Financial Planning In Non-profit Organizations.

The mechanism of financial planning in non-profit organizations can be different depending on their organizational and legal forms. Planning of financial resources of budgetary institutions is carried out in accordance with the principles of the estimated funding. In this case in the estimate of revenues and expenses of budgetary institutions we should note as funds received from the budgets of the appropriate levels and extra-budgetary funds, as income from entrepreneurial and other income-generating activities.

Planning of budget allocations is based on the operational-network performances and cost standards, that are set either by law (e.g., minimum wage, unified social tax rate), or by calculating by financial authorities. These performances vary depending on the type of establishment: bed, bed-day, doctor’s visits – in health care, the student – in schools and institutions of secondary vocational education, students – in universities, etc. Planning for extra-budgetary funds should be made separately, in the context of their types: trust funds and grants received, funds from entrepreneurial and other income-generating activities (including revenue from paid services), the funds derived from state funds, currency funds. Revenue from the provision of services, which are the main type of off-budget funds in the majority of budgetary institutions, are based on predicting the number of billable services, that will be rendered in the planning year, and price (cost) for unit in provided services.

Unlike the budgetary institutionsб non-profit organizations (with other legal forms of organization), by analogy with commercial organizations reflect the financial resources and directions for their use in financial terms, and its exact form is determined by the statutes of the organization. The financial plan may be submitted in the form of balance of incomes and expenditures or in the form of income and expense estimates, which has, in contrast to the estimates of income and expenditure of budgetary institutions, two additional sections that reflect the relationship with the budget system and payments to lending institutions. Budget allocations in the financial plan of non-profit organization can be recognized as single sum in the form of grants or subsidies received under the federal program or as a means provided by organizations on a state or municipal contracts to pay for goods and services. Planning of the budget is based on applications for participation in the federal target program or in the contest for host the municipal government contract and related calculations. Planning for other types of financial resources should be made in a manner similar to commercial organizations. The financial plan should be adopted by supreme governing body of a non-profit organization.

When we draw up financial plans for non-profit organizations (of all organizational and legal forms) we should use methods for financial planning that we use with commercial organizations: extrapolation, normative, indexed, balance. A special feature of the standard method in financial planning in the budgetary institutions is bound with the use of norms and standards established by law.

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