Introduction to the Budget Proposal Template:

A budget proposal can be described as a plan that is used to propose the amount of money that is to be spent on the project. 

Many, if not all, proposals will require a short budget to be included. This budget will need to show the expected expenses and income.

You will need to include a breakdown of all the costs that directly and indirectly relate to the benefit being created. Costs such as production, marketing, distribution, utilities, support staff, insurance, and legal /accounting expenses should be included. 

"Include personnel costs, direct project costs, and administrative or overhead expenses" - The Balance

Directly follow your budget with a justification statement explaining why each cost, material, and equipment is valid, reasonable, and important for your project.

This budget proposal checklist is for the proposal writer to outline the need for the project, the actions involved in the project, the time frame, costs, and expected outcomes/objectives.

This can be used as a stand-alone checklist or used alongside a proposal application. 

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Complete checklist details

Complete the checklist details in the fields below. 

Enter proposal reviewer details

Enter details about the person/company who will be reviewing your proposal in the fields below. 

Establish the company mission, values, and objectives

Describe the mission, values, and objectives of your company to make sure they are aligned with the proposal reviewer's company.

The more aligned your commission, values, and objectives are with theirs, the more chance your proposal will be successful. 

{{form.What_are_their_values,_mission_and_objectives_as_a_company/sponsor?}}

Confirm the statement of need/problem statement

Think about the purpose of your proposal.

Answer the below question to help you write a succinct need/problem statement which you can add to your budget proposal document. 

Outline the proposed action

Think about what you will do if your proposal is accepted. 

Describe the actions you will take to fix the problem/meet the need, in the field below. Add this to your budget proposal documentation. 

Confirm timings

In your budget proposal document, provide a rough outline of the proposed timings for the activities described:

{{form.What_will_you_do_with_this_grant_if_it_is_awarded_to_you?}}

Provide a breakdown of all direct costs

In your proposal document, you will need to include a breakdown of all the costs that directly relate to the benefit being created.

Direct costs can include production, marketing or distribution costs.

To help you gather these direct costs together, record each proposed activity, the justification for each activity and the associated costs for each in the fields below. 

Provide a breakdown of all indirect costs

In your proposal document, you will need to include a breakdown of all the costs that indirectly relate to the benefit being created.

These are costs that are not directly identified with the project benefits, including facilities use, utilities, support staff, insurance, and legal /accounting expenses.

To help you gather these indirect costs together, record each proposed activity, the justification for each activity and the associated costs for each in the fields below. 

Provide a summary of all costs

These are all the direct and indirect costs associated with your proposed project/program/activity: 

{{form.Activity_1:}} - {{form.Cost_of_activity_1:}}

{{form.Activity_2:}} - {{form.Cost_of_activity_2}}

{{form.Activity_3}} - {{form.Cost_of_activity_3:}}

{{form.Indirect_activity_1:}} - {{form.Cost_of_indirect_activity_1:}}

{{form.Indirect_activity_2:}} - {{form.Cost_of_indirect_activity_2:}}

{{form.Indirect_activity_3:}} - {{form.Cost_of_indirect_activity_3:}}

Add this to your budget proposal document 

Provide a justification for costs

Write a justification statement, in your budget proposal, explaining why each cost, material, and equipment are valid, reasonable, and important for your project/activity/program.

To refresh your memory, these are the reasons for these costs: 

{{form.Activity_1:}} - {{form.Justification_of_activity_1:}}

{{form.Activity_2:}} - {{form.Justification_of_activity_2:}}

{{form.Activity_3}} - {{form.Justification_of_activity_3:}}

{{form.Indirect_activity_1:}} - {{form.Justification_of_indirect_activity_1:}}

{{form.Indirect_activity_2:}} - {{form.Justification_of_indirect_activity_2:}}

{{form.Indirect_activity_3:}} - {{form.Justification_of_indirect_activity_3:}}

Describe the expected outcome once funding has been given

In your proposal document, detail what the expected outcome will be if you win this proposal. 

Write a proposal letter

Write your proposal letter.

Follow any guidelines given in the request for proposal or by the proposal reviewer, but make sure you include the following information at the very least: 

  • 1
    Your company address
  • 2
    The date
  • 3
    The proposal requester's company address
  • 4
    Name of key contact
  • 5
    Project/activity/program name
  • 6
    Project/activity/program description
  • 7
    Problem/need statement - an explanation of why you are submitting this proposal
  • 8
    Description of what you will do if your proposal is accepted
  • 9
    Estimated timelines
  • 10
    Estimated costs
  • 11
    Your contact details for any questions

Upload proposal & letter

Upload your finished budget proposal document and proposal letter in the fields below so you can send these for internal approval. 

1st draft approval:

Will be submitted for approval:
  • Upload proposal & letter
    Will be submitted

Implement feedback

Record the feedback you have received for future proposals.

Update your current proposal document/letter accordingly and re-upload them both for final approval.  

Final approval:

Will be submitted for approval:
  • Implement feedback
    Will be submitted

Submit budget proposal

Send the approved budget proposal and letter. 

{{form.Upload_final_proposal_letter}}

{{form.Upload_final_budget_proposal}}

Sources:

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