Budgeting Basics. You can t manage what you don t measure.

Transcription

1 Budgetig Basics You ca t maage what you do t measure.

2 Why Budget? Why Budget? Budgets are critical to the success of a orgaizatio The budget provides a framework for orgaizatioal decisiomakig. Developig a budget helps your board make choices betwee projects. Usig it helps to maitai focus o what s most importat to your group. Oce upo a time there was a voluteer-ru o-profit orgaizatio called Happy Campers that eeded to raise fuds to provide the services their members couted o. So they decided to hold two fudraisers. 1 I the fall they sold cookie dough. They brought i $7,000 ad had expeses of $3,800. They showed a et gai of $3, I the sprig they had a dessert auctio. They brought i $1,250 ad had expeses of $100 ad showed a et gai of $1,150. Which evet was more successful? How do you kow? Is the evet that brigs i the most moey always the most successful? Would it surprise you to lear that the Cookie Dough fudraiser was a huge disappoitmet ad the Dessert Auctio a huge success? You see, i the prior year the Cookie Dough fudraiser had brought i $10,000 ad had costs of $4,800. The Happy Campers had made otes The budget provides a framework for orgaizatioal decisio-makig. 2

3 Why Budget? $5,200 ad were coutig o that agai this year. So the $3,200, while welcome, fell well short of expectatios. O the other had the Dessert Auctio rocked! They had ever ru oe before. Threw it together at the last miute. Hoped to raise a couple of hudred dollars. Ad were absolutely thrilled with the $1,150. How do we kow whe the thigs we do are successful? Success is based o expectatio. If we do better tha we expected we cosider ourselves successful, if worse the we are disappoited. Budgets are tools that set expectatios for a orgaizatio. They tell us what we expect to achieve ad give us somethig to measure agaist. Without a budget, the Happy Campers might have bee happy with the $3,200. But they had expected more based o what they had achieved i the past. So the disappoitig result gave them the impetus to look at what they could improve. Who kew that chagig the date this year would make it the same 2 weeks as the Girl Guide cookie sales? Chage it back! Maybe reward the top sellers with gift certificates. Is there a differet cookie dough vedor that offers better margis? Or is it time to switch to pizza? Likewise the better tha expected results for the Dessert Auctio meat that they could thik about droppig other small fudraisers that were much more trouble ad ot as much fu. otes Budgets are tools that set expecatios for a orgaizatio. 3

4 Why Budget? A budget gives us a totally differet perspective o our results. It is a critical tool for ay orgaizatio. Effectively devisig a budget ad carefully scrutiizig the results ca make the differece betwee the success ad failure of a orgaizatio. Whe do you start? A budget is most effective ad easiest to work with whe it correspods to your fiacial year. Note that if it does t you will fid it much more difficult to track actual spedig agaist budget! There are two schools of thought o budget preparatio / timig. Oe school advises the preparatio of the budget by the outgoig board two or three moths before the ed of the fiacial year. Outgoig board members have the advatage of a year s experiece. They have see what works ad what does t ad ca reflect that i plas for the followig year. I this case the budget is ormally submitted to the membership for approval shortly before the begiig of the ew fiacial year. A audit or fiacial review is performed as soo as possible after the old year is closed. The books are the haded over. This way icomig boards have fuds i place to start operatig, ad ca revise the budget if eed be without pressure. The other school of thought advocates preparatio of the budget by the icomig board sometime after the begiig of the ew fiacial year. The thought here is that it is iappropriate for outgoig otes A budget is most effective ad easiest to work with whe it correspods to your fiacial year. 4

5 Why Budget? board members who will ot be resposible for the ew budget to impose decisios o icomig board members who will be. I this situatio the budget is prepared ad brought to the membership as soo as possible after the begiig of the ew fiacial year. After membership approval of the budget ad completio of the audit or fiacial review, the books are haded over. I some orgaizatios stadig rules prohibit the ew board from spedig ay moey at all util the ew budget is approved. This ca put a lot of pressure o the icomig board to produce a documet quickly. There are advatages ad disadvatages to both scearios. Sometimes a goverig body sets the stadard. Sometimes it is just a matter of habit. Who s o the team? Let s preted it s a perfect world. I a perfect world you would have a budget committee made up of 5 to 7 people. You would all get together for the Visio. The the projects ad services group would break off to set Service Goals. Ad the fudraisig group would get together to pla their Fudraisig strategy. The all back together agai for the balacig act. But we re voluteers ad a lot of the time the world is ot all that perfect. It may just be the Treasurer ad the Presidet. Agai. I this case the process wo t be as much fu. Ad you will have to do more work. But at least you wo t have to share the browies. otes I a perfect world you would have a budget committee made up of 5 to 7 people. 5

