The Budget Increase Request Form is designed to streamline the process of seeking additional funding for projects or initiatives that have evolved beyond their original scope or encountered unforeseen circumstances. This form provides a structured framework for employees to present a compelling case for the need for increased budget allocation.

Required components:

1. Request Details: Provide an overview of the need, its goals, objectives, and current status.
2. Timeline: Is multi-year funding required? When are the expenses expected to be incurred?
3. Department/Index: Where does the funding need to be loaded?
4. Financial Justification: Break down the requested budget increase by line items, explaining how the funds will be utilized. Highlight how each expense contributes to project success.
5. Back up documentation: Attach all relevant documents, including but not limited to budget spreadsheets, email communication, price quotes.

Other items to consider:

1. Benefits and Impact: Articulate the anticipated benefits and outcomes of the project after the budget increase. How will the additional investment lead to enhanced results?
2. Comparison to Alternatives: If applicable, compare the budget increase with potential alternatives, showcasing why the proposed increase is the most viable option.
3. ROI Analysis: Provide a brief analysis of the return on investment, emphasizing the long-term gains that will result from the increased budget.