June
Budget, the word often conjures an aura of anxiety.
At best, many consider the task of creating and maintaining
the organizational budget a mystifying, somewhat magical,
mathematical experience. However, as queen of all nannies,
Mary Poppins, put it, “in every job that must
be done, there is an element of fun; you find the fun,
and, snap, the job’s a game.” For all their
moaning and groaning, many chief financial officers
(CFO) organization executives, and department heads
truly love the game. They enjoy thinking strategically
about income and expenses, presenting an accurate picture
of finances, and helping to create an environment that
promotes sustainable growth.
The trick is to spread that joy. The key element is
to have a clear, concise budget process that EVERYONE
understands both from an individual (what’s in
it for me) and an organizational (what’s in it
for all of us and our clients) perspective.
DON’T
- Underestimate staff ability to comprehend and
contribute to budget matters
- Play hide and seek with financial data when it’s
inappropriate to do so
- Overwhelm staff with incomprehensible jargon and
stats
DO
- Get input and buy-in from all levels of Board
and staff.
- Have the CFO or her/his designee train people
in a creative, bite-sized, meaningful way to do their
part to create and monitor a realistic but ambitious
budget.
- Regularly inform everyone of the status of the
budget to motivate them to
celebrate success and work harder to overcome obstacles
Everyone makes an investment in their organization
at some level. Capitalize on their investment with
a dynamic budget process.
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