A strong VFW Post annual budget consists of four basic parts: income sources, expense categories, timing (when money comes in and goes out), and targets or goals. To create an effective budget, leaders should create a simple 'Money In / Money Out' worksheet using last year's real numbers or estimates, highlight any income or expense where they're guessing (indicating areas to tighten up), and set one clear goal such as ending the year with one month of Post expenses in reserve.
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Strong VFW Post Annual Budget: 4 Key Parts, Simple Steps, and Convention PrepAdded:
[music] >> Let's talk about what a strong post annual budget actually includes. A good budget has four basic parts: income sources, expense categories, timing when money comes in and goes out, and targets or goals. Here's some tangible steps you can take. Print a blank piece of paper and split it into two columns, money in and money out. Fill it with real numbers or estimates from last year.
Highlight any income or expense where you're guessing. Those are the places we'll tighten up at the workshop. Set one simple goal like "End the year with one month of expenses in reserve." At the convention, we'll walk through a sample post budget and I'll give you a basic template you can plug your numbers into as soon as you get home. If you want to share what you're currently using or ask if it's on the right track, you can email a copy of your questions to [email protected] and the team can help point you in the right direction.
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