What is a Functional Budget?

This week on #GrantChat we are talking about functional budgets and how functional budgets help with project design, grant proposal development, and grant management. There are many types of budgets. Your organization or department may have a master budget, operating budget, cash flow budget, and/or financial budget. It can be confusing. Funcitonal budgets as they are essential to developing and managing grants. However, not all grant seeking organizations are using a functional accounting and budget process.  For grant professionals, a lack of a functional budget or functional accounting can be a major red flag and a barrier to developing successful grant proposals.  Join the discussion to share and get tips, tools, resources, and more!

Question Preview:

Q1: What is a functional budget? #grantchat

Q2: Who works on your org’s budgets?  Have you ever (helped to) developed a functional budget? #grantchat

Q3: What is the difference between a P&L statement and a functional budget? #grantchat

Q4: Is your budget in your accounting software so you can compare the budget to actuals? If not, why? #grantchat

Q5: How do functional budget help to increase successful grant applications?  #grantchat

Q6: How do functional budgets increase excellence in grant stewardship? #grantchat

Q7: What do you do when you find out a grant seeking organization does not have a functional budget? #grantchat

Q8: What do you wish organizations did differently or knew about budgets and grants? #grantchat

 Q9: What are your greatest challenges with budgets and grants (seeking, proposals, or management)? #grantchat

Q10: Please share resources and tools you have found helpful with budgets for grant seekers. #grantchat

 

We’re looking forward to having you join @Grant_Chat at 12 Noon ET. Join our Grantchat Facebook Group to get the check in question and to keep the discussion going!

Guests: Grants.gov @grantsdotgov

Sponsor: GPA @GPANational 

Host: Jo Miller, GPC @jomillergpc 

Presented: SmartEGrants @smartegrants

©2017 #GrantChat - A Weekly TweetChat of Grant Writing Professionals

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