What is a grant budget template?
A grant budget template includes all the costs associated with carrying out the grant project or program. In order to determine how much you will spend, you must know what activities and services you will provide, when they will be provided, and by whom. A multi-year program will have a budget for each year of funding.
Who uses a grant budget template?
Grant budget templates are used by various individuals and organizations involved in the grant-seeking process, including:
- nonprofit organizations
- financial officers and accountants
- researchers and academics
- government agencies
- funding agencies and foundations
- project managers
Why use a grant budget template?
Using a grant budget template offers several advantages:
- Efficiency: Grant budget templates saves you time and effort in creating a budget from scratch by providing a framework that ensures you cover all the necessary components and calculations required for a comprehensive budget.
- Accuracy: Grant budget templates often include built-in formulas and calculations, reducing the chances of mathematical errors.
- Consistency: Using a standardized grant budget template helps maintain uniformity in budget presentation and facilitates comparisons across different funding opportunities.
- Clarity: Grant budget templates typically include sections for narrative justifications and explanations, enabling grant reviewers to understand the rationale behind your budget requests.
- Professionalism: Using a well-designed grant budget template demonstrates that you have carefully considered the financial aspects of your project and can present them in a structured manner.
Our grant budget template simply provides a starting point, we recommend you review and adapt the template accordingly to tailor the template to the specific needs and requirements of your project.
How to prepare a grant budget
Here’s how to do a grant budget in Excel:
Step 1: Download grant budget template.
Step 2: Review grant proposal guidelines for requirements.
Step 3: Enter anticipated expenses with unit cost and rate.
Step 4: Include narrative to align with budget.
Step 5: Set budget milestones.
Download this template for additional instructions.
What is the purpose of a grant budget?
The primary purpose of using a grant budget template is to facilitate the preparation, review, and management of grant budgets to increase the chances of securing funding and effectively utilizing resources.
What information does a grant budget template include?
A grant budget template typically includes the following information:
- Project summary
- Budget summary
- Labor expenses
- Programmatic activity expenses
- Travel and transportation expenses
- Cost of goods and materials
- Other direct costs
- Budget narrative
What is the budget narrative for a grant proposal?
A budget narrative provides a detailed explanation and justification for each budget category, including how the costs were calculated, any assumptions made, and how they directly support the project activities and objectives.