Lesson 3 – Budget Checklist

 

Checklist to Create Your Budget

  • Review current and prior year actual income and expenses
  • Budget must be split by program and department
  • Review grants
  • Review with program directors
  • Factor in new salary positions, cost of living increases (salaries), increases in overhead, additional program needs
  • Budgets should be balanced – Revenue and expenses are equal
  • Budget must be entered on a month to month basis to account for variables for time of year
  • Determine if your budget incorporates an allocation of indirect costs to programs
  • Must be approved by treasurer, finance committee, grantors and board of directors