What is the cost narrative of a proposal?

The budget narrative is the place to reinforce the story you've told in the body of the proposal. It's a detailed description of the line items in your budget, hopefully demonstrating how the things you'll spend money on will allow your organization to accomplish what you've promised in the proposal itself.

What is the difference between budget and 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 is a budget narrative in a grant?

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.

How to create a budget narrative?

Within a budget narrative, you will need to describe each expense, detailing what it entails and explaining how it contributes to the project's objectives and overall success. Your explanation should address the “what” and “how” questions regarding fund allocation.

What is the proposed budget for a grant?

A grant budget is a detailed financial plan that outlines the estimated expenses of your proposed project or program for which you're seeking funding. If the budget isn't carefully crafted or doesn't fall in line with the requirements of the funder, it could cause you to lose the award.

How to make a narrative budget?

A Simple Step-by-Step Process for Creating a Narrative Budget Select four to six categories that encompass your ministry activities. Assign percentage of each budget line item to each category. Calculate the dollar amount of each line item assigned to each category.

What is a grant project narrative?

It is important to remember that grant narratives are the main body of your grant proposal. The narrative is your chance to describe your organization and your project while demonstrating to the funder that you are qualified to complete the proposed work.

What is the budget narrative for the federal grant?

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).

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