What is the difference between a budget narrative and a budget summary?

What is the difference between a budget narrative and a budget summary?

A budget narrative explains the details and rationale behind budget items, while a budget summary provides a concise overview.

Can you give me an example of a budget narrative?

Sure! A budget narrative might explain why a specific amount is allocated for marketing, detailing expected outcomes.

How long should a budget narrative be?

Typically, a budget narrative should be clear and concise, often ranging from one to three pages, depending on the complexity.

Is a budget summary necessary if I have a budget narrative?

Yes, a budget summary is important as it provides a quick reference for stakeholders, complementing the detailed narrative.