Having a sound nonprofit budget is very essential. A sound budgeting process allows organizations to better manage their funds and provides greater transparency to funders.
However, creating a good budget comes with its challenges. We often see organizations delay their budgeting process due to a lack of resources and financial acumen. The lack of alignment between revenue recognition and cash flow also makes it harder for organizations to plan for the fiscal year which can lead to unnecessary surprises.
Budgeting and Forecasting for Nonprofits and Charities
This August, we partnered with Charity Village on the 'Budgeting and Forecasting for Nonprofits and Charities' webinar to chat about how nonprofit organizations can get started with creating a sound budgeting process, followed by a Q&A session.
During the webinar, we dived into:
- Importance of a budget for financial sustainability
- Budgeting roles and responsibilities
- Types of budgets
- When you should create your budget
- Steps for the annual budgeting process
- Best practices for creating a budget
If you missed out on our live webinar session, you can watch the webinar recording on-demand below. Enjoy!
At Enkel, we specialize in bookkeeping, payroll and more back-office services for non-profit organizations. Whether your organization is located in Vancouver, Edmonton, Calgary, or Toronto, we've got your bookkeeping needs covered! Contact us today to learn more.