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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.
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:
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.
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.
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.