Budget Proposal Template
One of the essential steps in launching a new project or venture is requesting a budget to cover the associated costs. Whether you need to ask for internal or external resources, you can use this template to develop a proposal to request funding for your project idea.
HubSpot Tip: Get to know the organization from which you are requesting funding. What do they think is important information? Adapt this template to meet the specific data your funder requires.
About the Project
This section is your chance to convince the funder that your project deserves sponsorship. Describe the nature of the project and why it is important.
Tell the funder about the people and/or organizations the project would impact. Who are the key players in the project activities? Who will feel the results of its successful implementation?
Focus on the outcomes of the project. What will funding this project improve in the organization, the community, or the world? What are the goals of the project?
HubSpot Tip: If appropriate for your industry, you might consider including an evaluation plan to indicate how you will measure the success of the project and whether it meets your stated goals.
Timeline
Indicate the period of performance for the project. When do you anticipate starting and by when do you think the project will be completed?
Consider showing the project timeline graphically, like in the schedule diagram below. If your project timeline is complicated, you might consider separating it into phases.
HubSpot Tip: While you might expect funders to prefer an aggressive project timeline, they are more likely to react favorably to a schedule with reasonable deadlines. Be sure to account for and document potential risks and schedule slips to show you have thought critically and deeply about your project.
Cost Information
Describe your costs to tell the reader how you will use the requested funding. The costs will vary depending on the type of project you are pursuing. Some common cost types include: direct labor, equipment, materials, travel, subscriptions, and facilities.
Use a table like the one below to organize and present your costs.
Cost Elements
Description
Estimated Yearly Cost
Direct Labor
10 hours at $100 per hour
$10,000.00
Equipment
10 machines at $100 each
$10,000.00
Travel
10 three-day trips at $1000 each
$100,000.00
Facilities
1 office space at $1000/month
$12,000.00
Total
$132,000.00
HubSpot Tip: You may need to justify your costs with background materials, such as lease agreements for office space, quotes for services or products, or resumes for the staff you plan to hire. Reference these materials in your description of the costs in this section, and then include them in an Appendix at the end of the document.
Cost Summary
After providing all of the details in the previous section, you should summarize all of the costs to make the big “ask” to your funder. Clearly present the total amount of funding requested.
HubSpot Tip: If your costs are ongoing, consider presenting them on an annual basis, to align with the company’s financial calendar.
Conclusion
Use this section as a call to action from your funder. In a couple of sentences, describe the next steps and summarize the potential impact of your project and the need for the funding. Be persuasive and as clear as possible.
HubSpot Tip: Provide your contact information (e.g., name, email address, and phone number) in case the reviewers have any questions about your proposal.