6 First, the visio. First, the visio. Get buy-i from your team to esure success Whe board members ad committee chairpersos participate i the budgetig process that affects the areas for which they will later be resposible, they are much more likely to take owership ad try to make thigs work. The budgetig process is a great way to uite your orgaizatio ad collectively focus o your visio ad goals. Is your Budget a re-do? Does your orgaizatio simply take last year s budget umbers ad put this year s date at the top? If so you are missig a great opportuity. The way you sped your moey reflects your values, whether you sped with coscious itetio or ot. Before you eve start tryig to put umbers to paper, you will wat to make sure that your Board agrees o commo goals. There is o poit i tryig to figure out how much to sped o Movie Night if half your Board thiks all your moey should be goig for educatio, ot etertaimet. Have those hard coversatios first. This is the time to schedule a retreat with your board members, whether that meas a weeked at a beachside resort or Saturday morig i the school library. Be prepared to deal with big issues. otes The budgetig process is a great way to uite your orgaizatio ad collectively focus o your visio ad goals. 6

7 First, the visio. Start by reviewig the year that is edig. Take a look at the objectives you set forth at the first of the year. Did you achieve them? If so, ackowledge your achievemets. If ot, are the goals still desirable? Or eve relevat? What would eed to happe this year to make them a reality? If ot, what ew goals should take their place? Some groups survey their members beforehad ad take this time to review the surveys ad make broad decisios based o this iput. What to put o the survey? Prepare a list of the services you provided last year ad how much each cost. The ask thigs like: Are our dues too high? Too low? Just right? Would you be willig to pay higher dues if we provided more services? What are the 3 most importat services we provide? What are 3 thigs we ca elimiate that you would t eve miss? What ew thigs do we eed to add? Would you be willig to voluteer your time to make these happe? Fid a impartial facilitator. Have a ageda. Make sure that everyoe s voice is heard. Set overall goals (e.g. our PTA speds moey o Curriculum Erichmet, Studet Services ad School otes Make sure that everyoe s voice is heard. 7

8 First, the visio. Support). What percetage of our budget should be spet o each? Structurig your thikig this way ca be very helpful. It meas that you ll sped more time talkig about what percetage of the budget should go toward Curriculum Learig rather tha arguig the merit of oe sciece assembly vs. aother. This is big picture time. Fid commo groud. Come prepared to both share your ideas ad to compromise. Oce you have established these broad guidelies you will be ready to deal with specifics. The the goals That was big picture. Now we get dow to the details. Fid a comfortable room with wall space, a white board or a easel/easel pads, ad some markers. Get the easy stuff out of the way first. It is geerally pretty straightforward to determie your overhead budget (office supplies / pritig costs / treasurer software / isurace etc.). Establish that first. Look at the last year or two for guidace. Add it all up ad get a total - this is your Admiistratio or Overhead Expese. It s the cost of doig busiess. Note that may groups will iclude leadership traiig here as well. Put that all o oe sheet, write the total o it ad hag this sheet up o a wall. otes It is geerally pretty straightforward to determie your overhead budget. Establish that first. 8

