Describe at a high level the various cost categories

Reference no: EM133493081

Problem

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 do the budget and the person who approves the budget are typically different people to ensure accuracy and transparency in reporting.

In this problem, you continue working on your grant proposal to address a criminal justice initiative by reporting on your budget plans for the grant. Use the framework for the budget and narrative that you submitted in Week 2 as a foundation for this assessment. Incorporate feedback from this week's discussion.

Do 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.

Part I: Budget

Research and estimate revenues, expenses, direct and indirect costs, and any in-kind contributions for your grant proposal initiative.

Do a 5-line budget in a table or spreadsheet that includes the dollar amounts for the following:

1. Line 1: Estimated revenues
2. Line 2: Estimated expenses
3. Line 3: Itemized direct costs
4. Line 4: Indirect costs
5. Line 5: Any estimated in-kind contributions

Part II: Budget Narrative

Do the estimated figures from Part 1 in a budget narrative that includes the following information:

1. Describe at a high level the various cost categories and expenditures.

2. 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.

3. Summarize how this budget will address your needs statement.

Reference no: EM133493081

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