money

Cost Cutting and Making Ends Meet

Engage all your staff in looking for solutions... 

If as is usually the case, there is a shortfall between what you forecast you can earn and what you need to spend in the coming year, you have to find ways of closing the gap. If you can raise more income, well and good, but note if that has associated costs and provide for them in the expenditure part of the budget.

Efficient Financial Planning

If you can tighten up on your debtors and manage your creditors better, you may be able to release some extra cash in the organisation.... 

Some Simple Rules...

Some people are paid monthly and organise their own finances to pay the big bills – credit card and mortgage just after the salary cheque comes in.

Financial Responsibilities

 Keeping detailed records, on receipt, of all monies received...

Each organisation has significant financial responsibilities that must be taken seriously. These include:

Basics of Accounting

There should be no surprises for you in the final year accounts.... 

Why keep accounts and what accounts to keep?

Once you collect money for a cause, you know it is not yours to do what you wish with, to spend on treats or food and clothing, lose behind the sofa or invest in a horse race...you need to treat the donated money with care and be able to account for what you got and what you did with it.

Budgeting

Find out as much as you can about what is to happen and use your judgement as an organisation to work out a best case and a worst case scenario... 

In good times, you may have paid relatively little attention to budgeting or to monitoring outcomes against budgets and available resources, apart from project budgets and outcomes that y

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