Many people find budgeting for their projects to be the most challenging part of the Neighbourhood Small Grants application. To help with this, we've come up with some simple steps to follow as you create a budget for your project.
Identify and list your project expenses based on some of the following considerations:
- Project activities - Once you know the purpose of your project, it’s easier to plan out the activities. For instance, if your project’s main purpose is to connect neighbours, you may plan to have a social gathering that includes food, games, and arts and culture activities for children, youth and adults.
- Project location - The cost of your project may vary depending on where your project takes place. For instance, hosting an indoor event may require budgeting for room and furniture rental, while having projects in public spaces such as neighbourhood streets or parks may require permit and liability insurance fees.
- Number of attendees - It’s easier to cost out your project expenses, such as food or workshop supplies, when you know or can estimate the number of people who will participate in the project.
- Honorariums - If you are planning to invite people with specific skills to contribute to your project, such as a local artist to run a workshop or an indigenous elder to do a welcome prayer at your event, make sure that you build honorariums into your budget to recognize the person’s contribution. Please note that honorarium fees are limited to $100 per project.
Find out the cost of your project: After listing all of your project expenses, come up with estimates for each category. You may do this by reaching out to facilitators you plan to engage, calling local stores, or searching online. Having an accurate budget will help you request an appropriate grant amount that will allow you to carry out the project successfully.
Think resourcefully: Borrowing or getting donations for your project are great ways to extend the value of your grant dollars. Many local businesses are interested and willing to support community projects through material and cash donations so you may want to approach them and let them know about your project.
Tracking your expenses: When you implement your project, make sure to keep receipts and track the costs of your project. This information will be useful especially if you plan to apply for a similar project in the future.
Start your application today, and make sure to contact your local coordinator if you have questions along the way.