Your organisation can secure funding and make the best use of available funds with good financial planning.
Short term planning
Planning ahead in the short term (12 months) can be done through a budget. It is important to monitor your budget on a monthly basis to keep it on track, and to make adjustments if you overspend or underspend.
Establishing a budget allows you to:
- know how much money is available at any given time
- know where money has been allocated at any given time
- map your expenditure for the year
- map your income for the year.
Long term planning
Planning ahead for the long term (three to five years) can be done through a financial plan.
A financial plan allows you to:
- set financial goals
- anticipate expenditure and income
- identify fundraising opportunities
- plan for future programs and events to determine how much money will be needed to support them
- analyse your goals or services to identify what grants you are eligible to apply for
- develop risk management strategies to manage funding shortages.
More information
On this site
Things to consider - volunteer costs
Resources for community organisations
Managing a community organisation
Frequently asked questions about community organisations
Other websites
Financial management and your group - Our Community
Free financial help sheets and resources - Our Community
Treasurer role training - small not-for-profits - Volunteering SA & NT