Budget Elements of Proposal Paper

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Budget Elements of Proposal Paper
It is extremely important to consider what type of budgeting to include in a proposal before writing it. A strong proposal can fall to pieces if it is not partnered up with a realistic budget. There are four types of budgets to consider when writing a proposal. This report will take an in depth look at all of them in order to create a firm understanding how to apply each type. The itemized budget is meant to break down an allotted amount into specific categories in order to show exactly were funding will go for every aspect of the job. This can often take several pages to properly account for where the money is being used. The downfall to including this type of budget in a proposal is that it could add multiple pages to the proposal making it seem a little dry. However it is always a good idea to create a personal itemized budget in order to help keep track of where the money is going and to show any funding sources exactly how the money has been split up. On the other hand if a company is requesting a budget that is not quite as detailed as for the mentioned the non itemized budget takes the categories in an itemized budget and places them into specific sub categories. For example categories such as electricity, water and gas expenses could be placed under a subcategory labeled utilities. This type of budget can shorten considerably the length of a proposal, there for making the proposal easier to read. Another type of budget that can be incorporated into a proposal is a fixed budget. This type of budget assigns a set amount of money to a project with no intentions to increase the amount of funding. It is advisable to incorporate an itemized budget into a proposal of this type because the money has to be more strictly tracked. If more money is spent on project than agreed upon then the extra expenses has to come from the pockets of the company writing the proposal. However if the company does not spend the allotted amount...
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