c. myblog

June 14, 2017

Strategic Budgeting/Forecasting Questions: Consider Key Forces

This is the third entry in our 6 blog series about Strategic Budgeting/Forecasting Questions. Question 3 – What key forces could impact our forecast? Every good forecast should have a sound rationale and basis for the assumptions. If the current forecasting approach involves simply taking last year’s growth rates and assuming they continue, that will not […]

June 7, 2017

Strategic Budgeting/Forecasting Questions: Representation of Strategic Initiatives in the Budget and Forecast

The second entry in our 6 blog series about Strategic Budgeting/Forecasting Questions builds on an understanding of Question 1. Having identified the financial direction of each strategic initiative, decision-makers are better positioned to look at the budget and see how the initiatives are represented and, of course, ask “why” questions. Question 2 – How are […]

May 17, 2017

Strategic Budgeting/Forecasting Questions: Connect Strategic Initiatives with Financial Direction

Strategic initiatives impact results – members may be better served and membership may grow, assets may grow, and earnings and net worth may increase. Some strategies may cause temporary or long-term reductions in membership, assets, earnings, or net worth. Budgets and forecasts should incorporate the anticipated impacts of strategic initiatives and establish common expectations for […]

August 25, 2016

What-Ifs Help the Budget Process

Testing ideas and running what-ifs is a powerful way for decision-makers to understand the impact of decisions under consideration in real-time (for more on this, please refer to our blog, Has your ALM technology Emerged from the Dark Ages?).  The power of what-ifs can also be applied to the budgeting process, and help link decisions […]

August 14, 2015

What Are Some Things to Consider as Part of the Budget Process?

We help a lot of institutions with the creation of their budgets and long-term forecasts. There are many questions that often arise as part of that process. The most common question is, what rate environment should I plan on? There is no easy answer to this question; the reality is that whichever environment gets incorporated […]

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