How Can Teachers Plan An Effective Budget?
Learn how to plan an effective budget for grants and enhance the learning experience.
Making a budget is crucial when applying for grants. It is the first part of the proposal that funders will review because it reveals a great deal about the strength of the project and the teacher’s competency in guiding students through it. A budget, therefore, needs to reflect details about the project and how each item is essential for that project.
As a teacher thinks of how much money they will need for a specific project, keep in mind these two important characteristics of an effective budget:
- It should reflect every item that will be required for successful and effective implementation of the project.
- It should be realistic and reasonable. Funders should not think the items quoted are irrelevant or will not impact student learning in a positive way.
With these characteristics in mind, the steps to creating a budget include:
Step 1: Review the project and systematically note each item that will be required in order of importance.
Step 2: Categorize these items into groups according to the extent of their use, such as consumables (paints and charcoal, markers), recurring (whiteboards, computers, iPads, furniture, special lights, easels, equipment, posters, furniture) and one-time costs such as field trips, travel to facilities, and fees paid to visit experts and professionals.
Step 3: Research and record prices and fees of the required items or services.
Step 4: Identify items that can be provided by the school (whiteboards, markers, paints and brushes, special lights, computer tables, storage space, expert fees).
Step 5:Calculate the total cost needed from outside funding reflected in the budget.
With a little bit of planning, researching and recording making a budget does not have to be difficult, but can make a big difference in the outcome of a classroom project.