As an office manager or administrative assistant, you know the ins-and-outs of your department/program like nobody else — and that makes you the perfect person to put together your budget. Your director is counting on you to prepare a realistic budget that he or she can approve with few or no changes and present to tribal council or to funders. Are you ready to step up to the challenge?
Preparing a successful budget for a tribe is as much an art as it is a science. In this important class you’ll learn how to compile the data and present it to your audience effectively. We’ll help you understand which financial documents you need to analyze and where to get them, how to watch for trends in your department, what cuff accounting is and how to use it effectively, and how to monitor a budget and handle budget variance, in addition to walking you step-by-step through how to actually assemble the budget. You’ll get plenty of hands-on practice budgeting for different circumstances and situations, experience reading revenue and expenditure reports, and guidance on dissecting general ledger transaction lists line by line. Plus you’ll learn how to prepare a compelling budget presentation or narrative that’s easy for funders, program/department directors and tribal council to understand.
Budgeting is about more than just crunching numbers. Become a budgeting artist —- sign up for this important class today! Bring a copy of last year’s budget and Revenue and Expense Reports for assistance in how to create this year’s budget. Sample budgets will be provided as well.
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Overview of the Budgeting Process
- Why budgeting is so important
- Impact on the tribe
- How it helps tribal leaders
- Phases of the budget cycle
- The budget calendar
- Key players
- Why understanding indirect costs is so crucial
Understanding Financial Documents
- Revenue and expenditure Reports
- General ledger transaction lists
- Budget worksheets
- Accounting system reports
How to Read a Budget
- Basic components of the budget
- Where to start
- Important things to look out for
- Identifying historical trends
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Hands-on Practice Creating Sample Budgets
- Personnel budgets
- Program budgets
- Budgeting under different scenarios and circumstances
- Incorporating indirect costs
Cuff Accounting and Budgeting
- Setting up cuff accounts with formulas
- Reading expenditure reports
- Comparing reports to cuff accounts
Budgeting with the Big Picture in Mind
- Tribe’s strategic plan
- Departmental/program goals and objectives
- What to do when there’s no clear guidance
- Deciding on your budgets objectives:
- Providing structure
- Allocating resources
- Predicting cash flow
- Modelling different scenarios
- Measuring performance/setting benchmarks
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Presenting Your Budget Effectively
- Understanding your audience
- Preparing a budget narrative
- Creating descriptive charts and graphs
- Anticipating questions from council/directors
- Explaining the numbers in common language
- Using “real” examples
- Tying the budget to goals and objectives
- Using historical data
- Including contingency plans
- Showing how the budget will be monitored
Maintaining a Budget
- Addressing budget variances
- Monitoring expenditures
- Taking corrective action
*Topics subject to change. |
