Making Money Work For Your Team

1
Making Money Work For Your Team
Tackling The Budget

Finding Funds On Campus
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Tackling Your Budget

• Budgets are not scary!
• Dont be overwhelmed!

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Tackling Your Budget
THE BASICS

• A budget is as simple as revenues and expenses,
  so get those together!
• Expenses include any item you have to pay for
  such as utilities (water, electric, etc.),
  inventory, office expenses (phone, mail postage,
  etc.) and whatever else!
• Revenues are any money you generate in sales or
  fundraising. This is not the same as profit!
  Dont count any money you are hoping for! Only
  count actualities.

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Tackling Your Budget
GETTING STARTED
Come up with your offensive strategy or game plan
for the current year-

• Look over your past years budget, this may help
  out in forming this years budget!
• If you know you have less of a budget this year,
  find places you can cut expenses or increase
  revenues.
• When you have a clear idea of what your budget
  should look like, you can form a preliminary
  budget!

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Tackling Your Budget
THE PRELIMINARY BUDGET

• This is the first draft of your budget.
• It is based on your opinions and assumptions of
  how the year will go.
• It does not represent exactly what your budget
  will look like at the end of the year! Many
  things can happen throughout the year, so dont
  be afraid to make changes!

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Tackling Your Budget
SAMPLE BUDGET

• See handout.
• You can break up expenses by category, either
  way, all expenses must have a description (i.e.
  office supplies, basic phone, long distance,
  printing, etc.)
• If you have more than one account that you pay
  expenses out of, list all of them and give each a
  specific amount. Total each code and then have an
  entire total expense amount after all expenses
  are recorded.
• Revenues should also have a description such as
  Sales from Tee Shirts, or Revenues from Raffle
  Fundraisers.

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Tackling Your Budget
THE FINAL PLAY

• If your revenues are more than your expenses,
  you have profit and you scored the budget
  touchdown!
• If your expenses are more than your revenues,
  you will have to go into overtime to find ways to
  alter your budget!

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Finding Fund on Campu
FUNDING SOURCES

• Student Fee Committee
• Vending Committee
• Senate Allocations

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Where To Go For Help
FOR BUDGETS
If you are an SFC Unit, Club, or other
Organization

• Student Activities Office
• Vice President For Financial Affairs
• Accounts Payable Office In Inlow
• Andy Ashe EOU Budget Analyst

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Where To Go For Help
FOR BUDGETS
If you are just looking for personal help

• Online Sources
• http//money.cnn.com/magazines/moneymag/money101/l
  esson2/
• http//cgi.money.cnn.com/tools/instantbudget/insta
  ntbudget_101.jsp
• http//www.ehow.com/video_4439887_make-personal-bu
  dget.html
• http//www.youtube.com/watch?vzHrekZUm7h8feature
  PlayListp238310B25AB16188index0playnext1
• Talk with a member of the business faculty, or
  take a business class.
• Take AREC 211 which will teach you how to make a
  simple cash budget.