HOW TO BUDGET FOR CONTINUING PROGRAMS
Preparing a budget for a program that is continuing is easier than creating one for a brand-new one. With an ongoing program, you can refer to the program’s prior fiscal history by reviewing the prior year’s revenues and expenses. With this information as a base, you can prepare a new budget for the following year.
First, let’s focus on the income portion of the budget. Looking at a program’s previous funding history, you should be able to make some reasonable estimates about whether such funding will continue and (ideally) increase or whether there are circumstances that may cause financial support to decrease. Consider whether new funding sources have been identified and whether new strategies will ...