"No plan survives first contact with the enemy," said Prussian military strategist Helmuth von Moltke. Likewise, when the annual budget process transitions to execution, it’s already out of date. The ...

With the proper process, tools, and feedback mechanisms in place, budgeting can be a valuable exercise for organizations and provide a solid framework for holding organizational leaders accountable.

In my work with nonprofits and mission-driven institutions over the past 22 years, I've seen three recurring “states,” each with a different budgeting owner and a different cadence. When organizations ...