Track ALL the Dollars: Campaign Budgeting Refresher

Today we’re revisiting our most requested topic from May’s National Leadership Conference. Welcome (back) to the lovely world of campaign budgeting! In simple terms, this is your financial plan for a smooth-sailing campaign. Someone has to pay for those awesome t-shirts!

Shiners at Dalhousie University collect donations on Shine Day

The Basics

Budgeting varies widely from campaign to campaign but there are important principles that apply to everyone, no matter the size of your Shinerama campaign.

• Prepare a budget ahead of time
  DO: Take the time to do find out what it will cost you to run your campaign. Doing this research up front ensures you are not taken unawares by unplanned, budget-busting costs down the road.
  AREA OF EFFECT: This includes any promotional materials, supplies, permits, services or sponsors that you will need to run Shine Day and any other secondary fundraisers.
  RESULT: This will give you a realistic perspective of what your budget will allow you to do, as well as help you get creative in finding ways to pull off low-cost events.
• Stay on top of your game
  DO: Once you've created your budget, it's important to stick to it!
  AREA OF EFFECT: Everything! Failing to update your budget regularly can lead to unpleasant surprises. The best way to stay on budget is by keeping an up-to-date record of every dollar going in and. Even once you’ve considered all the variables, be prepared for things to change, then update and adjust your budget accordingly.
  RESULT: The more creatively and accurately you keep your budget, the more funds you’ll be able to deposit for Shinerama.  Remember, what we’re doing here is ultimately to help positively affect people living with cystic fibrosis.

Keeping on Track

Staying on top of things is essential to budgeting. Keeping an up-to-date record of expenses (what you’ve spent) and income (your fundraising profits) will ensure that you are working within your planned budget and are not spending money that is growing on a tree in Never Never Land. Here are some tips and tricks of the trade that will have your committee praising your budgetary skills:

• Make Excel (or Numbers for you Apple fans) your best friend. Keeping track doesn’t need to be fancy, it just needs to be accurate and easy to update.

• Frenemies with Excel? Enter the magic of delegation! Having one responsible volunteer on your committee in charge of the budget will go a long way to keeping things organized and everyone on track. Bonus points if this person is also tactful and good at explaining things so that when they need to share that something is off-budget, no one else gets their feathers ruffled. When more than one person gets involved things can get out of hand quickly so aim to keep consistency.

• Stay organized (Excel will help). Whether it’s digital or filing cabinet style, break out a label maker and make a place for everything to belong.

• Keep all your receipts and invoices organized and on record so you can always refer back to what was spent or deposited, when and where (just in case).

• Expect the unexpected. Be prepared for unexpected expenses. No really, unplanned things will happen.

• Communicate! Update and share your budget frequently so your committee knows where they stand in terms of progress. A balanced budget keeps the committee happy and a happy committee raises lots of money!

Money Matters

So you’ve created a budget and are well on your way to leading a financially responsible campaign. No budget is too small! Here are a few other principles to keep in mind throughout your campaign:

• Sponsors: The more discounts or donations you receive from other businesses, the less you will need to fundraise just to offset your costs. Plus, everyone loves free stuff!

• Compare Prices: Get out your savvy shopper visor and do some comparison shopping to keep your costs as low as possible.

• Track: your Shine Boxes. Label and/or number them, along with names and contact info of who has them/where you’ve left them to ensure you get them all back.

• Phrase it Right: Raised funds cannot be used to offset expenses. This just means you need to phrase things correctly: funds raised on Shine Day can be advertised as going towards Cystic Fibrosis Canada. For secondary fundraisers you can state that the money raised will help support your school’s Shinerama campaign.

• Protect It: Have a safe, secure place to store all money collected (ex. Student Union safe etc.). The larger your campaign the more loose change there will be. Be prepared ahead of time and know where it will be kept safe.

• Organize: a team responsible for counting the change and break out some coin rollers. Again, prepare this ahead of time (number of volunteers, location etc.)

• Fun fact: Change is HEAVY. Just so you know.

Turning Over Your Big Bucks

Once the excitement of Shine Day is over, you still need to do a few things before you can call your campaign a blow-out success. Time to count and deposit the money! All monies have to be remitted to Cystic Fibrosis Canada within 2 weeks of your Shine Day. Don’t wait till the last minute to do deposit your cash! Here are your options for getting it done. Details on how to do each one can be found the Shinerama Extranet:

• Mail a cheque
• Give your money to your local Cystic Fibrosis Canada Chapter
• Make a bank transfer (direct deposit) at any branch of the Royal Bank of Canada

Lastly, as part of the Campaign Wrap-Up Report you leave for next year’s campaign, review your budget to make sure all debts have been paid and fundraising money has been deposited correctly (and promptly!). The very last thing you want is to tarnish the reputation of your successful campaign by leaving next year’s committee with outstanding debts due to improper budgeting. You want the new committee to use your budget as a GOOD example and resource in helping them create their future budget, which will only ensure future success!

Wishing you financial successes!

Olivia Lubanski

Campaign Advisor, Ontario & Quebec