Budget Planning Guide
Essential tools and formulas for creating professional grant budgets.
Quick Reference
Categorys
| Roomnight-Focused | |
| Arts & Culture | |
| Events & Festivals | |
| Hamlet & Micro-Brand |
Budget Requirements
Format: Whole dollars only (no cents)
Other Funds: Preferred 20-50%
Contingency: Maximum 5% of total
Volunteer Time: Minimum $25/hour
Documentation: Vendor quotes for major expenses
Expected ROI
Tourism Revenue: Minimum 3:1 ratio
Roomnight Goal: Varies by category
Geographic Reach: 60+ miles preferred
Length of Stay: Multi-day impact
Sustainability: Plan beyond grant period
Essential Calculation Formulas
Personnel Calculations
Example: $52,000 ÷ 2,080 = $25/hour
Example: $25/hour × 200 hours = $5,000
Add to personnel costs for employees (not contractors)
Use higher rates for professional volunteers (lawyer = $200/hour)
Marketing & ROI Calculations
Compare to industry standards ($5-15 per person reached)
SCVA expects minimum 3:1 ratio
Tourism industry average: $50-150 per new visitor
Budget Percentage Calculations
Example: ($15,000 ÷ $50,000) × 100 = 30%
Should be 50-80% for competitive applications
Ensure reasonable distribution across categories
Equipment & Material Calculations
Example: ($15,000 ÷ $50,000) × 100 = 30%
Should be 50-80% for competitive applications
Ensure reasonable distribution across categories
Budget Do's and Don'ts
Critical Mistakes to Avoid
- Requesting 100% grant funding with no matching funds
- Exceeding category maximum funding limits
- Using vague descriptions like “miscellaneous expenses”
- Math errors where totals don’t add up correctly
- Unrealistic cost estimates (too high or too low)
- Missing indirect costs (taxes, benefits, overhead)
- Poor timeline alignment with budget phases
- No vendor quotes for major expense items
- Contingency exceeding 5% of total project cost
- Budget categories that don’t match project description
Best Practices to Follow
- Include 20-50% matching funds for stronger applications
- Research actual costs and obtain vendor quotes
- Provide specific, detailed line item descriptions
- Show calculations and explain cost methodology
- Align budget perfectly with project timeline
- Document all matching fund commitments
- Use professional presentation and organization
- Include appropriate contingency (3-5% of total)
- Demonstrate cost-effectiveness and value
- Plan for sustainability beyond grant period
Budget Development Process
Follow this step-by-step approach for professional budget creation
Before You Start
Read grant guidelines, understand category requirements, download templates, and research actual costs for major expenses.Determine Project Scope
Define total project scope first, then work backwards to specific line items. Ensure alignment with project description.
Research Costs
Get vendor quotes for major expenses, research comparable projects, and use federal rates for travel calculations.
Secure Match Commitments
Confirm availability of matching funds, get volunteer commitments, and document in-kind contributions.Complete Budget
Work through categories systematically, double-check all calculations, and ensure professional presentation.Review & Refine
Have multiple people review for errors, read budget narrative aloud, and verify alignment with all requirements.Need Budget Help?
Success isn’t just about spending grant money – it’s about creating lasting tourism impact that benefits Sullivan County’s economy and reputation.
