grant funding. You asked yourself: What seems to be the problem?
There are so many reasons behind the disapproval of grant applications. Budget is one. In fact, it is one of the essential parts of a grant proposal and it is one that is being comprehensively reviewed by grant critics. What may be wrong for you is that you might have insisted with your writer not to change anything on your budget. You may not have them reviewed your budget plan.
When planning your budget, you have to practice accuracy, or else the foundation or funding agency reviewers may not appreciate what you have written. Below are some of the guidelines to make sure you are writing a near-perfect, if not perfect, budget plan:
1. If you have a specific funder, read its budget guidelines carefully. Know if it asks for a line item budget or a category budget or both. Follow the funding limitations and budget timeline. By doing so, you are sure of how to begin your budget planning by scouting for the prices of your budget items.
2. Scouting for prices of budget items is highly recommended. This will make you feel more confident of your project. Moreover, this will allow you to become accurate with your budget request.
3. But, before you scout for prices, you need to determine first what you will need or where will you allocate your funding request. Make a list of the positions you will need to fill in with people. Identify the office supplies and the equipment that you will require. By knowing your project activities, you will be able to determine also the expenses that you need to have funds for. Right beside the items that are listed, place the researched estimates.
4. Explain also why it is necessary for you to purchase or allocate funds for these items. Funders read the budget justification carefully. They need you to present a cost-benefit ratio. Without this, they will think that you will not be able to use their dollars to provide maximum benefits.
5. On your budget narrative, discuss where your other funds will be coming from. Highlight also if you think that you have actually saved some dollars because of your project design. Mention about the in-kind contributions that are received by your organization.
6. When writing the amount, indicate whole numbers, no cents, please.
7. Do not try to include the term ‘miscellaneous’. It only puts doubt in the mind of the reviewers.
8. If a budget form is required, fill out this form according to the instructions.
Grant reviewers will know, basing on your budget plan, if you are making an overpricing. They have been doing this job for so many years. Do not underestimate their capacity to smell ‘greediness’. So please, do not attempt to make some hocus focus on your budget plan. Make sure that you are requesting for the exact amount you will need.
