Budget Trust Signals Checklist

Use this checklist before submitting your budget to ensure it signals credibility and attention to detail.

Salary & Personnel

• All salaries show FTE calculations (e.g., “0.5 FTE = 50% of $70,000 = $35,000”)
• Salary levels are appropriate for role and geographic area
• Benefits are calculated as percentage of salaries (typically 20-30%)
• Staff time aligns with project activities and timeline

Indirect Costs

• Indirect rate is explained (e.g., “15% of direct costs per organizational policy”)
• Basis for indirect calculation is documented
• If not requesting indirect, explanation is provided

Alignment with Narrative

• Every significant budget line item is referenced in narrative
• Budget scope matches narrative scope
• No unexplained large line items
• Program costs align with program description

Cost Reasonableness

• Unit costs are shown where applicable (e.g., “$500 per participant”)
• Cost per participant/unit is reasonable for the service
• Comparison to similar programs is provided (if available)
• Large line items include breakdown or explanation

Match & Leverage

• In-kind match is documented with basis (e.g., “Staff time: $50/hour × 500 hours = $25,000”)
• Cash match sources are identified
• Match calculations are transparent
• Match aligns with funder requirements

Timeline Alignment

• Costs are distributed across project timeline
• Year 1 costs align with Year 1 activities
• Multi-year projects show appropriate cost distribution
• No unrealistic front-loading or back-loading

Contingency

• Contingency is reasonable (3-5% for most projects)
• Contingency is explained if above 5%
• Contingency aligns with project risk level

Detail & Accuracy

• No excessive round numbers (suggests guessing)
• All required line items are included (travel, supplies, etc.)
• Budget math is correct (check totals)
• Budget format matches funder requirements

Red Flags to Avoid

• Round numbers everywhere
• Missing standard line items (travel, supplies, etc.)
• Unrealistic cost per unit
• No explanation for significant line items
• Budget doesn’t match narrative scope
• Math errors or inconsistencies

Final Review

• Budget tells a coherent story
• Every line item supports the narrative
• Calculations are transparent and verifiable
• Budget signals capacity and planning

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This checklist is part of Wellridge Advisory’s resource library. For more tools and templates, visit wellridgeadvisory.com/resources.