9 The the goals The start workig o the services you wat to provide. What if you were able to raise all the moey you eeded? This is the time to take these broad guidelies you ve established ad do some braistormig. Resist the urge at this poit to try to figure out where the moey is comig from. Figure out icome after establishig outgo. Here s somethig you probably already kow. There are lots of thigs that your orgaizatio does that brig i moey. That does t ecessarily make them fudraisers. If you produce a yearbook that brigs i $7,000 ad it costs you $7,000 to prit, the you make $0 for your efforts. What s the poit? But wait, you re ot doig it for the moey, right? That Yearbook is a service you are providig. Make sure that these self-fudig services are icluded i your list. Whe it comes to braistormig, cosider these guidelies: Set a time limit (5 miutes? 10 miutes?) The more the merrier - it s hard to braistorm with just a couple of people. Ecourage everyoe to participate. Keep the eergy level high ad ethusiastic. Neither criticize or complimet ideas as they are preseted. Just write them o that sheet. This is key. otes it s hard to braistorm with just a couple of people. 9

10 The the goals Ecourage creative thikig, icludig out of the box ideas. Build ad expad o the ideas of others. The best way to get good ideas is to have a lot of ideas. Keep them comig. We re goig for quatity here, ot quality. Do t stop util you ru out of time. Times up! Take a breather. Stop. Stretch. Refill the coffee mugs. Walk aroud a little. Play musical chairs (OK ot really musical chairs, but sit i a differet seat ext to someoe ew see how it shifts your perspective to sit ext to someoe that you thik you will disagree with). While the group members get a browie fix ad make ew frieds, the facilitator posts fresh sheets o the wall. Each has the title of oe of the objectives from your visio (say Curriculum Erichmet, Studet Services ad School Support). Oe sheet per objective. Go through your braistorm list ad assig each idea to the appropriate sheet. Have a extra sheet for Eve More Ideas if somethig does t seem to fit. Do t deal with why or how of these right ow. Now you will have a sheet for each of your objectives filled with ideas o how to fulfill them. Time to resist aother temptatio do t cross off thigs that wo t work. Istead, oe objective at a time, ivite the group to fid the ideas that really shie. If we were oly able to do oe thig, which would it be? What would do the most good? How may people would this impact? Where ca we get the most bag for the buck? Ad the big oe: How may voluteer hours will it take? otes Ecourage creative thikig, icludig out of the box ideas. 10

11 The the goals Fid cosesus. Agree o the top 2, 3 or 6 or whatever is appropriate. Do this for each sheet. Ad the Eve More Ideas? If somethig really shies here, after you have worked through your Objectives, the deal with it ow. At this poit you will have a list of your objectives ad your top goals for each. Now you eed to kow how much all this will cost. Put umbers to each activity ad get totals. How do the totals for each objective relate? If your visio states that Curriculum Ehacemet is your umber oe priority, the it should get the majority of the fudig. Right? This will esure that the process has t bee hijacked. Adjust as ecessary. Yes, we kow this is t as easy as it souds. But that s why they pay you the big moey! Last Year/Next Year (ad why they matter THIS year) It is a rare orgaizatio that starts from $0 ad speds all it makes durig that year, leavig othig i the bak accout for those who follow. Chaces are your group has or will have some moey carried forward from the prior year s activities. Good ews less moey that you will eed to raise to achieve your objectives. otes It is a rare orgaizatio that starts from $0 ad speds all it makes durig that year, leavig othig i the bak accout for those who follow. 11

12 Last Year/Next Year Havig said that, it would put the icomig board i a very difficult positio to start the year with $0.00. Some groups have bylaws or stadig rules that require a miimum dollar amout to be available for startup costs for the ext year. It is importat that you kow how much this is required to be. Based o your ow experiece, you may decide to leave eve more. Bad ews more moey that you will eed to raise to achieve your objectives. Do t cofuse moey carried forward from last year with icome. It is importat both that you recogize this as fuds available to you ad also that it had othig to do with your efforts. Your icome is what you ear durig the curret fiacial year. The Happy Campers ormally raise $20,000 each year. Through some stroke of luck they have $15,000 left over from last year, ad so have $35,000 available to sped. They will be able to provide a lot of services! If they oly leave $2,000 for the board that follows, it eeds to be clear to the icomig board that they will eed to raise $33,000, ot $20,000, to match the level of services. Similarly, do t cofuse moey carried forward to ext year with expeses. Expeses have to do with moey that leaves your orgaizatio. Moey that is still i your bak accout at the ed of the year ca t be cosidered a expese. Make it clear o your budget how much is beig set aside for ext year. We hear a lot about $0 budgets - we sped what we brig i. O the surface this is a admirable goal. Essetially if there was aythig otes Do t cofuse moey carried forward from last year with icome. 12

