Reviewing Finances
Step 1: Review current financial situation.
- Income: confirmed donations, events, and other revenue.
- Expenses: fixed (rent, utilities, salaries) + variable (travel, fundraising, ministry program costs).
Step 2: Assess needs for the next 12 months.
- Expansion of programs.
- New initiatives.
- Growing the team.
- Covering shortfalls in operations.
Example:
- The Ministry has £50,000 in the bank.
- Annual expenses = £80,000 → shortfall of £30,000.
- An additional £15,000 is needed to expand two outreach programs.