How do you demonstrate your budget efficiency and effectiveness in your grant application?

First, I would conduct a cost-benefit analysis plan then itemize the budget tailored to community needs vs wants. Make sure to focus on leveraging resources to achieve desired outcomes. Grantees should create a budget that accounts for every cent that you can align to clear objectives in each spending category. Grantees must ensure that all costs associated with the grant are essential, and that the grant is truly benefiting the workforce development community program and the people it serves. Finally, grantees should strive to leverage all resources available, such as researching existing infrastructure partnerships, and volunteer programs, to ensure the grant is as efficient and effective as possible.

One of the most effective ways to convey what to some, can be confusing and boring though critically important information is through infographics. Visuals tell a story and that is what we are attempting to get across in a budget summary. We want to know new streams, gaps, strains, losses, areas of challenge, innovations, and transparent truth of the budget. A person should walk away with clear information, a tone, and feeling about the budgetary situation. Story is the best way to get all lof this across.

By beginning the grant writing process with a scope of work (SOW), the budget will be thorough. The SOW helps to identify realistic costs for each task needed to accomplish the goals of the funded project. Being familiar with your agency’s budget and actual costs of doing business will help expedite the process. Getting quotes for new purchases and services (compliant with CFR guidelines for government grants) ensures there are no surprises when the grant is awarded. The SOW helps in writing the budget summary, to accurately define the costs to achieve the grant’s objectives.

Absolutely. In addition to raising questions about credibility and capacity, underestimating expenses risks not enough funding to do the work and deliberately overestimating expenses is unethical.

At times you may need to make a reasonable guess about an anticipated future expense. Indicate that it is a best guess, and note what information you used to make your assumptions. Later, when you are reporting your actual expenses after being awarded the grant, you will be well-positioned to explain any discrepancies.

When it comes to federal and state grants, the mantra for budgets is be reasoned and reasonable. There is a requirement for all federal agencies and most state agencies as well that the total grant amount needs to be allocated among line items in a budget. It is also mandated that each line item be justified both as necessary to support the grant outcome and defensible as a independently verifiable accurate cost. Be aware that increased attention by federal agency grant reviews are given to line items funding salaries and contractors with special attention to being sure that these line items are required for the project rather than being planned for general use by the applicant.

If you receive funding from multiple sources, be very careful not to include the same expenses in multiple grant budgets. If you need to include an expense in order to provide a complete picture of a particular project or program, indicate which expenses are being offset by income from another grant or funder. Do not seek to get the same expense covered by more than one funding source.

When it comes to federal and state grant applications, one of the most important elements is to be absolutely certain that the budget is clearly and directly connected to the proposed grant project and activity. As important, the line item breakdown of the budget which is a foremost requirement must demonstrate that it is reasonable and logical directly connected to the actions proposed to be taken in the application. Be mindful that for federal and state grant applications line items to support creating new staff or heavily relying on consultants will be even more deeply scrutinized by grant reviewers to be sure such costs are justified and necessary to carry out the project or activity.

Short lines connecting the dots is what is expected and needed when it comes to federal grants. Use of flowery or creative language is considered a red flag of doubt by federal grant reviewers. The most effective method to employ when defending the total budget and each line that comprises the budget is to use a timeline with status performance benchmarks. This can be used as a visual to readily connect the need for each expenditure in support of specific activities to accomplish the ultimate outcomes. It is also important to be sure to demonstrate that the planned expenditures that total the grant request will take place consistent when needed to accomplish tasks identified for the project.

Think "Will my board be able to grasp this" as a test before making the final budget presentation. While Grantmakers make be more sophisticated and nuanced in their understanding they are not looking for proposals that require a lot of explanation. The clearer and more accurate your presentation is, the more compelling it will sound.

It's always helpful, and usually required, to include CVs/resumes of key staff or job descriptions for positions to-be-hired. Ensure these attachments are aligned with the budget. For example, a more seasoned consultant will qualify for a higher rate; however, if the consultant job description only requires 1-2 years of experience, that will not be congruent with the cost allocation.