Chapter 15. The Budget Bucket

CORE COMPETENCY #15
We operate with integrity and are accountable for best practices in our financial management. We mentor our team members so they understand the financial implications of our programs. We monitor our progress monthly.

RESOURCES IN THE BUDGET BUCKET

• WORKSHEET #15.1:  "Monthly Financial Reports Cover Page." When you change board treasurers, don't change your standard reports format.  Download this one-page table of contents cover sheet (Word document) for your monthly financial reports.
  
• REVIEW: Check out the membership requirements, financial best practices, books and resources from the Evangelical Council for Financial Accountability (ECFA). Every Christian nonprofit should have a copy of the Accounting and Financial Reporting Guide for Christian Ministries (2001 edition), available from the ECFA store.
  
• DISCUSS: Read Chapter 15 and discuss cash flow. "Pumpkin farmers understand cash flow."
  
• ORDER: Does your board have written investment policies? Order this excellent resource from BoardSource: Minding the Money: An Investment Guide for Nonprofit Board Members, by Robert P. Fry, Jr.
  
• READ: Order these books for your finance team and board finance committees: