Kim Neubauer & Stacy Jackson BUDGETING BASICS Civil Air Patrol 2010 National Conference Learning Lab FM 03 Kim Neubauer & Stacy Jackson

Definitions of a Budget A list of planned expenses and revenues. A plan for saving and spending. A plan for future activities which later serves as a basis for evaluating actual performance.

Reasons for Budgeting Required by CAPR 173-1, Para 9 (a) 4, Para 9 (b) 8, & Para 36 (d) Demonstrates accountability of donated resources. Plan for mission accomplishment. Control costs and maximize earnings.

Budget Requirements Budgets must be balanced. Estimated revenues and estimated expenditures must equal. Budgets must be realistic. Goals must be attainable. Budgets must be reasonable. Plans must be in line with CAP objectives and missions.

Creating a Budget Review past financial information. Consider future plans. Obtain financial input from all departments. Finance Committee consolidates all information into a financial plan. Upon approval, the plan becomes a budget.

Region Budgeting Provide approved budget to NHQ no later than 1 October each fiscal year. Budget revisions are recommended at least monthly to ensure solvency. Must be reviewed at least quarterly by the Finance Committee. All adjustments must be sent to NHQ/FMB for posting.

Region Financials Profit & Loss Reports and Balance Sheets are provided monthly. Budget to Actual Reports can be provided as often as requested.

Wing Budgeting Input approved budget into QuickBooks no later than 1 October each fiscal year. Budget revisions are recommended at least monthly to ensure solvency. Must be reviewed at least quarterly by the Finance Committee. All changes to the budget must be input into QuickBooks.

Wing Financials Profit & Loss Reports and Balance Sheets can be pulled from QuickBooks as needed. Budget to Actual Reports can be run in QuickBooks as often as required.

Unit Budgeting Provide approved budget to Wing HQ no later than 1 October each fiscal year. Budget revisions are recommended at least monthly to ensure solvency. Must be reviewed at least quarterly by the Finance Committee. All adjustments must be sent to Wing HQ for posting to QuickBooks.

Unit Financials Unit financial reports are required to be provided by the Wing monthly. Budget to Actual Reports can be run in QuickBooks and provided by the Wing as often as required.

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