Hi everyone,
I'm looking for advice or resources to help me better understand best practices for creating an annual operating budget. Specifically, I'd like to gain insights into:
- Expense Ratios: What are the appropriate ranges for key expense categories?
- Budgeting Formats: What kind are you using? How to effectively manage a functional budget versus an accounting budget?
My leadership prefers a functional budget format, where expenses are categorized by functions like stewardship, engagement and cultivation. However, for accounting purposes, we record expenses under categories like meals, supplies, etc.
We currently use Financial Edge, but I've struggled with custom fields and the budgeting feature, making reporting in this format cumbersome. I'm hoping to develop a more efficient solution for next year and would appreciate any advice or resources you can offer!
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Michele Whitaker
Baton Rouge Community College Foundation
[
whitakerm@mybrcc.edu]
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