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Connecting Budgets and Budget Processes to Project Managers and Staff
What is so special about nonprofit organization budgets? Nonprofits must manage and balance acquiring funding and use of limited financial resources with the added heavy responsibility that they exist to support the “public good” while being governed by volunteers. Consequently, budgets for nonprofit organizations are integral to mission delivery as well as financial health and continuity.
Budgets help nonprofits use (expend) limited financial resources in a manner that not only advances mission but also recognizes capacity constraints, supports sustainability, and promotes continuity. Culture, management styles, and assigning budget responsibilities are important elements of proactive working budgeting systems and budget building processes.
In this presentation we will discuss actions and tactics you can use to better connect project managers and staff with budget planning and budget building processes including adding an annual budget process assessment, engaging staff with rolling projections and looking forward, budgeting for revenue and support, special tactics for budgeting for salaries, and how decentralizing the budget building process and documenting budget assumptions is key to success.
Track
Accounting
