$20.00 – $75.00
The accuracy of your organization or program’s budget is one of the key factors in an organization’s financial stability, growth and ability to fulfill mission. Your budget is your financial plan, and the outline of how your mission and objectives will be carried out, guiding your organization’s operations and key decision-making. This essential class will demonstrate the components and qualities of an effective budget, the budgeting process, budgeting best practices and projecting cash flow.
We’ll start with a brief overview of financial statements and learn how to read the story they tell and review basic financial terms and different types of financial systems. After these core concepts are reviewed, the class will consider a systematic approach to constructing a budget for a program or organization.
In addition to learning how to create a budget, this class will include strategies for monitoring actual income and expenses and comparing them to budget so that you’re able to make important management decisions in real time, and be able to project where you will end up, based on good data. You’ll learn about how cash flow statements can be used to monitor and project potential cash shortfalls so you are able to adjust and plan accordingly. We will also cover methods of allocating shared costs and explain how to incorporate that into your budget. With a deeper understanding of all the components of your budget, including those demonized administrative and overhead expenses, you’ll be in a better position to make the case for being worthy of support from potential and current donors and other stakeholders.