Budgeting

About Budgeting

A well-constructed and monitored budget enables you to foresee potential financial deficits, adjust plans, activities and spending accordingly, as well as spend funds more cost-effectively. Budgets are used as a tool for planning and monitoring. More importantly, budgeting should be an ongoing process.

Types of budgets include:

  • Operating budgets identify expected expenses and revenue for the current fiscal year.
  • Cash flow budgets track how much money will be spent and received on a monthly basis.
  • Opportunity budgets analyze possibilities to expand and take advantage of new prospects.
  • Capital budgets evaluate the cost of long-term investments and projects.
  • Goal-based budgets are one part of a comprehensive sustainability planning process.

Key Information

  • The average statewide afterschool network’s budget is about $350,000 per year, while the median network’s budget is about $250,000 per year.
  • Networks that have incorporated as 501(c)(3) non-profits typically have larger budgets than other networks.
  • Many networks keep their budgets in more than one format in order to translate their financial information effectively for different audiences.

Strategies to Support Network Budgeting

  • Identify stakeholders.
  • Craft your budgeting policies and procedures.
  • Set a budget calendar.
  • Achieve consensus on results and strategies.
  • Project revenues and estimate expenses.
  • Analyze cash flow needs.
  • Approve and implement the budget.
     

General Publications

This strategy brief discusses four approaches that leaders of youth-serving nonprofit organizations can pursue to help support and strengthen their organizational capacity.
This report presents the findings of the literature review on costs and includes bibliographies of resources on costs and quality.

Network Publications

The 2010 annual report of the Michigan After-School Partnership.