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Budgeting
Why Budget?
A different view of
budgeting…
What does your LC Value?
What does your LC focus
on?
How can that reflect in your
budget?
Budgets should reflect
Values
Budgets should reflect
Focus
Budgets should tell a
Story
Making a Budget, part 1
0 Look at your revenue streams0 Exchange 0 Dues0 Sponsorships and Grants
0 Calculate the LCs’ revenue from each of these sources0 BE REALISTICALLY CONSERVATIVE
0 It’s always better to over-perform your budget, and dangerous to under-perform
Making a Budget, part 20 Find how much money you currently have 0 Determine how much you’re willing to spend (you shouldn’t
spend everything)0 Determine your LCs’ priorities and values 0 Allocate how much investment you’re willing to make in
each priority
Making a Budget, part 30 Look at your annual expenses (Investments)
0 Recruitments (Member and EP) 0 R&R, conference subsidies 0 OGX and ICX 0 Marketing 0 EwA
Based on your priorities, allocate how much money you’re willing to spend toward each of these expenses0 Divide all of your expenses and how much you intend to
spend into specific months
Making a Budget, part 4
0 Test your budget0 Do you have a positive balance at the end of every
month?0 If all of your investments fail, will you still have money?0 If you generate no revenue, what expenses will you cut?
Tracking the Budget0 Keep a record of all the revenues and expenses that
SHOULD be in your MC-managed LC account0 Look at what your LC actually earned and spent to see how
you’re performing against your predicted budget0 Use this opportunity to re-plan if needed
0 Kimmie does this monthly or at each point when a massive expense comes up
ROI
If I invest in something, how can I
make sure I get something out of it?
ROI
If I invest in something, how can I
make sure I get something out of it?
To Be Covered Later if Time Allows
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