IFMSA Leadership Training Program

Full Proposal

Budget All proposals should include a budget which clearly delineates costs to be met by the funding source and those provided by other parties and outlines both administrative and program costs. If a proposal is for a specific project, separate budgets for the general operating budget and the special project budget should be included. Budgets should show income as well as expenses and should be structured in columnar form, listing the expense on the left and the dollar amount in the right column, according to general accounting/bookkeeping principles. Budgets should not be submitted in narrative form. You might consider including a comprehensive financial annex to your proposal. Budget expense information should delineate personnel costs such as salary and benefit information, and non-personnel expenses such as facility costs (rent/mortgage, utilities, maintenance, taxes), fundraising expenses, travel, postage, equipment costs, supplies, and insurance. These should be reflected in both the expense and income columns. Sources of income should be listed separately as part of budget information. Sources should be actual funders, not merely prospects. However, pending proposals may be listed separately, if desired. Sources for funding may include fees for service, government funds, corporate/private grants, individual donations, etc. A budget should meet the following criteria: Tells the same story as the proposal narrative Is detailed in all aspects Includes project costs that will be incurred at the time of the program's implementation Contains no unexplained amounts for miscellaneous or contingency Includes all items asked of the funding source Includes all items paid for by other sources Includes all volunteers Includes all consultants Details fringe benefits, separate from salaries Separately details all non-personnel costs Includes separate columns for listing all donated services Includes indirect costs where appropriate Is sufficient to perform the tasks described in the narrative.