It's time to stop looking at budgets, argues Jeanne Bell in this provocative finance column, and pay attention instead to projections and financial goals:
In this precarious era, annual budgets have become like new cars: they lose value even as you drive them off the lot.
How many of us could predict even a few months ago what might take place to affect our donations, our foundation grants, or our government contracts? The entrenched practice in many nonprofits of using the approved budget as the primary financial reference point just isn't suited to effective financial leadership anymore.
Focusing on the annual budget -- adopted months ago -- is like setting a course on the high seas and staying with it even when unexpected rocks suddenly appear, or a more favorable, alternative route opens up ahead. Instead of being locked into . . .