13 Last Year/Next Year left i the kitty at the ed of last year, it will be carried forward to ext year. If the carry forward amout is reasoable for your group, the that is a valid approach. But we have see groups where the carry forward exceeds their aual budget, sometimes by te thousad dollars or more. That is difficult to justify. If you are sittig o a pile of moey that has ot bee previously allocated to a specific purpose (see Restricted Fuds) the yes, it really is OK to sped more moey tha you brig i. Wiggle Room You caot foresee every possible evetuality. Budget i a lie item called Uaticipated Costs or Wiggle Room. Make it 5 to 10% of your Operatig Budget. That way if the Directory comes i over budget or the Doatios come i uder, you will have a source to draw from. Some groups add the followig wordig to the headig of the budget that they preset to their membership for approval: With permissio to the Board to re-allocate as ecessary. That way if you exceed your Uaticipated Cost lie item, or did t have oe, the Board ca decide that it will reduce the umber of movie ights to free up extra moey for a readig program, without havig to go to the membership for approval to revise the budget. Sometimes a dollar limit is specified, (e.g. up to $500). otes You caot foresee every possible evetuality. 13

14 Wiggle Room With the recet ecoomic cruch we have also heard from groups that ow precede their budget with this statemet: With permissio to the Board to re-allocate as ecessary ad / or to limit discretioary spedig i case of shortfall. Stuff happes. Get real. Be prepared. Restricted Fuds Sometimes a group will allocate fuds for a project that will ot be completed withi the year that the moey was allocated. Your membership may vote to make these fuds restricted. That meas that the moey you raise or allocate for this project caot be used for ay other purpose. Suset PTA wats to build a ew playgroud for the studets i their elemetary school. They have estimates of $40,000 for this project. The PTA leaders kow that it will take at least 3 years, perhaps 4, to raise these extra fuds. I some cases their childre will be log goe before the playgroud is built. They do t have a problem with this. But they do wat to make sure that the moey they are raisig, the beefit of which is essetially beig withheld from their childre, will be used for the purpose that was iteded. Not ew chairs for the library or pig-pog tables for the teacher s louge or a board retreat to a earby casio ad spa. otes Your membership may vote to make some fuds restricted. 14

15 Restricted Fuds I this case, whe the budget is voted o, the amout allocated for the Playgroud fud is desigated as restricted. This meas that these fuds are set aside ad ca oly be used for a playgroud. So fuds set aside i 2012 as Playgroud Restricted remai restricted util they are used for that purpose or util the curret membership votes to chage the desigatio ad u-restrict the fuds. For example whe the playgroud project is complete, if $40,000 was raised ad oly $38,000 spet, the membership would eed to vote to approve that the restrictio be lifted o the fial $2,000. How is this differet tha o-restricted fuds? You may budget $250 for Office Supplies each year. If you sped just $100 i 2010, chaces are you will budget $250 agai i 2011 or eve less. Not $400 ($150 ot spet plus $250 for the ew year) - right? What s ot used goes back ito the kitty. Restricted fuds do t go back ito the kitty. If you are a ew treasurer comig ito a orgaizatio with Restricted Fuds, you eed to take special care to esure that you maitai eough moey to cover these Reserves. Make sure that you have a lie item i your budget for 2012 Playgroud Restricted with $10,000 budgeted out. It ca be helpful to have a separate lie item for each year that fuds were added to this project, so: 2010 Playgroud Restricted - $11, Playgroud Restricted - $8, Playgroud Restricted - $10,000 otes Restricted fuds do t go back ito the kitty. 15

