BUDGET PLANNING & APPROVAL NGO
Budget Planning: All departments and project leads are required to submit recommended budgets based on their planned activities and objectives at the start of each fiscal year. Comprehensive estimates of projected expenses and predicted financing sources should be included in these submissions. In order to ensure alignment with the NGO’s strategic goals and available resources, the Finance Officer will compile these into a draft organizational budget.
Review and Revision: The Finance Committee will examine the draft budget and may ask for changes or clarifications to guarantee both programming relevance and financial viability. The committee takes donor constraints into account, assesses how well planned expenses and income match, and makes sure administrative costs stay within reasonable bounds. The Board of Directors is shown the revised budget once it has been revised.
Approval and Implementation: Before any money is pledged or spent, the Board of Directors must formally approve the final budget. The budget serves as the organization’s formal financial guide after it is adopted. The Board or other appropriate authorities must give their prior consent for any major deviations or reallocation made during the year, along with written justifications.
Author: Mohamed Yasin
