How to Make a Grant Budget Template
One of, if not the most important of a grant request is the grant budget. Do you want to know how to make a grant budget template? We can help you with that. Here, we will explain to you the importance of making a proper grant budget as well as how to make it.
The Importance of a Proper Grant Budget
Why is a proper grant budget so important? It is so important because it shows a glimpse of how a project or program will go and how much will it cost. The funder will put the grant budget into consideration and decide whether or not the project or program is worth funding.
How to Make the Budget Template for Grant
The next question is, how do you make a proper grant budget template? The seven steps below will help you make one.
1. Choosing a Tool
Does the funder demand a specific tool or a template to work with? If they don’t, Excel is a good choice to make it.
2. Include Revenues and Expenses
After the tool is chosen, the next thing to do is to write down all of the revenues and expenses. That is, where the money comes from and how will it be used. Usually, funders prefer a project or program that secured other sources of revenues than the grant itself.
Categorizing here means that you should categorize the expenses involved. The budget should be able to illustrate what it takes to make the project or program successful.
4. Make It Clear
Readers of the budget should be able to read the budget and determine what it proposes.
5. Use Realistic Numbers
This is very important. Make the expenses as realistic as possible. If it is possible, use real numbers as much as you can.
6. Ensure the Numbers Do Add Up
Of course, the numbers in the budget should add up. Check the numbers before presenting them to funders. Make sure they add up.
7. Show the Costs that the Funders Are Covering
It is never a bad idea to show the funders what costs they are covering with the grant. You can do this simply by adding another column beside the expenses and write down the grant allocation.
A proper template will help your funder to understand what the project or program is all about and how much will it cost. If you don’t know how to make a proper grant budget template, the above steps should help you. Just like any templates, the template should be clear and concise. Make it as detailed and realistic as possible.