A viable financial management strategy needs to address a vision for the future as well as incorporate an understanding of the past and present positions of the organization. This course will help participants develop a well-designed budget process that facilitates programmatic, strategic, and fiscal discussions among the leadership team, resulting in a mission-driven budget. Participants will learn how to take their budgeting process to the next level, gaining a firm grasp of technical and philosophical best practices regarding the nuts-and-bolts of nonprofit budgeting in a changing environment. The workshop will also introduce participants to the Program Based Budget Builder, an Excel-based financial planning tool.
- Defining financial goals and objectives in the budgeting process
- Implementing a comprehensive and inclusive financial planning process
- Identifying, allocating, and building indirect costs into program budgets to understand the real costs of program delivery
- Creating a funding plan to support your program objectives including budgeting for various scenarios
- When and how to use multi-year budgets in the planning process
- Incorporating cash flow projections in the annual budgeting process