Grant Budget Planning
A financial officer is supported by team members who write a variety of reports to inform stakeholders of the results of decision-making at different levels of an organization. A higher authority such as a Chief typically needs to approve budget proposals so that, if funds are issued, they can be used and monitored effectively. The person who creates the budget and the person who approves the budget are typically different people to ensure accuracy and transparency in reporting.
In this assessment, you continue working on your grant proposal to address a criminal justice initiative by reporting on your budget plans for the grant.
Assessment Deliverable
Write a 525- to 700-word report as if you were on a team supporting the financial officer who is responsible for estimating the budget for the grant proposal and explaining it with a budget narrative for the Chief to review during the grant proposal process.
Use either Microsoft Excel or Word to complete the following parts in your report.
Part 1: Budget
Research and estimate revenues, expenses, direct and indirect costs, and any in-kind contributions for your grant proposal initiative.
Create a 5-line budget in a table or spreadsheet that includes the dollar amounts for the following:
- Line 1: Estimated revenues
- Line 2: Estimated expenses
- Line 3: Itemized direct costs
- Line 4: Indirect costs
- Line 5: Any estimated in-kind contributions
Part 2: Budget Narrative
Describe the estimated figures from Part 1 in a budget narrative that includes the following information:
- Describe at a high level the various cost categories and expenditures.
- Describe in detail the significant items in the budget, including how these expenses and revenues were determined and why they are important. Include a realistic amount for incidental costs and aim for accuracy, particularly when estimating personnel costs.
- Summarize how this budget will address your needs statement.
The budget narrative should be in complete sentences. If you use Microsoft Excel for your budget report, you may use one or multiple cells to show the narrative.
Cite reputable sources to support your pricing estimates using APA guidelines.
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Grant Budget Planning
Grant Budget Planning is the process of developing a detailed financial plan for a grant-funded project. It involves estimating revenues, expenses, direct and indirect costs, and in-kind contributions, while providing a clear narrative explaining how the funds will be allocated and used. This process ensures transparency, accuracy, and accountability, allowing decision-makers—such as a Chief or funding authority—to understand how the budget supports the objectives of the grant initiative. Effective grant budget planning aligns financial resources with program goals and demonstrates responsible stewardship of…