Budgeting within associations presents unique challenges but it’s a crucial planning step that helps to ensure financial sustainability and mission effectiveness. Due to association’s reliance on membership fees and diverse revenue streams, associations must build a flexible financial plan that allows for variables.
Budgeting accurately helps association leaders plan for mission-critical programs and confirm that key initiatives are funded. A strong and fiscally accurate budget ensures that associations have the full financial picture when making business decisions and investments.
Below are the top 10 budgeting issues facing associations and simple ways to address them to keep your planning and goals on track.