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Charity Digital – Key Areas of Cost Budgeting, March 2022

National newscaster Charity Digital has produced guidance that examines three main areas of cost budgeting, offering advice to make the processes easier and reducing any financial risk.

A cost budget is a resource that people can use to estimate and plan business costs, it’s also seen as a tool that can help managers or business leaders investigate or keep track of their expenses.

The process involves calculating every cost that could be expected for a given period, and just like a business executive or a financial professional that would use cost budgeting when a budget is being planned for the next season or year, so too can a charity manager use cost budgeting when planning for a new project, offer a new service or similar enterprise.

But how do you go about producing such a budget? And what are the factors or aspects you should consider when creating one?

Newscaster Charity Digital are looking to address through their video that examines this subject. From the main budget areas that charities should consider, through to how charities can track these costs, their recent YouTube video offers budgeting techniques that could help reduce a charities costs, increase profitability and plan their next project efficiently.

More information is available at the Charity Digital website.

As well as offering access their existing Funding & Marketing Club (currently FREE for all members), MVA can also offer simple advice on Governance and Funding. Tailored to fit your needs, this limited service can cover areas such as cost budgeting. To find out more about the Club, or about the guidance service, Call MVA on 01634 812 850.