7 June 2023
Your project budget explains exactly what the grant money will be used for. It details all funding that will contribute to the project (income) and all costs required for the project (expenditure).
Preparing your budget
- Start with a project plan.
- Clearly explain each item in separate lines. Provide specific details.
- Obtain and attach quotes (2 quotes for each item over $1000).
- List all forms of funding contributing towards your project.
- Don’t over or underestimate your projects costs.
- The income total and the expenditure total must be equal.
Sample budget 1
| Income: must include all sources of funding | Income amount ($) | Expenditure: must include all costs for the project | Expenditure amount ($) |
|---|---|---|---|
| North East Community Fund | $5000 (UF)* | Workshop facilitator $60/hour x 39 hours – includes consultations Project launch and evaluation sessions | $2340 |
| In-kind (organisational contribution) | $1800 (CF)* | Venue hire Community Centre – 2 sessions at $50/hour x 5 hours (quote attached) | $500 |
| Bendigo Bank | $1000 (CF) | Project materials Design and printing of flyer and workshop manuals (quote attached) | $1680 |
Promotion and marketing Social media/community radio | $780 | ||
Catering Stakeholder consultations and activity launch – | $700 | ||
In-kind 2 volunteers – admin and sessions support (30 hours at $30/hour in-kind) | $1800 | ||
| Total income (A) | $7800 | Total expenditure (B) | $7800 |
Note
Income (A) and Expenditure (B) must balance.
* (CF) = Confirmed Funding; (UF) = Unconfirmed funding
Sample budget 2
| Income: must include all sources of funding | Income amount ($) | Expenditure: must include all costs for the project | Expenditure amount ($) |
|---|---|---|---|
| North East Community Fund | $3927 | Promotion Flyers A4 design and printing x 300 | $300 |
| In-kind support | $480 | Advertising Local newspaper ad x 2 (1/4 page) | $500 |
Venue hire Community Centre | $750 | ||
Workshop facilitator 15 hours at $75/hour (quote attached) | $1125 | ||
Art supplies Including paint, brushes and paper for 30 participants | $447 | ||
Workbook for participants | $265 | ||
Catering Tea/coffee, biscuits (30 participants x 5 sessions) | $100 | ||
Evaluation of program Survey and analysis | $440 | ||
1 Volunteer Admin and sessions support | $480 | ||
| Total income (A) | $4407 | Total expenditure (B) | $ 4407 |
Note
Income (A) and Expenditure (B) must balance.
* (CF) = Confirmed Funding; (UF) = Unconfirmed funding