Discuss the role of a budget in a grant proposal - why is it needed and why is it so important for funders. List the three other names the budget justification is also called and the purpose of the budget justification.
Most federal proposals explain how to structure the budget narrative but some private and corporate funders do not. For simple grant projects, list at least two (2) options for structuring the budget narrative.
What are the “watchwords” for the budget justification?
Explain why “the more detail the better” when writing a budget justification?

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.