Budget Narrative – Grant Proposal Components

Budget Narrative

Grant proposals should include an in-depth outline of the budget to be incurred in carrying out the project including administrative and program costs. This information is important because it guides the funding source in developing their budget in respect to the proposed project. A good budget description should be presented in a columnar form such that expenses are listed on the left and the amounts in the right column. It is important not to present the budget information in a narrative form. Apart from the project cost, the budget narrative should include all operation costs including salaries/wages, maintenance costs insurances etc. This is a very important section of a grant proposal. Mistakes made at this point may result to serious consequences such as cost overruns or inadequate budgeting. Such may result to the stalling of the project and thus delays which is another expensive consequence to take care of. The budget developers must therefore consider all aspects of the project in terms of cost and expenditures that are likely to be incurred during the execution of a project. In this regard provision of a contingency sum to the effect of any uncertainties is equally important.

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