Part 2: Budget Narrative Describe the estimated figures from Part 1 in a budget narrative that includes the following information: Describe at a high level the various cost categories and expenditures. Describe in detail the significant items in the budget, including how these expenses and revenues were determined and why they are important. Include a realistic amount for incidental costs and aim for accuracy, particularly when estimating personnel costs. Summarize how this budget will address your needs statement.