Happy New Year!
Welp, welcome to 2025.
The first quarter of the millennia’s first century has now begun and what a whirlwind (to say the least)!
For some of you, this is the start of a new fiscal year. For some of you this is the beginning of the second half of the fiscal year. I hope you’re taking some moments to review where you’re at in comparison to your projections for the year, or getting ready to enact an already approved budget.
Here are a couple of tips to consider money wise :
If you’re midway through your year, and you find quite a few variances in your budget to actuals - consider an amended budget (if you haven’t already). This is an important step in demonstrating sound fiscal management and effective communication with your team and your funders. If you’re starting afresh with a new year, make sure all your key stakeholders inside your organization - not just your board - have a solid view into the totality of your budget. What are your budget values? What are the assumptions? What are hoping to accomplish with your spending this year?
If you’re midway through your year and you realize you’ve spent way faster than you anticipated (though it shouldn’t be a surprise), start revamping your projections and spending plans as soon as possible. Don’t delay! Getting ahead of your overages are critical to maintaining solid confidence in your leadership and in your care for those who rely on your budget. If you’re starting afresh and you found yourself at an unexpected deficit, no need to panic, just start your journey to right-sizing programming and the components that make up programming. Be brave. Stay encouraged. Ask for help!
Alrighty, that’s it for now. Check-in if you want to review your budget together or even if you just want a sounding board. Happy to help!
