A grant is an amount of money, either as a gift, contribution or subsidy, that is given by the government or an agency to an individual or organization to address a problem or need in the community. The recipient can then use grants to accomplish their stated purposes and objectives within their own policies and guidelines.
However, before a grant is granted, a written request is submitted to the granting entity, such as the government, as an application for such funding. Once you have drafted all the details of your proposal, it becomes a foundation for your budget request and this where a grant budget comes in. We have compiled several budget templates on this page for reference and use.
Grant Budget Template
Grant Budget Proposal Template
Small Grant Budget Template
Grant Proposal Budget Template
Blank Grant Budget Template
Grant Application Detailed Budget Template
Grant Project Budget Template
Common Budget Line Items
These are some common line items that should be included in a Budget Proposal Template.
This is perhaps the most important part of your grant budget because these are the funds you are asking from your source. They usually include the following:
- Personnel. Most projects require workers to execute it and a grant budget should cover the cost of their wages. Make sure to indicate whether a salary is an annual one or an hourly rate.
- Equipment. Equipment costs should be well defined and should include specifications. To help grantors understand its costs, you should give a documentation of the project need for the equipment.
- Supplies. Supplies are essential to run any project so you should explain how these supplies help in running the program. They should be defined and broken down into categories for better understanding.
Otherwise known as overhead costs, indirect costs are defined as the costs for administration and facilities. Indirect costs may or may not be provided by your funding agency but they are often allocated as a fixed percentage of your direct costs.
Check out our Excel Budget templates if you want to include tables on our budget proposal.
Basic Grant Budget Template
Training Grant Budget Template
Research Grant Budget Template
Collaboration Grant Budget Template
Tips to Consider When Making Your Budget
Grant budgets are usually the last decision factor in granting a proposal, so you have to make sure that there are no surprises in the budget.
- Cost estimates should be credible and realistic. Verify that the numbers in the proposal narrative and budget justification match those in the line item budget. Inflated budgets will damage your credibility.
- The program narrative should match the budget. Some grantors look at the budget before reading the proposal, so your budget should not exceed the maximum amount stated in the request for proposal.
- Include a room of adjustment. If your project takes a number of years, you might be required to submit budget projections every year. Include the cost of raises in staff salaries and inflation of supplies.
Just like a Financial Budget, take note that it is always better to discover hidden costs before you submit your grant proposal than after you are working with a set budget that would need you to reduce the number of activities or exclude some altogether.