CHAPTER TREASURERS TRAINING

August, 19 2020

Abonni D. Anthony, MA, MBA University Advancement Business Officer

Powered by the Power House 6 (Office of Alumni Relations)

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Welcome/Housekeeping

Chapter Roll Call

Purpose of a Budget

Nonprofit Financial Management

Budget Process vs Document

Steps to Building Your Budget

Program Budgets and Allocations

Operations Budgets and Allocations

Budget Sample – Income

Budget Sample - Expense

Questions & Answers

Next Five Months’ Training

AGENDA

Agenda

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Budget Definition

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Purpose of a Budget?

A budget is a planning tool that reflects an organization’s

programs, mission, and strategic plan.

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Nonprofit Specifit Businesses

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Nonprofit Financial Management

Commitment to the Community

Fiduciary Responsibility

Dissolution of Assets

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It’s Not Just A Piece of Paper

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Budgeting Process vs Document

Guiding Financial Plan

Cash Flow and Expenses

Organizational Health

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How Do We Start?

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Steps to Building Your Budget

10 Steps Budgeting Process

1. Determine Your Timeline 6. Draft Income Budget

2. Agree on Goals/Programs 7. Review Full Draft Budget

3. Establish Current Financial Health 8. Submit Budget for Approval

4. Who Will Work on the Budget? 9. Document Budget Assumptions

5. Draft Expense Budget 10. Implement Budget

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Planned Activities – Might Be Restricted

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Program Budgets and Allocations

10 Steps Program Budgeting Process

1. Identify Programs for the Fiscal Year 6. Assign Indirect Costs

2. Review Last Year’s Expenses/Income 7. Determine Restricted vs Unrestricted

3. What are the Direct and Indirect Costs 8. Anticipate Fundraising / Sponsorships

4. Use Chart of Accounts to Allocate 9. Review Against Main Budget

5. Assign Direct Costs 10. Add Program Budget to Main Budget

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Regular Operations – Mostly Unrestricted

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Operations Budgets and Allocations

10 Steps Program Budgeting Process

1. Identify Operations for the Fiscal Year 6. Assign Indirect Costs

2. Review Last Year’s Expenses/Income 7. Determine Restricted vs Unrestricted

3. What are the Direct and Indirect Costs 8. Anticipate Membership Dues

4. Use Chart of Accounts to Allocate 9. Review Against Main Budget

5. Assign Direct Costs 10. Add Program Budget to Main Budget

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Income – The Money You Are Bringing In

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Budget Sample - Income

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Expenses-The Money You Are Paying Out

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Budget Sample - Expense

QUESTIONS & ANSWERS

alumnichapters@ncat.edu

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NEXT 4 MONTHS OF TREASURERS TRAINING

Subject Date

Scholarships 7-15-20

Annual Budgets 8-19-20

Month End Recs. 9-16-20

Non-Profit Income 10-21-20

Year End Reports 11-18-20

Acknowledgements 12-16-20

Next Training – Month End Reconciliations

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Dates are subject to change