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A budget is a game plan to help an ganization achieve its goals. Goals to be i‘bldCI'Ed are those of a committee. car or: term intermediate and long term - is of your organization as a whole. Steps in Preparing a Budget ‘ Prepare a list of the goals of the group, _ ms trips. Special speakers. shows. ban- u-q. purchase of resource material. , Estimate the cost of each goal. This .. be done on a committee level. Exist- ; financial records may be helpful as a L; .ng point. Estimate the expected revenue or inâ€" w .- of the organization ie. membership grants. book sales. Once again. exist- inancial records will be a good starting it, Compare the total expected revenue ‘ the total estimated costs of each goal ojecl. Build a realistic safety margin into the » gctuat least 10 to 15 per cent. Budgets be done by each committee or person : barge of a particular event or program in then submitted to the budget chairman. (‘r titematively. a committee may be given a ulget within which they must operate. v The budget must be approved by the h: ‘rd of directors. Once approved. no ad- d unal capital expenditures should be per- n iled without prior approval. 7. Monitor and analyze the budget unthly. Compare the budgeted amounts - the actual income and expenses. Remain icxible. Factors change which may alter he assumptions upon which the budget us drawn. 8. It is important to analyze the cash flow. [fan organization has a major expen- diture coming up. will the income be suf- ficient to cover the com or is extra fundraising or bridge financing required. Alternately. if there is a considerable sum of money nt being used for several months. it could be investedat a higher "life-teat until it is needed. It is good finan- cial management to be able to predict deficits or surpluses in an organization's cash flow. Preparing a budget for your urgnnitzr tion is time well spenit A balanced budget and cash flow projection will ullou your organization to run more smoothly. AL“ curate budgets come with practice. Leadership factsheets available 7 Ettclt lime you do .t budget you \HII mpericncc the challcngc ul’ hm mg the .nA luul umnunl ol' the Income .nul L‘\|7L‘li\L‘L‘Umc L'lU\L‘l’ to your projected tllllIlLIllh .liul'li'ur' ll'i'Ht‘ n H [mm munuuum m .Vfli'rl'til'itr fitl' l/Ir' (innit Ill \lrurtrn in] .‘lgrn‘nfnm' um! I'tliltI‘ m [Jul/um: ll mr The Ontario Ministry of Agriculture lllttl Fund has (I writ-s ol l1lL'l\ll\'L‘l\ on lk‘tltlL'l\lll|l topics which may be helpful to readers its intlwitluuls or in iltcu orpnni/uuom lllL' factshects may be ordered through the (.‘onstnncr Information L‘culrc, M.un l'lttttl , HI )I lid} Street. Toronto. M7A IA]. Plctlsc quote the order numhct .‘Illtl llllL' \\l1L‘tl [nth-ting (Factsheels marked with an asterisk are available in French.) 38.0“) A Guide to Bookkeeping lnr Nunl’ruiit ()rgunmnrnns 884323 Conducting Elections 35â€"016 Coping with Problem Behaviour 88-025 Effective Committees" 87-011 Effective Meetings“ 88â€"011 Fundraisng for your Orgunilutinn‘ 88-027 How to be an El‘fcclivc Lender“ 88-026 Newsletters - Design and l’ruduclion" 88-057 On Being a DCngttlL‘ 87-03] Preparing and Presenting at Brie!" 89-095 Procedures for Meetings 88-030 Program Planning1'or()rguni/utions 87-Dl0 Promoting Your Organization's Activities+ 37-002 Roles and Responsibilities Ul ()rguuirulinn Directors' 87-009 So You‘ve Been Asked to Speak” 88-017 Staning an Organizulinn“ S7-0l2 Working with Volunteers“ 89-0l2 Being a Club Treasurer - The Basics 89427 Organizations Assessing Their NUCth 89-]28 Minutes Don't Just Huppcn 88-005 Recruiting and interviewing l‘urm ElllplliycuU' 89- | 78 Motivation and Leadership 89-073 Strategic Planning 89-]76 Recruiting Volunteers 89470 Paying Wages to Farm Employees and Family Members l‘i'llt tVltliLlL April. Mu) II or t' Ii