Optimizing the Budget Building Process
COURSE DESCRIPTION:
What is so special about nonprofit organization budgets? Like all other types of corporate and business entities, nonprofits must manage acquisition of funds and use of limited resources, but with the added heavy responsibility that they exist to support the “public good” while being governed by volunteers. Consequently, budgets serve an even greater role for nonprofit organizations.
Budgets help nonprofits use (expend) limited financial resources in a manner that not only advances mission but also recognizes capacity constraints, supports sustainability, and promotes continuity. Culture, management styles, and assigning budget responsibilities are important elements of proactive working budgeting systems and budget building processes.
In this presentation we will discuss actions and tactics you can use to enhance budget building processes including adding an annual budget process assessment, finding the right time to start the budget building process, budgeting for revenue and support, special tactics for budgeting for salaries, and how decentralizing the budget building process and documenting budget assumptions is key to success.
LEARNING OBJECTIVES:
– Assess the Impact of an Annual Budget Process Assessment: Participants will be able to assess how conducting an annual budget process assessment can facilitate change and improve organizational performance.
– Evaluate Timing Strategies for Budget Building: Attendees will be able to evaluate different timing strategies for initiating the budget building process and predict the potential benefits of even minor adjustments.
– Apply a Funding-First Approach to Budget Building: Participants will be able to apply a funding-first approach to budget development, prioritizing revenue and support considerations to enhance funding assessments and align programs, activities, and operations with available resources.
– Analyze Budgeting Tactics and Decentralization Techniques: Attendees will be able to analyze the effectiveness of special budgeting tactics, including salary budgeting, decentralization of the budget process, and documenting budget assumptions, as key factors for success.
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As a CAE Approved Provider educational program related to the CAE exam content outline, this program may be applied for CAE credits toward your CAE application or renewal of professional development requirements.
U.S Transactions Corp. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
In accordance with the standards of the National Registry of CPE Sponsors, CPE credits have been granted based on a 50-minute hour.
(National Registry Sponsor Nr: 138278)
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