Sauk Valley Community College

an institution of higher education that provides quality learning opportunities to meet the diverse needs of its students and community

Budgetting

Budgetting

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  • Provide a historical reference to be used for future planning.