Itemize a list of ALL project expenses in the Budget table. The proposed project's expenses should provide at least as much detail as the sample below. Project Expenses must occur during the project period, July 1, 2018- June 30, 2019.
- Budget should be consistent with the project described in the project narrative
- Review figures for accuracy
- Round figures to the nearest whole number; $500.00, instead of $499.50 for example
TIPS ON PREPARING YOUR BUDGET
Although artists aren't generally thought of as being "numbers people," a complete budget is essential in showing the selection panel that you are capable of completing the proposed project successfully. So here's what you'll want to put in your budget.
Include materials and supplies, equipment rental or purchase, space rental, and promotion and marketing fees. Also be sure to list any other expenses related to your proposed project. These may include artist fees—for example, dancers, other musicians, scene designers, and so on. And they can also encompass non-artist professional fees—for photographers, consultants, sound technicians, and so forth. Take time to research the fair value of each of these expenses by getting quotes from several different sources.
Your budget should also include additional sources of income for your proposed project, including other grants, in-kind services, product sales, and donations. Just as with the nonprofit budget, you can list both projected as well as secure income sources. And of course, list the amount you are requesting.
- Provide detail
As a general rule, more detail is better. Which of the following gives you more confidence that the artist has thought through the project expenses?
Mileage (200 mi. @ .485) 97
Lodging (4 nights @ $85) 340
Meals (5 days @ $35) 175
Admittedly, we like you to round amounts up or down so that the budgets are easier to take in quickly, but if you can show that you're not just picking numbers out of thin air, you will make a stronger case for yourself.
- Provide Other (supporting) Documentation
Most of us have a general idea of what a hotel room should (and shouldn't) cost, but fewer know what a new lathe or band saw runs. CD production costs and graphic design fees can vary widely. So, it's not a bad idea to get an estimate from the provider to support the numbers you're putting in your application. For most equipment, airfares, and materials costs you can go on the Internet and get a price; for professional services you may need to request an estimate. Always provide documentation for class, workshop, or conference registration costs and it doesn't hurt to attach a description either. These proofs can go a long way toward quelling a panelist's momentary doubts as they're reading your proposal.
Show your own financial contribution to the project and other sources of income. Expense of your own money is not required; nevertheless, if you can show you are investing your own funds (over and above your time) to accomplish a project, your commitment to it will be obvious. If you are pursuing or have secured donations from others, especially for more ambitious projects, say so. Just leave enough room on the expected income side of your budget to make it clear that you do need the grant.