Finance & Funding
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Cashflow ForecastingA cashflow forecast is an estimate of the amount of money you expect to flow in and out of your club. A cashflow forecast can make managing cash flow easier by helping to predict surpluses or shortages of cash. When comparing your actual income and expenses with your forecasts you will be able to see whether your club is over- or under-performing. Preparing a cashflow forecast is simple. The treasurer should start by estimating the likely income for each month. Use previous bank statements and receipts to identify any patterns in income and spending. Next, the treasurer needs to consider all fixed and variable costs the club will incur. It is a good idea to go through historical payment records to ensure no annual or erratic expenses or overlooked. Use the budget to help anticipate the amount of the receipt or payment. Once the cashflow forecast has been approved by the club president and other members of the club committee, refer to it monthly to ensure the club is on track to achieve its financial goals. The cashflow movements should always reconcile back to the bank statement for the period. TEMPLATE Budget and Cashlow Forecast
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