Tell us how you will manage the budget for this project
example answers
In my previous work with Vortex Arts, I have 7 years experience of managing budgets of a similar size successfully, ensuring projects came in on budget and cash flow was managed. As an individual artist I previously held an ACE grant and effectively managed the budget and reported on the spend at the end of the project. All project funds will be managed from a separate bank account used solely for this purpose. I will make sure…
The producer for the project, Nasreen, is experienced in financial management and will keep detailed records of all income and expenditure, backed up by the relevant paperwork e.g.copies of invoices, receipts etc. We will have weekly meetings during the project which will include discussing the spend on the budget and checking we are on track. I have included a contingency to cover any unforeseen costs. We will issue contracts to all creative team members which show fees, payment terms, budget allocations and schedules. Invoices will only be paid once they have been checked against the planned spend and contracts and…
We are a trusted and transparent organisation that has successfully delivered projects and carefully managed budgets from £1000 up to £200,000 budgets for multi year projects. Grant monies are ring fenced and allocated an accounting code specifically for the project, following our organisation’s rigorous financial procedures. We use Xero to record all transactions and have a 2 stage approvals process for large payments. The project manager is an experienced budget holder and they will be supported by the company administrator who handles all of our day to day financial transactions. They will record…