Technology Planning: Non-Profit IT Budgeting

It’s that time of year when many of our clients are finalizing budgets for the next academic year. For those readers who are not involved in the budgeting process (and even if you are), here is some information on how it typically works.

In January or February, senior management or the CFO notifies department heads of the upcoming budget planning process and a tentative schedule.

Management begins developing budgets based on current year expenses, forecasted revenues (rising or falling revenues like student enrollment or fundraising dollars), and key strategic initiatives or projects.