How to make a budget

Running Head: MEMO 1

MEMO 2

Memo

Memo

TO: All Personnel

FROM: Your Manager

DATE: 10th October, 2018

SUBJECT: Budget Information

There are several projects that have been decided on which we can take up to enable us to meet the objectives set by the executives this year. Most of the first project idea that every individual participated in coming up with is an amazing idea that will sure add a lot of value to the organization. The idea was pitched to the executive team and was greatly approved. To be able to execute this idea, however, funding is needed and for this reason, our next step will be coming up with a budget for it.

In developing this budget, my greatest aim is making sure that all areas and aspects that need funding are incorporated in the budget and that the budget is accurately developed to avoid financial shortcomings once the implementation of the project starts (Randolph, 2014). For this reason, I am calling on all of you to help in gathering information that will be needed to come up with an accurate budget which we can present to the executives for approval. Critical information that could be required for this budget includes but is not limited to:

• Expenses of the project

• Unexpected expenses

• Training needs

• Sources of possible income (Dropkin, Halpin & Touche, 2011).

• Pricing for the various expenses

Comprehensive information will be needed on these areas and any other areas of the budget that anyone may find important. All personnel members are advised to look into these aspects and each individual is expected to come up with a comprehensive report on the same during our weekly meetings next week on Monday where this will be the main agenda being discussed. A report on the same is mandatory for all staff members with well-researched information to allow brainstorming during next week’s meeting.

References

Dropkin, M., Halpin, J. & Touche, B. (2011). The Budget-Building Book for Non-profits A Step-by-Step Guide for Managers and Boards. New York, NY: John Wiley & Sons.

Randolph, R. (2014). How to make a budget. New York: PowerKids Press.

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