How to Stretch Your End-of-Fiscal-Year Budget
It’s been a crazy year for economic development and tourism-based organizations in so many ways. And this doesn’t exclude budgets!
We were already several months into the pandemic when the beginning of the fiscal year started. Since then, it’s continued to be an unprecedented and unpredictable year.
As we get closer to June 30th, it’s important to make a plan for how to make the most of your remaining fiscal year budget.
Take time to reflect on the following questions:
What did you think you were going to get done this year but haven’t completed yet?
How can you use some of the remainder of your budget to get started on those projects now (and continue them in the next fiscal year)?
With your current financial resources available, you could create the strategy and design for a campaign now, for instance, and save implementation for the next fiscal year when you have additional resources.
If you need more staff, you could partner with contractors and subject matter experts to help move a project forward, acting as an extension of your team.
As you explore what goals, campaigns, or projects you haven’t yet put into action this fiscal year, how can you get started on those now?
By allocating some of the remainder of your budget to forward-thinking plans, you’ll be setting your organization up for success in the fiscal year ahead, while making the most of your budget.
Need some help figuring out how to best stretch the rest of your fiscal year budget?
We have April, May, and June left – that’s a whole quarter! You can get a lot done during this time. Let’s explore what you can do now to set your organization up for success in the year ahead.
‘Til next time,