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Nonprofit Budgeting.pdf

2009-budgeting-nonprofit-boards-information-bulletin.pdf

🔗 Source: open.alberta.ca

📊 Size: 79 KB

👤 Author: Carmen.Borgess

⬇️ Downloads: 137

Summary

A budget is a financial plan of action for a specific period, estimating costs and revenues, and is a process of gathering information, making assumptions, and projecting forward. Budgeting involves setting organizational goals and priorities, determining dollars needed, and reflecting this in the annual operating budget. The budget must be timely, accurate, and reviewed throughout the year, with the approved budget forming the basis for action. The steps involved in budgeting include gathering information, preparing the budget, receiving approval, and monitoring and evaluating the approved budget. Budget preparation should coincide with the annual reporting period, and common sense and good judgment are essential. Historical data and input from key stakeholders are used to estimate revenues and expenses, and budget policies help create the appropriate degree of board participation in budgetary planning and control.

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Description

A budget is a financial plan of action for a specific period, estimating costs and revenues, and is a process of gathering information, making assumptions, and...

Technical Information

File Format: PDF
File Size: 79 KB
Pages: 8
Language: EN
Author: Carmen.Borgess
Total Downloads: 137
Last Updated: 4 weeks ago

Document Overview

This PDF document about Nonprofit Budgeting provides comprehensive information and guidance. Whether you're a beginner or advanced user, this resource offers valuable insights into Nonprofit Budgeting.