Budget Narrative Form
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People also ask
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What is a budget narrative?
The budget narrative explains in a clear and concise manner the costs in each budget category, and which budget items will be covered by the grant and which ones will be covered by matching funds (e.g., cost-share or in-kind). -
What information will a budget narrative provide to the grant reviewers?
The budget narrative puts those numbers in context, telling the reader how they were calculated and how they relate to program implementation. The budget narrative, also called a budget justification, is a powerful tool for ensuring that reviewers understand the financial side of the program. -
What should a budget narrative include?
The budget narrative explains in a clear and concise manner the costs in each budget category, and which budget items will be covered by the grant and which ones will be covered by matching funds (e.g., cost-share or in-kind). -
What are the two purposes that the budget narrative serves?
The budget narrative serves two purposes: it explains how the costs were estimated, and it justifies the need for the cost. -
What is a budget narrative?
BUDGET NARRATIVE DEFINITION. A budget narrative explains or justifies the estimated costs by line item or category in the budget. Proper. budget narratives should explain how the costs associated with each line item or category relate to the. implementation of the project as outlined in the proposal being submitted. -
What are the benefits of budget narrative?
The purpose of the Budget Narrative is to supplement the brief information provided in the Budget Request. It should justify how the budget items are necessary to implement the project goals and objectives, and to accomplish the proposed outcomes. -
What is the difference between a budget and a budget narrative?
While the budget table gives the total cost for each category of the budget, the budget narrative gives the item by item breakdown for each category and shows the calculations used to derive the costs. -
What are fringe benefits budget narrative?
Fringe benefits include but are not limited to the cost of leave, employee insurance, pensions and unemployment benefit plans. The budget narrative should identify the applicant's fringe benefit rate. The applicant should not combine the fringe benefit costs with direct salaries and wages in the personnel category.
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