Lesson 4 – The Bottom Line

It is important to get your budget approved by stakeholders, such as your board, and communicate it to your team once it’s approved. Transparency in communication will help you win your team’s trust and also make them act responsibly, as everyone will be aware of the spending plan.

Appoint an in-charge or a committee to keep tabs on budget implementation. Ensure the process is supervised, and review your budget regularly, so it’s up to date at all times.

If spreadsheets and manual budgeting are too much for you, use nonprofit accounting software with budgeting to automate expense tracking.