How to properly prepare your budget?

How to properly prepare your budget?





When preparing the budget for your funding application, several essential elements must be taken into account to ensure compliance, consistency and transparency.


Here are the key things to properly prepare your budget:

First and foremost, your budget should Mandatory to be filled in the Budget template Download it before completing it.

Revenues Section

  1. Amount of the campaign: Your budget should include the amount you want to raise in the community through your fundraising campaign.
  2. Amount of the Fund: Indicate the amount equivalent to that of your campaign (or the bonus amount associated with your Fund, this information can be found in the Fund Policy).
  3. Other sources of income: If you have any, you can include other sources of income in your project (loan, personal investment, etc.). Make sure these sources of income are confirmed and not forecast, as your project is based on them and you will need to prove access to these funds.


Expenditures section

  1. Accuracy and realism: Make sure all forecast expenses are based on realistic and validated data, such as updated prices and quotes. Avoid unfounded approximations and base your forecasts on reliable data.
  2. Justification and transparency: Justification of Expenses: Accompany each expense line with a clear justification. For significant expenses (10% or more of the budget), add quotes or quotes to support your forecasts.
  3. Transparency: Add explanatory notes for reviewers to understand your estimates. Break down multiple budget items in the "Factories and Comments" column of the Expenses section.
  4. Compliance: Make sure all your expenses comply with the rules of the Fund from which you are applying. Consult the Fund's policy to identify ineligible expenses.


Balance of budget

The budget must be balanced: the total amount of revenues must be equal to the total planned expenditure.


Tips and tricks

  1. Tip for clarity of expenditure: Make sure each expense is described with its primary function to facilitate overall understanding.
  2. Decomposition of expenditure: If an expense includes multiple small expenses, detail them in the appropriate column.
  3. Specification of salaries: Always mention the number of hours and the hourly rate for each salary (internal or external), or whether it is a lump sum, specify it and indicate the period or task concerned.



Notes
Namely

Taxes: All expenses must be recorded duty-free, taxes are not eligible in your budget.

Administrative costs: The administrative costs of La Ruche and Stripe are eligible and can be grouped into a single expense line.

By following these guidelines, you will increase your chances of obtaining funding while ensuring the transparency and reliability of your project. Stay organized and accurate for every part of your budget.