Page 19 - Finances for Non-Finance People

BUDGET CYCLE

• Budget Implementation: Nonprofits then put the budget into action by

allocating resources to various programs, services, and activities. This involves

monitoring expenses and revenues throughout the year and making

adjustments as needed.

• Budget Evaluation: At the end of the budget cycle, nonprofits evaluate their

financial performance and compare it to the budget. This helps them

identify areas of strength and weakness and make improvements for the

next budget cycle.