Budgeting

 

A budget is a plan for the next financial period (normally a year). A successful budget will capture the information about working capital needs linked to revenue and expenditure.

 

• Prepare an expenditure budget first by listing all your likely payments during the next year
• Assess your potential income from members and other regular revenue sources
• Assess likely grant income and make sure you apply for these grants in good time
• A capital expenditure budget is also required – identify your needs and how these will be funded