You need a budget and you need to be able to forecast your cash flow. Let us put our years of experience to work for you in planning and projecting.
Setting financial goals and projections allows you to implement measures necessary to achieve those goals, and then to measure your implementation and gauge the success thereof. The failure to establish a budget for the fiscal year, and/or the failure to adhere to that budget, can lead to excessive expenditures, cash shortfalls, and other serious financial problems. Every entity should have a budget and review the budget reports regularly.
Forecasting involves an analysis of cash sources and uses, taking into consideration both historical data (to show trends and customary performance) and anticipated transactions. These would include sales/revenue projections, accounts receivable collections, expense projections, accounts payable and A/P aging issues, capital expenditures, and sources of debt or equity financing. BPI communicates regularly with the client on forecasting issues so that management can make appropriate decisions.
BPI's services in this area include:
- Set financial goals using input from client
- Prepare annual budget
- Prepare projected multi-year budgets
- Prepare Budget-to-Actual reports
- Generate cash flow forecasting
- Prepare Statement of Cash Flows
- Develop grant budgets