Forecasting Disscussion

Forecasting

Forecasting is a very difficult part of budgeting. Discuss what sources of data (e.g., cost of living, inflation, housing market changes, unemployment rates, federal loan interest rates, gross domestic product changes, etc.) would you use to help forecast budget changes for year 2+? Provide rationale for your choice(s). Your initial post should be at least 400 words.

Resources

Readings

1. Textbook
Dropkin, M., Halpin, J., & LaTouche, B. (2007). The budget-building book for nonprofits (2nd ed.). Jossey-Bass.
Chapter 20: Presenting Your Annual Budget Proposal to the Board
Chapter 21: Board Review, Revision, and Approval of the Final Budget

2. Website:
Tuck, A., (2011, February 9). Succeeding Through Tough Times. The Bridgespan Group. Retrieved from http://www.bridgespan.org/Publications-and-Tools/Strategy-Development/Managing-in-Tough-Times/Succeeding-Through-Tough-Times.aspx#.UTZphNZOTmd