Download a free copy of our budget proposal template and edit it or use it as a guide to write your own proposal document easily. First however, let us discuss how to write a budget proposal:
All about this Budget Proposal Template
A good budget proposal will help you get funding you need for your project. Decision makers who know about budgeting look for sound logic coupled up with good return on investment. To ensure approval, the proposal needs to feature detailed explanations of the costs and benefits of the project. The document does not have to be long. However, it should contain sufficient details so that the person reading it can understand the scope of the entire project and how it may be beneficial to him or his company.
The proposal budget needs to have a well written summary that highlights the most important aspects of the budgeting process. All these vital details should be on a single page and should draw the person who is reading it to react in a positive manner. It should include the total cost of the project and a bullet list of the benefits that will be gained by implementing the particular project under proper budgetary control. This will be clearly seen in the budget proposal template you can download free.
Prepare a work sheet
The project proposal should also have a work sheet that includes a list of all the expenses. This includes the support hours needed by the employees working on the project. Additionally, it lists all the equipment and any promotional or marketing funds needed to complete the project. This shows the readers exactly how their money will be spent.
Plan of action
Right after the worksheet, you need to insert a plan of action in the document. This details the implemented of the project. This section of the budgeting process accounts for the expenses, support costs and hours. It also shows a timeline for implemented. The timeline should include vital information such as opportunities to analyze and review the success of the project as it goes on. It gives the deadline for the completion of the project.
After writing the budget analysis, the project needs a conclusion. This should point out the repercussions of failing to go ahead with the project. Write this in a creative and convincing manner. It acts as a deal closer to help the reader make an informed decision in the positive manner. It is why you need a strong argument that fully supports the project.
Download the Budget Proposal Example
Read also the Purposes of Budgetary Control
Budgetary control is necessary to ensure a sound budgetary process and for successful operation of any business. The following are therefore necessary:
- To establish a plan or budget covering all the activities of a firm or organization of a given period. This period can be of any length but the most usual period is that of one year.
- Fix in monetary terms the objectives which the business sets out to achieve in that period, and to ensure that adequate working capital, including liquid resources, is available for achieving such objectives.
- Take corrective action where necessary.
- To provide, through the medium of comparison between actual and budgeted results, a basis for evaluating the efficiency of the firm’s operations, both in total and for each function or department.
It is necessary to understand the purposes of such control system. This is so if the company’s budget is going to be operated successfully and to maximum advantage.