How to Spend a Budget

Spending a Budget

• By nature, approved budgets are fixed. Approved budgets have allocated funds to specific tasks and/or areas of the project.

• as line items, they have to be spent accordingly.

Current major core funders.

• OSF

• Illuminate.

Restricted grants: restricted to be spent on certain projects.

1. Unrestricted grants: we’ve got an overall budget that shows how we intend to spend for 12 months across various internal projects.

2. Overall budgets: reviewed every quarter. Gives us an idea of how we spend the unrestricted grant.

3. Other sources for revenue projects, they get invoiced, and we aim to make a profit from those, in terms of where that money will go.

   1. As an org, we’d like to move to a place where profit from revenue projects can pay for core operating expenses, so core operating expenses don't get paid from grants.

1. Core Questions

• • Where does funding come from, and how do you decide where the money goes?

  • How do you prioritize where to allocate limited funds, for equally important things/tasks?