Leafcutter Business Support paid for our developing Funding & Grant Applications expert, Rebecca Waterhouse, to partake in the above webinar. With having sourced over $1.4m to date, Leafcutter offers services in the funding and grants space for not-for-profit organisations nationwide across all sectors. Our team thrive on professional development but also felt that this webinar was essential to ensure we continue to deliver outstanding service and provide best practice recommendations.
We are excited to share the following webinar outcomes with you.
What to include in your budget
An understanding of how to put together a strong project budget, what can and should be included, and what should not
Information on how to calculate in-kind support
Understanding of how to package salaries into project budgets
Knowledge of frequently made mistakes in grant budgets and how to avoid them
A list of key budget checks to make before submitting
Rebecca noted the following:
Firstly, review the specific guidelines in regards to the creation and display of the budget required by the funder. Adhere to these guidelines and use any templates provided.
Secondly, check the eligibility of the expenses you are requesting.
Thirdly, ensure the budget looks professional.
Lastly, get someone to review your completed budget for you and keep copies.
What the funders are looking for:
👌 Consistency
The budget must tell the same story as your written responses – the money needs to be doing the job described in the proposal.
👌 Transparency
The budget should inspire confidence in your ability to manage a project & show you are competent & capable.
👌 Correct accounting
The budget should demonstrate that the project is well thought out and planned and that you have intimate knowledge of the associated costs involved.
The budget identifies the following:
🌱 That you have a full understanding of the project. This is a key indicator as to how you will deliver the project financially
🌱 The financial picture of the project alongside the written description
🌱 Your ability to optimize the requested funds
🌱 The requested funds deliver what is outlined in the overall proposal
The budget shouldn’t:
✂️ Have mathematical errors!
✂️ Raise questions that you are unprepared for
✂️ Shouldn’t over or under estimate
✂️ Apply for funds retrospectively
✂️ Ask for the wrong amount
✂️ Have format problems
You should always include:
🖊 Grants or funding from other sources (confirmed or pending)
🖊 In kind support, volunteer labour, pro bono, discounts
🖊 Organisational commitments/resources
🖊 Estimated sales – be conservative but as accurate as you can
🖊 The actual costs of items – get two quotes
🖊 A balanced expense and income budget
🖊 Item details/information as to how you have arrived at your dollar amounts
Manage your expectations:
🤔 Don’t request more than the funder says they offer
🤔 Don’t expect a grant to pay for your entire project
Not only super important for funders but for you also:
🤝 The budget works as a checking tool enabling you to make sure you have everything covered for your project that you need.
Do you need help with your grant applications? Click on the following links to learn more about our funding and grant services, products offered, our top-class team, along with our clients and testimonials.
Feel free to drop us a line info@leafcutter.co.nz or +64276320821 and hit us up with any questions you may have, or to find out how we can help.
