Grant is amount of money as a gift, subsidy, or contribution given by an agency or the government to an organization or individual to address a need or problem in the community. The recipient can use a grant budget template to accomplish his or her stated objectives in his other own policies.
How to Write a Grant Budget Template
Before the grant is granted, you need to submit a written request to the granting entity. In this article, we have a budget template printable for a grant. Here, we will also give guidelines how to create the right template. So, you should pay attention to the following reference.
To start the template, you have to make a title. It depends on the project. For example, you can simply write Travel Grant Project Budget, Education & Training Grant Budget, Graduate Student Research Grant Budget, Grant Budget for Main Street Building Remodel, etc.
After that, you need to provide some items. Basically, the items are divided into 2 categories. The first is Direct Costs. It is the most important part because these become the funds you ask from your source. Direct costs include at least 3 things. They are Personnel, Equipment, and Supplies.
Personnel cost is mostly required for workers. It covers the cost of their salaries. Equipment cost must be well defined and include specifications related to the project needs. Supplies aims to run a project. So, you must explain the supplies clearly. You can break it down into some categories.
Besides Direct Costs, there is also Indirect Costs. Indirect costs can also be called as overhead costs. These costs related to administration & facilities. These may be provided by your funding agency or not. However, these are usually allocated as a fixed percentage of the direct costs.
Tips to Make a Grant Budget Template
After you see the sample budget printable above, you can practice to make a grant budget by your own. However, there are some tips that you have to consider. As we know, grant budget usually becomes the last decision factor to grant a proposal. So, make sure there’s no surprise in the budget.
Here, you have to make the cost estimation as credible & realistic as possible. You need to verify the numbers & budget. In fact, inflated budget will damage your credibility. The more realistic your grant budget is, the more credible it is. Therefore, it is very important to estimate everything rightly.
Besides, the program narrative must match the budgets. Sometimes, grantors look at the budgets before they read the proposal. Therefore, your budgets must not exceed the maximum amount that is stated for the request in the proposal. Here, you must have to be as careful as possible.
Last, a grant budget template should include a room of adjustment. Sometimes, your project takes a few years. So, you are required to submit a budget projection every year. In this case, you need to include the costs of raises in the staff wages & inflations of supplies.
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