By: Rachel Luoma, CAE
For me, January brings a fantastic time of year – new, fresh budgets! Budgeting is one of my favorite times of the year as it allows me to take an in-depth look at the financial operations of the association and better understand the story that the numbers are telling.
- Did we hit our projected income this year? If not, why? What needs to be adjusted or done differently next year?
- Did we stay within our budgeted expenses? If not, why? What needs to be adjusted or done differently next year?
- What was our net profit for operational income/expense? Did we meet budget? Why or why not?