Budgeting Considerations: Not-for-Profit Governance and Assurance
Budgeting can be more than just an annual exercise of putting numbers in columns. It has the potential to establish benchmarks, measure the organization’s financial health from one year to the next, and determine priorities. It is intended to be a planning tool that reflects a not-for-profit organization’s programs, mission and strategic plan.
This CPE course offers you detail-rich examples and a case study that will help you turn budgeting into a positive planning process that can help your not-for-profit achieve its strategic goals and increase accountability in the budgeting process.
Included in the course resources is a downloadable budget worksheet template in Microsoft Excel, which you can customize for your organization.
- When you complete this course, you will be able to:
- Recognize steps to build a realistic and controllable budget
- Differentiate between various types of revenue sources available to NFPs
- Determine the impact of revenues subject to donor-imposed restrictions on budgeting and cash flow
- Recognize common issues that arise during the budgeting process
- Determine ways to increase accountability in an NFP’s budgeting process
- Budgeting pitfalls
- Budget planning and consensus-building strategies
- Diversification of revenue streams
- Grants management
- Creating an operating reserve
- Cash flow concerns