Budget Preparation

As you prepare the project narrrative, begin to evaluate your budget requirements. Prepare a comprehensive budget and take into account all project costs of the project. Remember to check the budget against the narrative to ensure consistency between the two. Also check the budget against sponsor guidelines. Be realistic; significantly over-or underestimating your financial needs may lead reviewers to think that you do not fully understand the scope of the project. Include justification for each service or expense as follows:

  • Describe the service or expense and how it relates to and benefits the project.
  • State the anticipated cost and, if appropriate, how the cost was determined.
  • Identify the time-period in which the service or expense will be required
  • Provide any other information that will help the sponsor evaluate the need for the listed service or expense.

As you develop your budget, list all anticipated services and expenses, including those for which you are not requesting funding. Explaining how you plan to cover these costs will show reviewers that you understand the full scope of the project and associated resource requirements.

You may also refer to the Forms page to download budget templates and other relevant documents.

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