16 Restricted Fuds You may decide to keep these fuds i a separate bak accout. Just remember that placig them i a separate Playgroud bak accout is t what keeps them Restricted. It s the vote that couts. Last thought o Restricted Fuds. We will share the experiece of a high school we kow that does fudraisig for graduatig class parties. Studets start the fudraisig process as early as their freshma year so there are at least 4 Restricted Class Party Fuds goig o at all times. Through some iaccurate bookkeepig they foud themselves edig the year with less moey i the bak tha they eeded to cover the 4 Class Party Fuds. Oops. O discoverig this, they plaed extra geeral fudraisers to cover the shortfall ad implemeted better cotrols ad reportig to esure this did t happe agai. Do t let this happe to you. You do t wat to have $29,500 i Restricted Fuds ad oly $20,000 i the bak. I eed to raise how much??!! Now you have a idea of how much the services you wat to provide will cost. You have take ito accout the moey that is available from the prior year ad added i the amout that you will leave i the kitty for ext year. Add i Wiggle Room ad Restricted Fuds if ay. The total is how much you eed to raise to fud the services you wat to provide. otes Fudraisers are thigs you do oly because you eed to raise moey. 16

17 I eed to raise how much??!! $ Cost of Proposed Services $ Carry Forward From Last Year + $ Carry Forward to Next Year + $ Wiggle Room + $ Restricted Fuds from Prior Years $ Total Fuds Required Now we are at the poit where we eed to start talkig fudraisers. These are thigs that you do oly because you eed to raise moey. This is ot the directory or the yearbook or the carival or book fair that you would do whether you made moey o them or ot (services, remember?). This is focused moey makig. Why else would we sed our kids out door-to-door to sell magazies to our eighbors? Or more likely, brig the forms ito the office so that our co-workers will feel obligated to order them because they owe us for all that gift wrap we bought for their fud drive. Basically there are four ways to brig i moey: 1. People give you moey ad get othig i retur besides a sicere otes Basically there are four ways to brig i moey. 17

18 I eed to raise how much??!! thak you letter (doatios / pledge drives / corporate matchig fuds / grats / o-bake sales). Be specific whe you are askig for doatios. Please support our school is t aywhere ear as effective as Our third graders are learig about the life cycles of vegetables. We wat to build raised beds i the suy area behid the school where they ca plat seeds, ted the plats, ad harvest ad eat the results. Would you be willig to doate $2 (or more!) for lumber, soil, tools ad seeds? 2. People give you moey for a membership that may give them votig rights or special prices or maybe just a good feelig. With memberships, give optios. $10 per idividual / $18 per family / $35 for patros. 3. People give you moey ad you give them a experiece (talet show / motivatioal speaker / art show ad cake auctio). Experieces are our favorite kids of fudraisers. They get people ivolved. They build commuity. People remember the talet show where the 2d graders did Tai Chi log after the magazies are goe. 4. People give you moey ad you give them goods of some kid (cookie dough / gift wrap / popcor / bulbs). Sellig stuff is still the way most groups raise fuds. If reveues were off last year, try a differet product or a differet time of year. We like to share the secret of oe very successful Girl Scout mom who coutered objectios of we re cuttig back o sugary foods with a offer otes Sellig stuff is still the way most groups raise fuds. 18

19 I eed to raise how much??!! to doate the cookies to the local food bak o the purchaser s behalf. Just give her the moey. She takes care of the rest. You ever eve lay eyes o the cookies. Now that s smart. More tips from professioals: Mix it up. Make it easy for people to give you moey. Give them lots of optios. Have a look at what worked last year. Build o your successes. Look at the et, ot the gross. The auctio may brig i $20,000 but it will cost you $12,000 to ru it. The jog-a-tho brigs i $10,000 ad costs just $1,000 to ru. It s what you get to keep that couts. Always, always, always take ito accout the amout of voluteer effort required. Write dow your best ideas. Add it all up. Are you i the ballpark? otes Make it easy for people to give you moey. 19

20 Behold the balacig act Behold the balacig act Look at the two lists: icome ad expeses. If your expeses outweigh your icome, you probably kow the two alteratives: cut back o your expeses or icrease your icome. Which will better serve your membership? Ca you: apply for a grat? icrease dues? add aother fudraiser? fid a fudraiser with better margis? elimiate or reduce the scope of a particular activity? make some activities cotiget o adequate resources? (i.e. if we et more tha $12,000 i the magazie drive, the use the extra moey for a assembly) ask participats to cotribute toward a activity? request more voluteer time or effort? leave less moey i the kitty for ext year? If your icome outweighs your expeses, you also have decisios to make. Do you cut back o fudraisig ad give your voluteers a otes If your icome outweighs expeses, or vice versa, you have decisios to make. 20

