Budgets & Financial Statements

Arts Agency Total Budget

The lead agency on the application must submit its overall budget for the coming fiscal year. Included within that budget are the revenues and expenses of the proposed project. The specific project budget is detailed in a separate form, however (see below and within the application form).

• The OCA recognizes that this budget may be an estimate, in many ways, since it is for your upcoming fiscal year.
• The agency total budget must be completed on the form provided in the application form.
• Categories listed on the form may not match yours exactly. Where appropriate, combine your categories to fit the ones listed in the form.
• Include revenues that are anticipated. For example, if you have submitted an application to the Missouri Arts Council but don't know yet if it will be funded, you should still include it as it shows that you are making an effort to seek additional funding sources.
• Round to the nearest dollar.
• The in-kind column should net to zero.
• Check your math! Budgets that add up correctly prove administrative ability (the online form is set to do the math for you).
• The agency total budget should come before the project budget when you collate your application.

Project Budget

Keep in mind that you are preparing a proposal of an activity or activities. Since your application is just that, a proposal, it makes sense for your project budget to balance, without showing a profit or loss. In other words, plan your project budget so that it balances, with enough estimated revenue to cover the estimated expenses. If you show a loss, it could indicate to a reviewer that you do not have adequate backing to complete the project. Likewise, showing a profit might indicate that you don’t need all of the funds you are requesting. Once you know the result of your application and City Council approves your award you will revise your plans and the project budget based on the level of funding to be received.

• The project budget must be completed on the form provided in the application.
• Requests for city funding may not exceed $10,000.
• Since city arts funding is limited and the process is competitive, requests must be reasonable. Contact the OCA for statistical information on previous allocations such as the number and range of awards.
• Requests for city funding must be matched dollar for dollar. In other words, if you ask the city for $1,000, your project budget must be at least $2,000.
• City funding may be matched with cash, in-kind contributions or a combination of both.
• Round to the nearest dollar.
• The in-kind columns should net to zero.
• If your agency has more than enough funding to provide a cash match, then there is no need to list in-kind contributions. You may, but they are often hard to document. Consider mentioning the in-kind support in your narrative instead, as a way of communicating community support.
• City funds cannot be used for certain things such as staff salaries and the purchase of permanent equipment. Review the list of exclusions included on the eligibility page and refer back to it as you plan your project budget.
• If preparing a combined proposal, both education and presentation, the project budget should reflect both. You should not submit multiple project budgets, however.
• A diverse project budget is the best as it communicates broad support for the project (for example: ticket sales, a corporate sponsor, individual donations and another grant).
• Check your math! Project budgets that add up correctly prove administrative ability (the online form is set to do the math for you).
• The project budget should come after the arts agency total budget when you collate your application.

Financial Statements

Most likely, your organization already has an existing financial statement that the board of directors refers to at meetings. If so, submit it in its usual form, per the application guidelines. If your organization does not already have a statement, use this sample to create one.