Learning is enhanced when you take time to reflect on the process. This week, you will have a journal that asks you to discuss your thoughts in relation to the topic for the unit. Your reflection and writing will help with your understanding of the content covered.
Your response to this journal should be clear, concise, and organized. The expression of information must be well written and original, with few or no errors in format and mechanics.
Human services program funding fluctuates depending upon available resources. To prepare for fluctuations in financial resources, human services managers need to develop effective budgeting strategies. The Community Tool Box in your reading this week provides guidance for planning and writing an annual budget.
Please respond to the following questions:
1. What are some ways to respond to a deficit in the budget at the end of the fiscal year?
2. What are some ways to prepare in advance for budget shortfalls by cutting spending or increasing revenue?
A. Center for Community Health and Development, University of Kansas. (n.d.). Section 1. Planning and writing an annual budget. Community Tool Box. https://ctb.ku.edu/en/table-of-contents/finances/managing-finances/annual-budget/main
B. Fiscal Management Associates. (n.d.). Resources. https://fmaonline.net/nonprofit-financial-management/financialresources/
C. Nonprofitworks. (2018). Budget basics.https://www.nonprofitworks.com/wp-content/uploads/2018/04/Budget_Basics.pdf
D. Nonprofitworks. (2018). Budget planner. https://www.nonprofitworks.com/wp-content/uploads/2018/05/Budget_Planner.pdf
E. Nonprofitworks. (2018). Sample revenue projection. https://www.nonprofitworks.com/wp-content/uploads/2018/06/Sample-Revenue_Projection.pdf