Budget-Building Book for Nonprofits: A Step-by-Step Guide for Managers and Boards
This best-selling nuts-and-bolts workbook, now in its second edition, has become the gold standard for nonprofit managers and boards who must work through the budget cycle. The book offers practical tools and guidance for completing each step of the budgeting process. Designed to be comprehensive and easy to use, The Budget-Building Book for Nonprofits provides everything budgeters and nonfinancial managers need to prepare, approve, and implement their own budgets.\ Includes new chapters on...
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This best-selling nuts-and-bolts workbook, now in its second edition, has become a must-have resource for nonprofit managers and boards who are required to work through the budget cycle. The book offers practical tools for completing each step of the budgeting process. Designed to be comprehensive and easy to use, the second edition of The Budget-Building Book for Nonprofits provides everything budgeters and nonfinancial managers need to prepare, approve, and implement their own budgets. The Budget-Building Book for Nonprofits addresses the importance of budgets and budgeting, discusses basic types of nonprofit budgets, and outlines budget implementation, tracking, and reporting. In addition to updating the broad range of material, this second edition contains new information on such timely topics as zero-based budgeting and capital budgeting. New to this edition is a CD containing the CMS Nonprofit Budget Builder Software as well as electronic versions of the worksheets and exhibits to guide you through all stages of building a solid budget.Praise for the First Edition "This is a book every nonprofit needs." —Peter F. Drucker"Provides clarity, strategy, and utility to the financial and asset management of social-sector organizations." —Frances Hesselbein"This book is clear, insightful, and required reading for all who are responsible for the success of not-for-profits. If you work for or run a not-for-profit agency, you should read this book." —Peter Block, author, Flawless Consulting and The Empowered Manager"The Budget-Building Book for Nonprofits is a definitive and practical guide to the art of budgeting. It is well-written and reliable, as well as easily understandable." —Ronald J. Werthman, vice president, finance/treasurer and CFO, Johns Hopkins Health System, The Johns Hopkins HospitalPraise for the Second Edition "This book is the gold standard for providing executive managers with information essential to making the best decisions for their organizations, and will give the confidence in their fiscal systems needed in the competitive world of nonprofit management." —Don Sykes, former director, the Office of Community Services for the Clinton Administration, and president, Community Development Solutions "Written in clear language easily understood by the layman, this book contains guidance on both proper procedures and the real-world challenges of getting the organization to adopt them. The worksheets and sample forms alone are worth the price."—Elizabeth Rosen, retired chief financial and systems officer, The Morgan Library and Museum
UNDERSTANDING BUDGETING BASICS.Why Budgets and Budgeting Are Important to Nonprofits.Understanding Basic Types of Nonprofit Budgets: Overview.Key Board and Staff Roles and Responsibilities in Nonprofit Budgeting.Establishing Budget Guidelines, Priorities and Goals.How Different Sources and Types of Income Can Affect Budgeting.Strategies for Developing Organizationwide Operating Budgets.STEP-BY-STEP BUDGETING GUIDELINES.Start with the Budget-Building Checklist.Designing Your Budgeting Policies and Procedures.Creating Your Budgeting CalAndar.Orienting Program and Department Managers to Budgeting.Contents of the Annual Budget Preparation Package.Developing Organizationwide Operating Budgets.Developing Operating Budgets for Individual Programs, Units, or Activities.Major Components of Operating Budgets.Estimating Income and Expenses.Allocating Administrative, Overhead and Shared Costs.Revising Draft Operating Budgets.Presenting Your Annual Budget Proposal to the Board.Board Review, Revision, and Approval of the Final Budget.Monitoring and Modifying Approved Budgets.Using Your Budget.PRACTICAL BUDGETING RESOURCES.Appendix A. Blank Master for Creating a Program/Unit Work Plan.Appendix B. Sample Blank Budget Formats.Appendix C. Examples of Financial Reports for Analyzing and Monitoring Income and Expenses.Appendix D. Tools for Analyzing Financial Reports and Planning Corrective Action.Appendix E. Example of a Detailed Organizationwide Budget.Appendix F. Miscellaneous Budgeting Checklists and Examples.
