Budget Guidelines

Creating a well-structured and compliant project budget is essential for the success of your YSEALI Seeds for the Future 2025 application. This guide provides comprehensive instructions on developing a feasible budget, outlining allowed expenses, restrictions, and best practices to ensure your financial planning aligns with YSEALI’s standards.

What is the Budget?

The budget is a financial plan detailing how grant funds will be utilized to implement your project. It demonstrates your ability to manage finances responsibly and allocate resources effectively to achieve your project goals.

Key Components of the Budget

1. Total Amount Requested

  • Maximum Funding:
    • Innovation Catalyst: $12,000
    • Impact Accelerator: $8,000
    • Emerging Leaders: $5,000
    • Note: Applications requesting amounts exceeding these limits will be disqualified.
  • Requesting Less: You may request less than the maximum based on your project’s specific needs and scope.

2. Currency

  • Options: You can submit your budget in your local currency or USD.
  • Conversion: If using your local currency, convert amounts to USD using a reliable currency converter (e.g., OANDA) to ensure accuracy.

3. Cost Share

  • Definition: Cost share refers to additional funding or in-kind contributions from other sources.
  • Examples:
    • Donations of office space
    • Monetary contributions from NGOs
    • Funds from other grants
  • Purpose: Demonstrates external support and financial commitment, strengthening your application by showing diversified funding sources.

4. Expense Categories

Organize your budget into categories to ensure clarity and compliance:

  1. Supplies
    • Description: Materials needed for the project.
    • Examples: Brochures, workshop materials, educational resources.
  2. Travel
    • Description: Transportation costs related to the project.
    • Examples: Local transportation, regional flights within ASEAN and Timor Leste.
  3. Personnel
    • Description: Compensation for project-related personnel.
    • Examples: One-time stipends or fees for speakers, volunteers.
  4. Other
    • Description: Miscellaneous expenses essential for the project.
    • Examples: Website hosting, advertising, essential equipment.

Common Restrictions

Adhere to the following restrictions to ensure your budget complies with YSEALI’s guidelines:

  • Disallowed Expenses:
    • International Airfare Outside ASEAN and Timor Leste: Only flights within ASEAN and Timor Leste are permitted.
    • Large Durable Equipment: Items like helicopters or high-end professional cameras are generally not allowed unless essential for your project.
    • Excessive Meals or Entertainment: Costs must be reasonable and directly related to project activities.
    • Academic Research Funding: Funds should be used for project implementation, not for research purposes.
    • Partisan Political Activities: Any funding related to political activities is strictly prohibited.

Budget Tips

  1. Follow Instructions Meticulously:
    • Ensure all budget items comply with YSEALI guidelines.
  2. Reasonable and Justified Expenses:
    • Each expense should be necessary and directly related to project activities.
  3. Clear Explanations:
    • Provide detailed descriptions for each budget item to facilitate understanding by reviewers.
  4. Avoid Over-Allocation:
    • Do not allocate excessive funds to a single category unless justified by project needs.
  5. Balance Budget and Impact:
    • Ensure that the amount requested aligns with the scope and intended impact of your project.

Budget Breakdown Example

Supplies:

  • Items: Printing brochures, purchasing materials for workshops.
  • Cost Per Unit: $6 per brochure.
  • Total: $600 for 100 brochures.

Travel:

  • Items: Round-trip flights within ASEAN.
  • Cost Per Unit: $100 per flight.
  • Number of Flights: 2.
  • Total: $200.

Personnel:

  • Items: One-time stipends for guest speakers.
  • Cost Per Unit: $500 per speaker.
  • Total: $1,000 for two speakers.

Other:

  • Items: Website hosting and advertising.
  • Cost Per Unit: $50 per month.
  • Total: $600 for 12 months.

Final Budget Considerations

  1. Total Funding Requested:
    • Ensure your request does not exceed the allowed budget ($12,000; $8,000; or $5,000).
  2. Cost Share Inclusion:
    • Clearly outline any additional funding sources.
  3. Detailed Descriptions:
    • Provide context for each expense to demonstrate its relevance and necessity.

Next Steps

For more detailed guidance on crafting your budget and ensuring compliance, please refer to the following articles in our Help Centre:

Final Tips for a Successful Budget

  • Use Reliable Tools: Utilize trusted currency converters like OANDA for accurate currency conversions.
  • Document Contributions: Keep records of all cost share contributions and ensure they are verifiable.
  • Review and Revise: Double-check your budget for accuracy, completeness, and adherence to guidelines before submission.

Budgeting Checklist

  • Disclosed all sources of funding and cost share contributions.
  • Allocated funds to approved expense categories only.
  • Provided clear and detailed descriptions for each budget item.
  • Ensured total funding requested does not exceed the maximum allowed.

Self-Assessment Questions

  1. Have I included all necessary expense categories in my budget?
  2. Are all expenses reasonable and directly related to my project activities?
  3. Have I disclosed all additional funding sources and cost share contributions?

Final Reflections

Balancing Budget and Impact

A responsible and transparent budget is crucial for the credibility and success of your YSEALI Seeds for the Future 2025 project. By carefully planning and justifying your expenses, you demonstrate your commitment to effective project management and sustainable impact.

Your Role as Future Leaders

As participants in YSEALI Seeds for the Future 2025, you are setting the standard for financial integrity and responsible budgeting. By adhering to these guidelines, you showcase your ability to manage resources efficiently, ensuring that your projects achieve their intended goals and create meaningful change in your communities.

We Are Here to Support You

Should you have any questions or need further guidance on budgeting, please reach out to the YSEALI support team. We are committed to assisting you in developing a strong and compliant project budget.

Good Luck!

We look forward to reviewing your well-planned and impactful project budgets that will drive positive change across Southeast Asia.