I'm guessing the original poster meant fictional narrative as opposed to documentary.
"Tarnation" was essentially a documentary. It was made "for $200" but there are other costs that most film budgets include like food but he probably did not include... also do you include donations of time, money, camera, computers, software, etc?
It is well publicized that there were $400,000 in music and video clip royalties. Also, I believe Gus Van Sant and the distribution company paid additional fees to clean up, color correct, etc. before final release.
Still it was an impressive feat and quite an interesting film.