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Developing a Budget
 
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As you enter the summer months, most affiliates are beginning to develop a budget for the next year in preparation for the fall board meeting.  Planning your budget isn’t something that should be done the day before…We all know that happens!...and it will take some thought and work as you undertake the process. 

Generally, the budget preparation is the responsibility of the Treasurer and the Executive Committee.  If you have an executive director or business manager, they are an integral part of the process and will do the lion’s share of the preparation.  Additionally, you may have a finance committee that includes the chairpersons of your standing committees or special projects. 

As you begin to develop the budget, you’ll need to consider these factors:
  1. How accurate was your budgeting process for the previous year? Were you on-target with revenue and expenses or were they out of balance with what you anticipated?
  2. Did your past year’s budget reflect your organizational goals and objectives?Was there some “flex” there to allow you to deal with unanticipated issues?
  3. Will there be new expenses in the coming year that must be factored in? This could be an increase in organizational expenses such as rent, staff, printing, technology, etc.
  4. Do you anticipate that your revenue sources will increase or decline? Can you develop a budget that has some flexibility to incorporate either reduced or enhanced revenues?
  5. Are you planning a budget that allows for some reserves to be accumulated?
Budgets provide a guiding plan for your association to meet your goals and objectives for the coming year.  Make sure you align your budget with those goals and objectives and you’re well on your way!  Look below for links to some SECA resources that may be helpful. 

RESOURCES FROM SECA  
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E-Tips for a Shoestring Budget
 
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