I have a multy year budget proposal for our project. All the values in the
columns sum properly per year. However what I need to do is take the year end
total cell and increase each years total by 3% to allow for inflation. How do
I create such a formula so the 3% increase shows in an adjacent cell to the
year end total?

At first blush the answer sounds easy: if the year end total is in cell
A1, then the formula is =A1*1.03

However, since your budget is across several years, consider using the
POWER function. That will ensure the 3% increase is applied across all
years.
Year 1 formula: =A1*POWER(1.03,1)
Year 2 formula: =A1*POWER(1.03,2)
Year 3 formula: =A1*POWER(1.03,3)
etc.