Budgeting in the shadow of COVID-19

Description

Abstract: Budgeting is always, to some degree, an exercise in uncertainty. But the current budgeting environment is unlike any experienced before. As a result of the COVID-19 crisis, many nonprofits have seen deep declines in revenue while the demand for their services has spiked. These and other pandemic-related factors may call for organizations to take a different approach to budgeting. This article discusses rolling budgets and reforecasting. A sidebar reflects on how nonprofits should budget for COVID-19-related expenses, such as sanitation-related services and employee assistance.