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  • Provide a historical reference to be used for future planning.