Field Guide to Association Budgets and Reserves
(Updated October 2009)
Creating and maintaining a successful association budget doesn't have to be a headache. Take the pain out of budgeting with these tools available through NAR's library at Information Central. (S. Hogan, Information Specialist)
Guiding Principles of Budgeting
- Well-defined goals and objectives
- Full participation management
- Understanding that the budget needs to be flexible
- Timetable to assure a well-thought out budget
- Managers are responsible for certain activities and are responsible for the budgetary planning
- Open communication
- Review budget throughout the year to identify and address variances
Source: Fundamentals of Association Management: Finance, (American Society of Association Executives, 1987). HF 294 Am3ff
Association Budgets 
Standard costing, flexible budgeting, and variance analysis for nonprofits, (Cost Management, May/June 2009). Q
Planning and budgeting in non-profit organizations, (CMA Management, Mar. 2009). Q
A healthy check on payroll expenses, (The Practical Accountant, Nov. 2008). Q
Finance supplement: reserve rules, (Associations Now, Mar. 2008).
Ratios & Reserves
Reserves and the recession, (Associations Now, Aug. 2009).
The yin & yang of operating reserves: what you need to know, (Nonprofit World, Jan./Feb. 2009). Q
Get the best protection for your insurance dollar, (Nonprofit World, July/Aug. 2006). Q
How can I make sense of the money?, (Association Management, Jan. 2005). Q
REALTOR® Association Policies
Financial management controls, (Bryan College Station Regional Association of REALTORS®, Feb. 2009).
Investment policy, (Worcester Regional Association of REALTORS®, June 2004).
Financial responsibilities & procedures, (Worcester Regional Association of REALTORS®, Apr. 2004).
Cash Management Policy, (Virginia Peninsula Association of REALTORS®, Feb. 2002).
Travel and expense reimbursement policy, (South Carolina Association of REALTORS®, Apr. 2002).
Useful Websites
REALTOR® Association Certified Executive homepage, (National Association of REALTORS®).
Charities & Nonprofits, (U.S. Internal Revenue Service).
American Society of Association Executives (ASAE)
Nonprofit Risk Management Center
eBooks & Other Resources
eBooks.realtor.org
The following ebooks and digital audiobooks are available to NAR members:
The Budget-Building Book for Nonprofits: A Step-by-Step Guide for Managers and Boards (Adobe eReader)
Financial Management for Nonprofit Organizations (Adobe eReader)
Cash & Investment Management for Nonprofit Organizations (Adobe eReader)
Budgeting for Managers (Adobe eReader)
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.
Association audits from A to Z: a guide for executives, (Washington, D.C.: American Society of Association Executives, 2000). HF 294 L25
The Complete guide to managing chapter funds, (Washington, D.C.: American Society of Association Executives, 2000). HF 294 V94
Financial and accounting guide for not-for-profit organizations, (New York: John Wiley, 2000). HF 294 G91
Financial and strategic management for nonprofit organizations, (San Francisco: Jossey-Bass, 2000). HF 294 B84
The Policy sampler: a resource for nonprofit boards, (Washington, DC: National Center for Nonprofit Boards, 2000). HF 294 F63
Reserve funds and investment policies, (Washington, DC: American Society of Association Executives, 1998). HF 294 Am3rf Ed. 2
Field Guides & More
These Field Guides and other resources in the Virtual Library may also be of interest:
Field Guide to Financial Planning for Associations
Field Guide to Strategic Planning
>> Have an idea for a new Field Guide? Click here to send us your suggestions!
The inclusion of links on this Field Guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked to this Field Guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.
E-mail 
