D5000 PETS Budget Training 2013-2014 Don't tell me what you value, - - PowerPoint PPT Presentation

D5000 PETS

Budget Training 2013-2014

“Don't tell me what you value, show me your budget, and I'll tell you what you value.” ~ Joe Biden

The “B” Word

S The Budget is one of the single most important

management tools you have as Club President

S Consensus building among the members of the board, and

joint construction of the final budget is critical to its success

S Sticking to the budget is critical to YOUR success S Accountability and reporting to the entire membership on a

regular basis is an easy way to “alleviate the mystery”

The “F” Word

S Fundraising should be driven by the final budget of the club,

and not be the past practices of the organization

S After the desires of the club are established, and the budget

is developed, the fundraising needs of the club should be addressed in total

S Leaving the club better that you found it should be the top

priority of every President

Analyze

S Survey Members – What do they want?

S Are the budget priorities in line with the club needs? S What makes your club members feel “connected”?

S Ask Questions

S Are the “same old projects” the best projects? S What are you focused on locally? S What are you focused on internationally? S Are the projects sustainable?

S Review Historical Averages for Avenue of Service

S IE: Community Service: 20%, International Service 20%

Strategic Planning

S Set a timeline – NOW S Visioning Meeting – 3 Year Plan – Goals & Benchmarks

S Membership Growth S Foundation Growth S Projects – Local and International

S Operational Planning – What does it really take to run the club? S Sample Timeline:

S April 1, Strategic Planning/Retreat S May 1, Preliminary Budget S May 15, Final Planning S June 1, Final Budget

Zero Based Budgeting

S Act like this budget it’s the first budget – throw all of the old

thinking OUT THE WINDOW!

S Gather the “requests” of the committee chairs S Compile the requests and publish the “roll-ups” or versions to the

board of directors – this will assist them in understanding the necessary changes (reductions) that need to be made

S Run fundraising scenarios based on the preliminary budget roll-

ups

S Don’t forget: This is YOUR budget – and YOUR year

Expense Example:

Balance Forward: $10,000 Meals Expense: $72,000 53.53% Operational Need: $35,000 26.02% Club Service Request: $1,000 0.74% International Service Request: $15,000 11.15% Community Service Request: $5,000 3.72% Vocational Service Request: $1,000 0.74% New Generations Request: $2,500 1.86% Membership Request: $2,000 1.49% Public Relations Request: $1,000 0.74% TOTAL Preliminary Expense: $134,500 100% Less Balance Forward: $124,500

(Net) Income Example:

Preliminary Expense Needs: $124,500 Dues & Income (local): $30,000 Meals Compensation: $72,000 Fundraiser Net: $25,000 Happy Dollars & Misc: $5,000 Gifts & Other: $5,000 TOTAL Preliminary Income: $137,000 NET Balance Year End: $12,500 Last year Balance Forward: $10,000 Variance: $2,500

Monthly Dashboard Report:

Summary Page:

Monthly Dashboard Report:

Committee Page:

Monthly Dashboard Report:

Committee Page:

Conclusion:

S Make sure that the final budget is in line with the needs and

desires of the club members – it’s their money!

S Make sure that each of the committee chairs are

accountable to their area of the budget

S Report regularly to the membership on the financial health

• f the organization

It's clearly a budget. It's got a lot of numbers in it. ~ George W. Bush