21 Behold the balacig act break? Or do you raise the bar ad provide more services this year? Note that the third optio, ru the fudraisers ayway ad put the extra moey i the bak, is ot oe we would recommed uless you have a high-ticket log-term project i the works. Our fial advice here is: keep your visio i mid. Make decisios that are i lie with the values of your group. Stickig to it Cogratulatios! You made it. If you are lucky ad have bee diliget you will have i frot of you a budget that is workable ad has buy i from your team. You ca use it as a road map to help you achieve your goals this year. Now the bad ews. That budget is just a buch of umbers o a piece of paper. This is where the real work starts. Your budget is like a set of dumb bells it does t do you ay good just sittig o the shelf. Make sure that you moitor your actual results agaist your budget o a regular basis at least mothly. Note what is workig, what is t, ad what eeds your immediate attetio. Make this part of your regular routie as you prepare for your board meetig ad make sure to iterpret the results for those members who are t as comfortable with umbers as you are. For example: Yes I kow that we spet less o the pizza dough fudraiser tha we plaed but we otes Make decisios that are i lie with the values of your group. 21

22 Stickig to it also brought i a lot less that we hoped to. So overall we are $500 short of our goal. If we do t fid a way to make that up we will have to drop oe of the assemblies we have plaed for the sprig. It s just a buch of umbers util you give them meaig. Good practices to start & thigs to avoid Cosider doig this: Keep otes for ext year s treasurer. At the begiig of the year set up your otebook with oe piece of paper for each activity o your budget. Write otes as the year goes by about what worked ad what did t. It does t eed to be facy. Your thoughts at the time jotted dow o a piece of paper that is easily foud will be worth much more tha a carefully worded summary you write at the ed of the year. Just thik how helpful it would have bee if you had had otes like this as you were preparig your budget. For activities that have both icome ad expeses, for example just about every fudraiser, be sure to come up with a budget for both icome ad expeses. For example we hope to brig i $4,000 with the pizza dough fudraiser ad we expect to sped$2,100, therefore ettig $1,900. If all you do is budget $1,900 et icome, the all of these situatios would seem to be OK: otes It s just a buch of umbers util you give them meaig. 22

23 Good practices to start & thigs to avoid Actual icome $4,000. Expeses $2,100. Net $1,900. Actual icome $5,000. Expeses $3,100. Net $1,900. Actual icome $2,400. Expeses $500. Net $1,900. I reality these are vastly differet results ad worth careful examiatio. But you would oly kow that if you had both icome ad expese budgets to compare agaist. Cosider ot doig this: Those of us who are destied to be treasurers sometimes feel a eed to be perfect. Now a little bit of that ca work to our advatage obviously we wat all the moey to be accouted for ad allocated to the appropriate activity. But i our opiio this perfectioism eeds to stop at amedig your budget to match your actual results. Really? What possible good ca this do? You re ot tryig to prove your psychic ability here. Those who follow you will get much more out of kowig that you had budgeted $2,000 i doatios ad oly received $500. Was the appeal badly hadled? Was the ecoomy to blame? Was it the wrog time of year? If you blithely amed that budget to $500 they have o iformatio, o clues that somethig did t go as plaed ad perhaps eeds scrutiy for ext year. otes Those of us who are destied to be treasurers sometimes feel a eed to be perfect. 23

24 You Need Isurace. Period. You Need Isurace. Period. These days, o oe should agree to sit o a oprofit board that does t have adequate isurace coverage. Not much more to say here. If you are o a board that has isurace coverage, make sure paymets are up-to-date ad that it provides adequate coverage as discussed below: Choosig Isurace Coverage We believe that isurace is a top priority for oprofit orgaizatios ad should ever be a afterthought i the plaig process. Here are the 5 most commo types of isurace coverages you ll wat to cosider: Geeral Liability Isurace policies address claims allegig bodily ijury or property damage. Slips, trips ad falls are the most commo claims covered by these policies. Bodig Isurace (also kow as Fidelity Isurace) protects agaist the fiacial risks of fraud ad embezzlemet by a isider. Accidet Medical Isurace helps to avoid lawsuits ad provides isurace coverage for out-of-pocket medical expeses resultig from a accidet at a sposored activity or covered evet. Directors ad Officers (D&O) policies are purchased i order to otes We believe that isurace is a top priority for oprofit orgaizatios. 24

