Check Your Budget Blind Spots

If you only look directly ahead while planning next year’s expenses and revenue, you’ll miss what’s running alongside you or gaining from behind. And staffers sometimes ignore red flags. Being candid about the numbers and setting up guardrails can improve the process and the outcome.

Budgeting is a necessary part of an association’s life, but it also involves reconciling an inherent contradiction: trying to predict the future, and then attaching hard numbers to the prediction. Add to that challenge department managers who have ample expertise in their disciplines but who aren’t necessarily association finance wizards, and it’s no surprise that budgeting becomes a headache for many organizations.

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By Mark Athitakis, Associations Now