How to Construct Multiyear Costs on Your Grant Application
Some grant applications require you to project multiyear costs. When you’re planning to construct a building or purchase specific items of equipment, engineers or vendors can usually give you bids that are very close to the actual cost of the construction or equipment you’ll need. However, when you’re seeking funding for personnel or line items with prices that fluctuate, take care to account for inflation when preparing your budget.
In a multiyear request, your line items should increase by at least 5 percent annually.
Here’s how to create an award-winning multiyear budget summary table:
Column 1: Type your line-item categories.
Column 2: Type your Year 1 in-kind contributions by category.
Column 3: Type your Year 1 cash contributions by category.
Column 4: Type your Year 1 amounts requested from the funder by category.
Column 5: Type your Year 2 in-kind contributions by category.
Column 6: Type your Year 2 cash contributions by category.
Column 7: Type your Year 2 amounts requested from the funder by category.
Continue this sequence for all remaining years in your multiyear budget support request. Only run your total at the bottom of each column, vertically. Don’t run horizontal totals (at the end of rows); it’s too confusing for the funder to nail down the actual costs and requests for any specific year. Use an Internet search engine to find examples of multiple year budgets.