Learn how to establish and manage a budget for your program.
Setting the Initial Budget
- Open the program or create a new one
- On the Program Details tab, find the Budget field
- Enter the total budget amount
- Set Is Program Currently Funded? to Yes or No
- Save your changes
Budget vs Target Budget
There are two budget fields:
- Budget (Program Details): The overall program budget shown on the main details tab
- Target Budget (Budget & Financials): A more detailed target used in the financial tracking section
Accessing Detailed Financials
- Open the program
- Click Budget & Financials in the workspace navigation
- You will see tabs for Projected Expenses, Actual Expenses, Projected Income, Actual Income, and Financial Summary
Tips for Budget Management
- Set realistic budgets based on historical data
- Update the Funded status as funding is secured
- Regularly compare actual expenses to projected expenses
- Use the Financial Summary for a quick overview