Monitoring Budget Goals

Monitoring Budget Goals

Sometimes things happen that we cannot predict or have control over that negatively impacts our budget. Consequently, monitoring budget goals on a quarterly basis is most common. If a quarterly budget goal is off (less than 20%) of its’ intended target, modifications and corrective action is generally needed. Discuss what modifications and corrective action you would make if your budget was 20% less than projected for quarter 2 of a fiscal year. Make sure to provide rationale. 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