A Five-Step Guide to Budget Development - Wallace …

A Five-Step Guide to Budget Development

Hilda Polanco, Founder and CEO John Summers, Director

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All material herein ? 2015 Fiscal Management Associates, LLC. All rights reserved.

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1. Assemble a budget team 2. Create a budget calendar 3. Prepare for budget process 4. Build the budget 5. Monitor the budget

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Chief Executive Officer (CEO)

Program and Department Managers

Chief Financial Officer (CFO)

with finance staff

Human Resources

Director

Development Director

Board Treasurer, Finance Committee

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Download: Fiscal Management Activities Calendar

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? Set financial goals ? Gather data and build budget template ? Forecast current year results ? Conduct team kickoff meeting

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? Budget expenses ? Budget revenues and plan alternate scenarios ? Forecast cash flow ? Secure board approval

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Download: Program-Based Budget Builder

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