{"id":5067,"date":"2019-12-18T19:47:18","date_gmt":"2019-12-18T19:47:18","guid":{"rendered":"https:\/\/artsnb.ca\/web\/?page_id=5067"},"modified":"2019-12-18T20:21:40","modified_gmt":"2019-12-18T20:21:40","slug":"tips-on-budgets","status":"publish","type":"page","link":"https:\/\/artsnb.ca\/web\/resources\/toolkit\/tips-on-budgets\/","title":{"rendered":"Tips on Budgets"},"content":{"rendered":"\r\n<p>1.\u00a0Budget forms vary a little from program to program, but the basics remain the same:\u00a0expenses\u00a0are listed in the left column,\u00a0revenue\u00a0appears in the right column, and both columns must add up to the same amount so that the budget is\u00a0balanced.<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"384\" src=\"https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide1.png\" alt=\"\" class=\"wp-image-5037\" srcset=\"https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide1.png 672w, https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide1-300x171.png 300w, https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide1-237x135.png 237w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/figure>\r\n\r\n\r\n\r\n<p>2.\u00a0Expenses\u00a0show how much your project will cost. You don\u2019t need to list all of the expenses, but the main ones should be included\u2013especially the ones allowed by the program for which you\u2019re applying.\u00a0Revenue\u00a0shows where the money (funding) will come from. Some\u2013or all of it\u2013will come from\u00a0artsnb.<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"384\" src=\"https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide2.png\" alt=\"\" class=\"wp-image-5039\" srcset=\"https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide2.png 672w, https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide2-300x171.png 300w, https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide2-237x135.png 237w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/figure>\r\n\r\n\r\n\r\n<p>3.\u00a0When expenses and revenue are added up, both totals should be\u00a0equal\u00a0so that the budget is\u00a0balanced. The budget then shows accurately how much it will cost to execute the project and how the expenses will be covered.<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"384\" src=\"https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide3.png\" alt=\"\" class=\"wp-image-5041\" srcset=\"https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide3.png 672w, https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide3-300x171.png 300w, https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide3-237x135.png 237w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/figure>\r\n\r\n\r\n\r\n<p>4.\u00a0Allowable\u00a0expenses\u00a0vary from program to program, so you should consult the relevant documentation to find out what you can claim as expenses. Many programs allow you to claim\u00a0some\u00a0subsistence\u00a0over the course of the project, which can be food and rent, for example, or room and board when your project takes you far away from home.<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"384\" src=\"https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide4.png\" alt=\"\" class=\"wp-image-5043\" srcset=\"https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide4.png 672w, https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide4-300x171.png 300w, https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide4-237x135.png 237w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/figure>\r\n\r\n\r\n\r\n<p>5. The main source of funding (revenue) for your project will usually be a grant from\u00a0artsnb,\u00a0this is what you\u2019ll use to cover your costs.\u00a0However, if expenses exceed the maximum amount available from\u00a0artsnb, then additional funding must come from elsewhere in order to balance the budget. Extra funds could be in the form of\u00a0\u2018in-kind\u2019 contributions\u00a0(personal or otherwise) or they could come from\u00a0other agencies.<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"384\" src=\"https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide5.png\" alt=\"\" class=\"wp-image-5045\" srcset=\"https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide5.png 672w, https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide5-300x171.png 300w, https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide5-237x135.png 237w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/figure>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\">Some Common Scenarios<\/h2>\r\n\r\n\r\n\r\n<p>Following are a few scenarios that occur frequently. One of these might represent your own particular situation.\u00a0Unclear, confusing or unbalanced budgets are one reason why applications are rejected; so it\u00a0is to your advantage to present a budget that is clear, transparent, and consistent with your project description.<\/p>\r\n\r\n\r\n\r\n<p>6. You need less than the maximum allowed by artsnb.\u00a0Some programs, like Arts-by-Invitation, only allow a few kinds of expenses (e.g. travel and accommodations), which means that even when all allowable expenses are accounted for, the total might be smaller than the maximum available.<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"384\" src=\"https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide6.png\" alt=\"\" class=\"wp-image-5056\" srcset=\"https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide6.png 672w, https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide6-300x171.png 300w, https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide6-237x135.png 237w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/figure>\r\n\r\n\r\n\r\n<p>7. Your project requires a lot more than the maximum allowed by artsnb.\u00a0Even though you don&#8217;t need to list all expenses&#8211;especially if they far exceed the maximum available through artsnb&#8211;you might have reasons to do so. In any case, make sure that your budget is clear and transparent, and that costly items are described with enough details for a proper evaluation. For example, if you&#8217;re going to claim thousands of dollars for materials and services, you need to describe these expenses briefly.\u00a0If your budget is quite elaborate, you might want to present it on a separate sheet of paper.<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"384\" src=\"https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide7.png\" alt=\"\" class=\"wp-image-5054\" srcset=\"https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide7.png 672w, https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide7-300x171.png 300w, https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide7-237x135.png 237w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/figure>\r\n\r\n\r\n\r\n<p>8. Some expenses might be covered by a third party, but\u00a0you still wish to acknowledge their contribution in your budget.\u00a0Sponsors or collaborators will sometimes contribute space, materials or services to your project on an in-kind basis. You can acknowledge such a contribution by listing it as an expense in the left column and entering the same amount as a revenue in the right column. Make sure to add a note next to these items so that in-kind contributions are clearly identified.<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"384\" src=\"https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide8.png\" alt=\"\" class=\"wp-image-5052\" srcset=\"https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide8.png 672w, https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide8-300x171.png 300w, https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide8-237x135.png 237w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/figure>\r\n\r\n\r\n\r\n<p>9. Some of your expenses exceed the amount allowed for that particular item. Most programs have upper limits to the amount available from artsnb for specific items. For example, the maximum grant available from a given program might be $5,000, but no more than $1,000 can be spent on travel. You need to pay attention to such details and ensure that your budget clearly respects and reflects these limits.<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"384\" src=\"https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide9.png\" alt=\"\" class=\"wp-image-5050\" srcset=\"https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide9.png 672w, https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide9-300x171.png 300w, https:\/\/artsnb.ca\/web\/wp-content\/uploads\/2019\/12\/Slide9-237x135.png 237w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/figure>\r\n","protected":false},"excerpt":{"rendered":"<p>1.\u00a0Budget forms vary a little from program to program, but the basics remain the same:\u00a0expenses\u00a0are listed in the left column,\u00a0revenue\u00a0appears in the right column, and both columns must add up to the same amount so that the budget is\u00a0balanced. 2.\u00a0Expenses\u00a0show how much your project will cost. You don\u2019t need to list all of the expenses,<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":5011,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-templates\/resources-page.php","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-5067","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tips on Budgets - ArtsNB<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/artsnb.ca\/web\/resources\/toolkit\/tips-on-budgets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tips on Budgets - ArtsNB\" \/>\n<meta property=\"og:description\" content=\"1.\u00a0Budget forms vary a little from program to program, but the basics remain the same:\u00a0expenses\u00a0are listed in the left column,\u00a0revenue\u00a0appears in the right column, and both columns must add up to the same amount so that the budget is\u00a0balanced. 2.\u00a0Expenses\u00a0show how much your project will cost. 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