BUDGETING BASICS

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BUDGETING BASICS
Civil Air Patrol 2010 National Conference Learning
Lab FM 03
Kim Neubauer Stacy Jackson
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Definitions of a Budget

• A list of planned expenses and revenues.
• A plan for saving and spending.
• A plan for future activities which later serves
  as a basis for evaluating actual performance.

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Reasons for Budgeting

• Required by CAPR 173-1, Para 9 (a) 4, Para 9 (b)
  8, Para 36 (d)
• Demonstrates accountability of donated resources.
• Plan for mission accomplishment.
• Control costs and maximize earnings.

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Budget Requirements

• Budgets must be balanced.
• Estimated revenues and estimated expenditures
  must equal.
• Budgets must be realistic.
• Goals must be attainable.
• Budgets must be reasonable.
• Plans must be in line with CAP objectives and
  missions.

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Creating a Budget

• Review past financial information.
• Consider future plans.
• Obtain financial input from all departments.
• Finance Committee consolidates all information
  into a financial plan.
• Upon approval, the plan becomes a budget.

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Region Budgeting

• Provide approved budget to NHQ no later than 1
  October each fiscal year.
• Budget revisions are recommended at least monthly
  to ensure solvency.
• Must be reviewed at least quarterly by the
  Finance Committee.
• All adjustments must be sent to NHQ/FMB for
  posting.

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Region Financials

• Profit Loss Reports and Balance Sheets are
  provided monthly.
• Budget to Actual Reports can be provided as often
  as requested.

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Wing Budgeting

• Input approved budget into QuickBooks no later
  than 1 October each fiscal year.
• Budget revisions are recommended at least monthly
  to ensure solvency.
• Must be reviewed at least quarterly by the
  Finance Committee.
• All changes to the budget must be input into
  QuickBooks.

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Wing Financials

• Profit Loss Reports and Balance Sheets can be
  pulled from QuickBooks as needed.
• Budget to Actual Reports can be run in QuickBooks
  as often as required.

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Unit Budgeting

• Provide approved budget to Wing HQ no later than
  1 October each fiscal year.
• Budget revisions are recommended at least monthly
  to ensure solvency.
• Must be reviewed at least quarterly by the
  Finance Committee.
• All adjustments must be sent to Wing HQ for
  posting to QuickBooks.

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Unit Financials

• Unit financial reports are required to be
  provided by the Wing monthly.
• Budget to Actual Reports can be run in QuickBooks
  and provided by the Wing as often as required.

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