Start with a Budget
Budgeting is an important planning tool and an integral part of program planning. A budget is a projection of income and expenses, and can be revised as plans change. Prepare a budget for your organization with expected income and expenses for the year.
Maintain Good Record Keeping
Create a system for reporting actual incomes and expenses throughout the year so the organization knows where they stand financially. Organizational financial records should be retained for a minimum of five years.
Assign a Leader
Leaders should elect a member to manage financial matters for the organization. A Treasurer or Financial Manager should maintain transactional records. All financial records for the organization should be transferred to the new individual responsible with each officer or administrative transition.