budget justifications

Budget justifications are detailed explanations that accompany a financial plan or proposal, clarifying how each expense will be used and why it’s necessary. They help stakeholders understand the reason for each cost, ensuring transparency and accountability. For example, instead of just stating “$5,000 for equipment,” the justification would specify what equipment is needed and how it supports the project. This overview helps decision-makers evaluate the reasonableness and appropriateness of the budget, ensuring resources are allocated effectively to achieve the project’s goals.