Budget Management for SEED projects Environment Team Estates Department University of Leicester

SEED application – completion flow chart This is when you will be allocated funds from the SEED fund

Why you need a detailed budget plan? You can keep track of your incoming and outgoing costs. The funding will be organised so you can afford the materials you need. Your project doesn’t fall short or doesn’t get finished. So that your application gets accepted!

Budget Plan ~ First Steps (using Morsbags as an example) Get in touch with your allocated member of staff, they may have suggestions, contacts, and knowledge to help you. Arrange a list of all the things you may need to pay for – absolutely everything, from travel and transport, materials, printing, labour, renting equipment. The maximum you could receive from the SEED fund is £500 – so don’t exceed this in your proposal.

For example ~ Morsbags Project Costs Sewing Machines x5 (second-hand refurbished) Supreme Sewing Machines, Leicester - £50 each Material – scrap and collection Leicester market, 25m of material, £2/m Collection Bin for further material donations Morsbags group in Oadby – selling for £20 Thread, needles, scissors and sewing boxes x5 Supplies from Knit One, pins £8, needles £8, tape measure x4 £8, unpicker x4 £8, cotton x10 £8 Iron and ironing board x2 Iron from Wilkos x2 £15. Ironing boards x2 £25 Promotion and Printing at university Morsbags bag logos x200 Room Bookings Extra costs – more materials Total predicted costs £250 £50 start up cost £20 £40 £10 - £50 £450

Formulate into Excel ~ Useful! Include Running Totals so you keep on top of when you spend what

Consider cheaper alternatives, e.g. if there is a mechanism you need made, why not get in touch with the Engineering Department to see if they can help you rather than contacting exterior suppliers. Research who you will be purchasing your materials from and make sure costs are an accurate reflection of this. Add this to your budget plan. Budget Plan ~ Second Steps (using Morsbags as an example)

Your project should now withstand any problems that come your way! Keep all your receipts so you can prove where you have spent the money. You will need all this information at the end of your project when you might like to write a piece or blog on its success! Budget Plan ~ Final Steps (using Morsbags as an example)

If you’d like some support to make sure you’re on the right track or to help plan your budget management, do not hesitate to contact us: *Check out our Resources area for Project and Time Management training presentations*