Topic 2 Budget Preparation

Understanding of the sponsor/ funding sources requirements

  • Overhead cost
  • Time period covered by the grant
  • Specific information (example: if the money is intended for a cultural event, the sponsor/ funding source needs to know details like the specific date and precise location etc.)

Collaboration

  • Thorough examination of information on the division of responsibilities in the context of the implementation of the funding proposal.

Alignment of your budget with your proposal narration

In addition to the budget, most sponsors/ funding sources want a grant proposal narrative explaining the goals of the funding program and the task execution.

Tip: Improve your chances of getting approved! Make sure your grant budget is consistent with your grant narration. For instance, if the funding proposal is about is a year-long program, your narrative should clearly state that the program will run for one year, and your budget should reflect the expenses for this time period.