management workshop series
2005 workshops
Workshop Details
Budget Management & Internal Operations: Empowering your Organization through Strong Financial Management
May 10, 2005
: —:
Speaker(s):
Many nonprofit arts organizations run on scarce resources which means that sound, informed financial management is critical to growing and sustaining a vital business.
This workshop will begin with discussion of the unique challenges presented by budget management in arts organizations. From there, the program will follow a chronological path of key topics as follows:
- The Board-approved budget
- Entering the budget into your chart of accounts
- Formatting an operating budget with comparables from the prior year
- Preparing timely reports for staff and Board
- Involving the staff in budget report review and internal communication
- Budget updates and mid-year corrections
Organizational tips for managing the flow of invoices, cash receipts, and payroll will be provided. We will also discuss how to make your year-end audit go smoothly by preparing for it all-year-long. There will be ample time to discuss specific problems attendees have as well as general Q & A.
Prerequisites: Basic ability to read and understand statements of income and expense, balance sheets and audited financial statements. Your organization must be computerized for budgets, bookkeeping and budget reporting.
Other Notes: This workshop is designed for financial managers and administrators of small to mid-size arts organizations with a budget size of under $100,000 up to $750,000.
Skill level needed to get the most benefit this workshop: Intermediate
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