Closing out the nonprofit 2018 budget and setting up the 2019 budget is not an easy task when you have multiple stakeholders and processes. We understand that a successful budget is carefully crafted and implemented by a thorough nonprofit budget team, then cautiously monitored and continuously updated throughout the year to reflect inevitable changes affecting your organization and the community you serve.
Generally, budgeting is regarded more in terms of planning and enacting a fiscal plan. However, these planning and enactment processes are dependent upon the accounting of past-year and current-year expenditures, revenues, transfers, and prior year adjustments. See below for some helpful best practices you can immediately adopt in your monthly and quarterly tasks.
Budget Review: Monitoring and Revising
and begin proactively applying the monthly and quarterly steps to help you easily prepare and minimize the pressures of unexpected asks from your donors, board members, and executive staff.