Budgeting

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  • #9050
    Tanaka Munyikwa
    Participant

      We have now completed our research and developed the criteria for our proposed solutions. We are now looking to better understand the budgeting side of the project.

      Could you please advise how we can find out how much funding we are allowed to use. How much support we may expect from government or charity contributions? We have done all research but the info is quite vague.

      #9051
      Tom Nguyen
      Keymaster

        Hey Tanaka

        Sounds like your team have made some really solid progress.

        Regarding budgeting, some handy points

        1. Review the cost and economic benefits as well as the delivery and ongoing maintenance aspects of your proposal https://ewbchallenge.org/challenge/saibai-island-tsirc/design-considerations/

        2. Research what TSIRCs annual capital works budget is for 2025. Based on our own research, the budget has increased substantially for FY24-25 compared to FY23-24

        3. If your design idea is significant in terms of deliverables/scope, perhaps you could assume that QLD State and Commonwealth grants could help realise your idea, particularly if there’s genuine cultural, social and economic benefit for the island community.

        4. Research the employment industries and average income of the island community, which may help with your budgeting

        5. Consider ongoing operational expenditure to support the maintenance and operation of your design solution.

        Hope this helps

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