Preparing and managing a chapter operating budget helps leaders plan for and deliver products and services that meet member needs without exceeding the chapter’s financial resources. Utilize the
balance sheet template and
income statement template to compile information about the chapter's financial position.
Recommendations on How to Prepare a Budget:
• Develop a budget:
1. Assess the chapter's current financial position.
2. Review the chapter's goals and existing programs and services based on members’ needs.
3. Estimate revenue for the coming year.
4. Estimate expenses for the coming year.
5. Prepare budget worksheets for each program and administrative area.
6. Compile program and administrative budgets into an overall annual chapter budget. Use the
budget template if your chapter does not have an existing budget.
7. Have board approve final budget.
• Publish final budget in chapter newsletter or member mailing or make them electronically available to members.
• Review the budget at midyear (recommended) and make adjustments as necessary. Establish a reserve account for unexpected expenses.
Review examples from other chapters:
•
Baton Rouge Chapter's Budget Spreadsheet
• Nebraska Chapter’s Transparent Budget Reports:
Budget Template and
Expenses Reporting
•
Sample Association Financial Statement
