How to prepare a budget
Grant applicants are expected to accurately draft the budget, ensuring the maximum level of transparency and clarity. They have to provide a realistic and cost-effective budget plan and they are responsible for the correctness of the financial information provided.
The Budget must cover all costs of the Action, not just those covered by the EU contribution. The description of items must be sufficiently detailed and all costs/items broken down into their main components.
How to fill in the budget format
- The budget must be drafted using the EuropeAid budget format that is intended to summarise the costs of an Action during its whole duration;
- If the Action is to be implemented over a period of more than 12 months, the budget (same columns and rows) must be completed for “all years” and for “year 1”;
- The number of units and unit rate must be specified for each component depending on the indications provided. Costs and unit rates shall be rounded to the nearest EURO cent;
- Sub-lines for detailed types of costs (e.g. not just “vehicles”, but rather “cars”, “motorbikes”, “trucks”) should be added under the relevant budget lines;
- State clearly the Sources of Funding, dividing the amounts among applicant’s contribution, EC contribution, other EU contributions, other sources to be specified;
Few tips to prepare an appropriate budget:
- All costs included in the budget must comply with the principles of cost eligibility;
- Prepare a realistic and cost-effective budget starting from a budget per activity;
- The budget shall cover all the project direct costs (no earmarking on EC Contribution);
- Identify and describe all costs with sufficient detail (no lump sums!);
- Be accurate and avoid arithmetical mistakes
The budget format is divided into four sheets: