6.3 How Much Will It Cost?
Having a robust system of budgeting is vital to the success of the project. That not only consists of income and expenditure but ensuring you have sufficient cashflow to pay for your project. This website has an Excel template in the Downloads section that you can use for a 3 year period leading up to a build and for 2 years afterwards (to demonstrate sustainability of the project). See below for some notes on using this template.
You may as a church want to appoint someone in addition to your church treasurer who will manage the finances of the building project in order to share the significant time required.
Do a major review of your budget at least every year and monitor it on a monthly basis.
You may wish to set up a risk management system (traffic light style: red, amber and green) to show whether you are keeping on track with the project.
Budget template – notes
Download the budget template from the Downloads section and adapt it to suit your requirements – you will of course need to be familiar with Excel. Please take care not to change formula in the cells which link each sheet together. Start by entering your opening balance (cell C49 coloured in light yellow on purple tab sheet Year-3). Use the Summary sheet (light blue tab) to build your initial 5 year budgets.