Week 7.3 Paper

 Attached Files:

•  Budget rubric.pdf (168.282 KB)
•  ANNUAL FINANCIAL PLAN.pdf (179.021 KB)

Assignment 7.3

The budget is one of the most important sections of a proposal.  Once an idea is identified, many grant writers immediately begin to develop the budget.  You can identify an amount for a reasonable request by reviewing past awards.  The budget is actually a condensed plan.  Any and all activities with a cost that you describe in the narrative (and only those activities) must be included in the budget. 

For this proposal, the budget should include relevant categories for direct costs.  These will include Personnel, Fringe, and any other relevant categories.  Fringe benefits include all employer contributions to health plans, insurance plans, retirement plans, social security, workers comp, and taxes.  This is expressed as a percentage, varying widely, based on the organization, but is often 10%-25%. 

The budget needs to include an indirect cost rate of 10%.  Indirect costs are those not directly related to the project, and often include accounting, human resources, space, etc.  

Each budget requires a Budget Justification section.  This will explain, line item by line item, the details of each of the costs Submit the budget and the budget justification.  The budget is best presented in a table format.  Be sure the numbers add up and make sense.

**  Use the template provided**