We’ve prepared the organisational budget for 2019-2020 (our year starts on September 1st so this blog is less late than it sounds).
As part of that process we ran our first proper ‘variance analysis’ (or ‘I compared the budget to the actual spend’) for the last organisational budget and you can see it at BudgetvsActualsForThisYear. The variance analysis wasn’t actually complete because the year hadn’t ended and there were various payments/invoices to process that will improve the bottom line) but it’s broadly accurate. Worth noting this was only for six months – it runs end of Feb to end of August.
I’ve used the actual spends to build a Budget for 2019-2020. I’m assuming an increase in income from licencing White Water Writers and a matching increase in cost of sales, but I’m otherwise assuming the same spend in the same categories except for staff pay as we have COO salary to cover. At the moment, we’ll make a (coverable) loss on the year unless we bring in another decent grant.