budgeting stratgy

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Budgeting

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Page 1: Budgeting Stratgy

Budgeting

Page 2: Budgeting Stratgy

Why Budget?

Page 3: Budgeting Stratgy

A different view of

budgeting…

Page 4: Budgeting Stratgy

What does your LC Value?

Page 5: Budgeting Stratgy

What does your LC focus

on?

Page 6: Budgeting Stratgy

How can that reflect in your

budget?

Page 7: Budgeting Stratgy

Budgets should reflect

Values

Page 8: Budgeting Stratgy

Budgets should reflect

Focus

Page 9: Budgeting Stratgy

Budgets should tell a

Story

Page 10: Budgeting Stratgy

Making a Budget, part 1

0 Look at your revenue streams0 Exchange 0 Dues0 Sponsorships and Grants

0 Calculate the LCs’ revenue from each of these sources0 BE REALISTICALLY CONSERVATIVE

0 It’s always better to over-perform your budget, and dangerous to under-perform

Page 11: Budgeting Stratgy

Making a Budget, part 20 Find how much money you currently have 0 Determine how much you’re willing to spend (you shouldn’t

spend everything)0 Determine your LCs’ priorities and values 0 Allocate how much investment you’re willing to make in

each priority

Page 12: Budgeting Stratgy

Making a Budget, part 30 Look at your annual expenses (Investments)

0 Recruitments (Member and EP) 0 R&R, conference subsidies 0 OGX and ICX 0 Marketing 0 EwA

Based on your priorities, allocate how much money you’re willing to spend toward each of these expenses0 Divide all of your expenses and how much you intend to

spend into specific months

Page 13: Budgeting Stratgy

Making a Budget, part 4

0 Test your budget0 Do you have a positive balance at the end of every

month?0 If all of your investments fail, will you still have money?0 If you generate no revenue, what expenses will you cut?

Page 14: Budgeting Stratgy

Tracking the Budget0 Keep a record of all the revenues and expenses that

SHOULD be in your MC-managed LC account0 Look at what your LC actually earned and spent to see how

you’re performing against your predicted budget0 Use this opportunity to re-plan if needed

0 Kimmie does this monthly or at each point when a massive expense comes up

Page 15: Budgeting Stratgy

ROI

If I invest in something, how can I

make sure I get something out of it?

Page 16: Budgeting Stratgy

ROI

If I invest in something, how can I

make sure I get something out of it?

To Be Covered Later if Time Allows