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Re: Annual Budget



Charles provided some excellent information. I would suggest though that you
r 5 year plan be a rolling 5 year plan. It should not be static,
circumstances change thus affecting your plan. Each year should build upon
what was done in the previous year. This is especially useful if you are
trying to implement some type of capital purchase/program, it cuts it up
into easier bites.

Since you will be purchasing certain materials on a regular basis you might
run an analysis of your previous purchases and develop a projection for
future needs. Then go to your organization's purchasing department. Work
with them to develop a blanket purchase order agreement with some of your
major vendors. Your budget for supplies might be 10K, if you have a blanket
agreement all you have to do is issue a release against that PO rather than
issuing a PO each time you need something. This will allow you to obtain
discounts based upon anticipated purchases. The monies are encumbered etc.

Be sure to develop a spreadsheet for your plan that has graphs illustrating
the various numbers. The spreadsheet will also allow you to run 'what if'
scenarios. For example you had a budget of 50k last year not counting salary
and benefits. How would you divide up the 50K? oh and you anticipate a 5%
increase in funding, now how is it divided.

Budgeting and planning is such fun.


pak

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