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Training budget?

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What is a budget?
A budget is a detailed plan of income and expenses

Why do I need a budget?

A training budget for a short training course helps you:
• control your money
• to monitor your expenses and income
• plan in advance how much money you need to spend and how you can generate income to cover your expenses
• make decisions about your spending
• account for any funds you have received from a funding organisation, and complete the necessary acquittal process

How do I prepare a budget?

Before you can prepare a budget you need to prepare a training plan.The training plan helps you to make a correct estimate of training expenses. If you have not completed a training plan refer to the module Develop a Training Plan. Once you have developed a training plan you can follow these steps to prepare a budget.

Identify training expenses

An expense is any money you spend. The following are examples of training expenses.

1. Marketing
Some examples of marketing expenses are:
• marketing materials such as brochures or flyers
• contacting people in your network.

2. Professional staff
Professional staff expenses include:
• wages of trainers
• wages of assistant trainers and administration staff.

3. Transport and travelling
Transport and travelling expenses may be incurred by the training provider and the trainees.
Examples include:
• vehicle hire
• fuel
• bus fares

4. Raw materials
Raw materials are the materials you need to make the product you are teaching trainees to do. For example in the mango jam making course, raw materials include:
• mangos
• sugar
• water
• lemons

5. Equipment
Equipment includes items you need to make the product during the training course. For example in the mango jam making course equipment includes:
• cooking pots
• firewood stoves
• jars with lids
• cutting boards
• measure cups

6. Tools
Tools are any implements needed for the training. For example a mango jam making course
might include the following tools as expense items:
• wooden spoons
• tongs
• knives

7. Training materials
Training materials include:
• whiteboards, chalkboards, pin boards
• stationery items
• printed programs
• handouts
• notes
• workbooks

8. Training venue
This includes any hire fees for use of the training venue. Also included in this expense item are the following items because they are used as part of the training venue.
• electricity
• fuel
• water

9. Refreshments
Refreshments include any food and drink provided during the training course