As a consultant, I’ve spent many hours on the technical aspects of budgeting. I’ve designed models, developed spreadsheets, downloaded and uploaded data, and of course, written lots of financial statements.
I’ve also budgeted for my own business as well as other companies where I’ve worked. So, I know something about budgets.
But, recently, in my volunteer position as treasurer of my local Y, I’ve been thinking about how a nonprofit board should approve a budget.