Budget and budget justification. Format the proposal so that it is easy to read.Estimated hours and hourly rates may be expressed in a proposal to assist in the evaluation. Project budgets at the proposal stage provide an estimated, but detailed financial plan of what your project will look like if funded. Every proposal submitted to a sponsor or funding agency should include a budget that outlines all of the costs required to carry out the project objectives. You will need to fill in the appropriate rates and other information based on your budget and proposal period.