How to Set a Church Budget in Excel
Churches always have this principle that they are being provided with resources in times of need. While it's best to always have faith, it's important for the church heads to do our part. As the saying goes, "God has the mercy, people have the doing." To properly handle the church's resources, a budget should be created. Learn how to make one in Microsoft Excel by going through our guidelines below.
1. Define the Church's Goals
Start the budget right by first setting the goals of your church. These will influence the choices you will be making for this budget plan. For one thing, your church is constantly receiving income and already has expenditures laid out. Prioritize these expenditures and decide which goals need to be met first.
2. Determine the Church's Financial Status
Churches are nonprofit organizations, and their funds greatly depend on the offering or donations they receive from the churchgoers. Other sources of their income include solicitations, sponsorship from other organizations, and fundraising activities. Determine the sources and how much the church receives from each source. This will serve as the church's income and determine the amount to be budgeted.
3. Allocate the Resources
Previously, you prioritized the different expenditures and determined which ones needed the most attention. If you have done so, allocate your resources among those expenditures beginning with the ones that are considered a priority. Make sure not to consume all the church's resources, leave some for emergency purposes.
4. Never Settle For Less
Being overly comfortable is not good when handling financial matters. All efforts have to be exerted to make sure that the budget is created properly. Set realistic and attainable goals based on the resources available, and double your efforts in conducting fundraising activities.
What is a church budget?
A church budget is a written document that serves to represent the church’s allocation of its resources. It accounts for the resources that come in and goes out from the church’s funds. Creating this will help the church in managing its resources for future purposes.
What does it mean to create a budget?
Creating a budget is just like creating a financial plan. It gives importance to how the church should spend its resources. Creating a budget will help determine in advance whether the church has enough resources for its projects or activities.
What are the objectives of budgeting?
- To set future goals.
- To strategize how to attain goals.
- To create a comparison between the expected amount of the expenditures and the actual amount paid.
Why does the church need to create a budget?
The church needs to create a budget because it is important for them to take care of what has been entrusted to them. It is part of the church's responsibilities to properly manage all its resources because it will benefit not only themselves but also the community.
What are the benefits of budgeting?
- It keeps your financial goals on track.
- It will help you in controlling your expenses.
- It will help make room for savings.
- It prepares you for unexpected expenses.
- It allows you to make investments.