The primary consideration when budgeting for a non-Chest activity is to ensure that expenditure does not exceed the funds available. Therefore the best place to start when budgeting for a non-Chest activity is to calculate the income available.
Therefore the process for preparing a non-Chest budget is as follows:
- Calculate cost of planned expenditure
- Allow for overheads on stipends if applicable. (Please refer to Budgeting for overhead recovery income for more details)
- Estimate annual income available
- Compare income available to planned expenditure to ensure funds available are sufficient
The Monitoring and controlling expenditure against income pages provide guidance on how to monitor and control expenditure where there is no formal budget in UFS.