Budgeting and Financial Health

SESSION OVERVIEW

Budgets are critical for not-for-profits regardless of size or mission. They provide the financial structure necessary to continue their mission and make a meaningful impact.

For NFPs, a budget is not just a financial tool but a roadmap that aligns resources with organisational goals. Understanding, implementing, and monitoring effective budget strategies is fundamental in the operational scope and financial health for NFPs.

In this session, Kathy Tung from Accounting For Good will explore a series of budgetary strategies specifically designed for NFPs to help you navigate your financial position over the financial year.

The session will cover:
• Key budget strategy elements
• Analysing information for setting an effective budget
• Monitoring performance against budget and understanding variances
• Key indicators of financial health

PRESENTER

Kathy Tung is Account Manager at Accounting for Good, an accounting firm specialising in not for profit accounting. Kathy is a qualified Chartered Accountant with CFO experience in both the not for profit sector and public practice. She is an experienced and trusted pair of hands – taking care of the technical details so that change makers feel supported to focus on doing the work that drives them. Her focus is on managing risks, stewarding clients through big decisions and streamlining processes to ensure reliable and useful information for clients. She has made an art form of using relatable analogies to demystify financial concepts. 

“I’m just so energised by the exciting things that people are doing out in the world and doing what I can to support them through that journey and empower them with their finances. When a client has that ‘Ah-hah!’ moment and all the pieces suddenly fall into place is so satisfying.”