25 The Fiacial Review (aka Audit): The Board s Other Best Fried protect both the orgaizatio ad its directors ad officers. They address claims allegig wrogful maagemet decisios by the voluteer ad staff leaders of a oprofit. Property Isurace protects the physical assets your oprofit ows such as computer ad office equipmet, computers, popcor machies, etc. Note: If you require Property Isurace at your voluteer-ru oprofit, cosider doatig your property to the overarchig etity you might be servig. For istace, if you re a PTA ad ow a popcor machie, cosider giftig it to the school district with the caveat that it s to stay at the locatio of your choice. Put it i writig so you are ot resposible for future claims that may occur. Puttig it i writig as directed above will also esure that the popcor machie stays o your campus. If your board does ot curretly have isurace coverage, make it your first priority! If your board declies to get isurace coverage (commo excuses: do t eed, too expesive, too much trouble), resig. Right ow. Before somethig happes that you may fid yourself fiacially resposible for. otes If your board does ot curretly have isurace coverage, make it your first priority! 25

26 20 Sample Budget Budget Name: Sample Budget Budget Start Date: July 1, 2012 Budgeted I Budgeted Out Net (Icome) (Expeses) (Differece) Fudraisig Fall Fudraiser $ 6,000 $ 3,000 $ 3,000 Auctio $ 12,000 $ 2,000 $ 10,000 Sprig Fudraiser $ 4,000 $ 2,000 $ 2,000 Total $ 22,000 $ 7,000 $ 15,000 Curriculum Assemblies, Programs $ 0 $ 1,000 - $ 1000 Math/Sciece Olympiad $ 0 $ $ 600 Total $ 0 $ 1,600 - $ 1,600 Admiistratio Postage $ 0 $ $ 250 PO Box Retal $ 0 $ 55 - $ 55 Photocopyig $ 0 $ $ 120 Isurace $ 0 $ $ 350 Treasurer Software $ 0 $ $ 160 Total $ 0 $ $ 935 Grad Total $ 22, 000 $ 9, 535 $ 12,465 26

27 Our shamless plug for MoeyMider What better way to get yourself orgaized tha with software desiged for small voluteer-ru oprofits? How is MoeyMider Differet? For a small o-profit, QuickBooks ca be overkill. But spreadsheets ca cotai hidde formula errors too easy to overlook. Oe is too big, oe is too risky. The there s MoeyMider, accurate but ot cumbersome, it s just right. The Solutio You Ca t Afford NOT to Use Get a customized accout for your group s specific eeds. Icludig free activatio, free updates, free support, ulimited multi-user access, daily backups, trasparecy i your books which ca reduce the risk of fraud, easy trasitio to the ext board, aytime, aywhere access, peace of mid, ad believe it or ot, eve more. FIND OUT WHY EVERYONE IS TALKING FREE TRIAL (866) NoProfit Cetral Ic. This work is copyright protected. You may copy, display, prit ad reproduce this material i ualtered form oly (retaiig this otice) for your persoal, o-commercial use or use withi your orgaizatio. All other rights are reserved. Requests ad iquiries cocerig reproductio ad rights should be addressed to: 3111 Newmarket Street, Belligham, WA 98226, (360) LIMIT OF LIABILITY/DISCLAIMER OF WARRANTY: Author ad publisher have used their best efforts i preparig this booklet. NoProfit Cetral Ic. ad author make o represetatios or warraties with respect to the accuracy or completeess of the cotets of this booklet. The accuracy ad completeess of the iformatio provided herei ad the opiios stated herei are ot guarateed or warrated to produce ay particular results, ad the advice ad strategies cotaied herei may ot be suitable for every idividual or etity. Neither NoProfit Cetral Ic. or the author shall be liable for ay loss of profit or ay other commercial damages, icludig but ot limited to special, icidetal, cosequetial, or other damages.