Budgeting

Budgeting

One task groups face is the development of a plan to be fiscally responsible with funds. A budget can be a helpful method for keeping track of group funds.

A BUDGET is:

• A tool for planning and controlling organizational funds.
• A formal written guideline describing your organization's future goals, expressed in financial terms within a set period of time.
• A detailed statement of estimated income and expenses.
• A historical record of the organization's activities during a given period.

A BUDGET can:

• Help refine goals that reflect the realistic resource environment.
• Compel organization members to use funds efficiently and appropriately.
• Provide accurate information to adjust, analyze and evaluate programs and activities.
• Aid in decision-making.
• Provide a historical reference to be used for future planning.