Budget Guidelines 5 Key Tips to Developing Your Budget

Today’s Planner's Pointers will focus on Budget Guidelines -- 5 Key tips to developing your budget.


1. Know what your goals are for the event. If it is a fund raiser do you know how much money you want to make? What part of that money goal are you willing to give over to expenses? Having very clear goals helps keep you from being distracted.


2. Don't develop the budget in a cave. Brainstorm all the aspects for the meeting and what your expenses will be. Determine what are potential income items and what are expense items. Don't guess at what things cost, do research. If your price lists are more than a year old, then get new ones. Have committee chairs work with their members to determine what they will need to spend.


3. Have you done this event before? What were the expenses, especially the unexpected ones that occurred Review your history. Was the budget realistic? If this is a new event, have you done similar events? Review those former budgets to get ideas on expenses.


4. Share the budget will all stakeholders especially the aspects that directly apply to them. Supply guidelines. When you have client meetings, have it be one of the items on the agenda. If you are working with a committee, always report out on money both taken in and spent.


5. Have a system in place to pay non recurring bills. Check request forms, receipts are always a good idea.