What is a Budget?. A budget is a plan that identifies the financial resources required to achieve programmatic objectives. Once constructed, this plan assists staff in managing the program efficiently throughout the year. Planning the Process:.
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A budget is a plan that identifies the financial resources required to achieve programmatic objectives. Once constructed, this plan assists staff in managing the program efficiently throughout the year.
How long the process takes and who should be involved varies depending on the management style and complexity of the entity. Typically the budgeting process should start four months before the end of the fiscal year to ensure the budget is approved.
Clearly communicate responsibilities of staff involved so that information is processed in a timely manner for completion of budget on schedule.
Constant communication throughout the year will also keep Managers or Directors apprised of any issues that are happening that would impede service delivery which could
lead to funding issues or cash flow
issues as well.
Once you know what services you are providing you can structure a budget to fit the needs of the clients/participants and the community.
Construct budgets using historical data. Keep in mind any issues that occurred the previous year such as unit reductions or unit increases.
Also drastic increases in
expenses such as vehicle
maintenance or insurances.