How should we develop an annual budget aligned with our strategic goals?
Every year we basically take last year’s budget and add a bit for inflation. Our ED puts it together and the board approves it. It kind of works but I feel like it’s not strategic at all — we’re just carrying forward the same things year after year without asking whether they actually serve our goals. I’ve heard there’s a better way where you start from your strategy and work out the budget from there. Has anyone done a proper participatory budgeting process? How does it actually work and how much time does it take?
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James B. Changed status to publish