Page 3 - Budgeting
P. 3
What is a budget?
A budget is management’s forecast of
revenues, expenses, and profits in the future.
A budget should:
Directly reflect organization’s mission, vision
& priorities
Chart a direction for allocating and
maximizing use of resources
Tend to history of finances and future
projections
Be tailored according to the scope & size
of program/project
Be compared to actual performance of
projects
Allows staff to isolate gaps/misdirected
funds
