Field Guide to Association Budgets and Reserves
(Updated February 2007)
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. (M. Martinez, Library Manager)
Contents:
Association Budgets | Ratios & Reserves | REALTOR® Association Policies | Useful Web Sites | Books, eBooks & Other Resources
Guiding Principles of Budgeting
Full participation management
Understanding that the budget needs to be flexible
Timetable to assure a well-though 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
Taking the pain out of budgeting, (The Practical Accountant, Feb. 2007). Q
Monitoring return on strategy, (Association Management, Oct. 2004). Q
REALTOR® Association Models Online Planning Tool, (National Association of REALTORS®, 2004).
The board balancing act, (Association Management, Jan. 2004). Q
Making sense of the money, (Association Management, Jan. 2004).Q
Financial policy primer, (REALTOR® Association Executive, 2003).
Financial management: If you can't measure it, you can't manage it, (Best Practices for REALTOR® Association Executives, Dec. 2003, p. 12-14).Q
Better budgets: 10 steps to initiating a zero-based program budget, (REALTOR® Association Executive, May 2003).
How to budget in uncertain times, (REALTOR® Association Executive, May 2003).
A different breed of budgeting, (Association Management, Feb. 2003). Q
Ratios & Reserves
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
Mission possible: fund raising, (Association Management, Oct. 2004). Q
A study in ratios, (Association Management, Dec. 2003). Q
Fraud squad, (Association Management, Sept. 2003). Q
Put it on paper, (Association Management, May 2003). Q
Reserves play a key role in associations' fiscal health, (Association Management, Apr. 2003). Q
In reserve: emerging strong out of a weak economy, (Association Management, May 2002). Q
Learning not to spend it now, (Nonprofit World, Mar./Apr. 2002). Q
REALTOR® Association Policies
Financial management controls, (Bryan College Station Regional Association of REALTORS®, Dec. 2004).
Financial responsibilities & procedures, (Worcester Regional Association of REALTORS®, Apr. 6, 2004).
Fiscal policy, (Worcester Regional Association of REALTORS®, Apr. 13, 2004).
Cash Management Policy, (Virginia Peninsula Association of REALTORS®, Feb. 2002).
Financial Procedures Policy, (South Carolina Association of REALTORS®, July 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)
BoardSource
Nonprofit Risk Management Center
eBooks & Other Resources
eBooks.realtor.org
The following ebooks and digital audiobooks are available to NAR members:
Not-For-Profit Budgeting and Financial Management (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
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.
