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Budgeting & Scenario Planning for a New Reality

March 30 @ 1:00 pm - 2:00 pm

Budgeting & Scenario Planning for a New Reality w/ Steve Zimmerman of Spectrum Nonprofit Services

In the best of times, cash flow can be a challenge for nonprofit organizations, especially those serving the most vulnerable in our communities. These are far from the best of times. As the pandemic stretches out, revenue streams are a fraction of what they were at the beginning of the year and cash flow management to meet payroll and other expenses becomes a crucial skill. This session cuts through the clutter of financial information to focus senior leadership teams on the most important components of their cash position, exploring projections and the options available as they make short and long-term decisions stabilize the organization and ultimately survive the crisis.

Session Objectives• Connect key financial documents including the statement of financial position (balance sheet) and statement of activities (income statement) to cash flow concepts.• Calculate financial ratios to determine immediate health and long-term viability.• Explain the process to update cash flow projections and explore options to address current and impending challenges.