BudgettingOne 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- Provide a historical reference to be used for future planning.