Mr. Jeff Beaumont is a CPA working for a firm that focuses on serving the nonprofit community. His opinions are his own and do not reflect the opinions or positions of his firm in any way. Because he speaks for himself, I won’t identify him or his firm in any more detail. He doesn’t speak for me either.
He has about seven years experience as an auditor working on the issues discussed on this blog. This is the fourth post in a series.
By Jeff Beaumont, CPA
Part 4– Final thoughts
Introduction is here. Description of forecasting model is here. Calculations discussed here.
Okay, once the research is complete, we can put together a fair and reasonably accurate estimation of tithes and offerings for budgeting for next year.
Next, the smell test. I have learned the necessity of this. So if the model says next year will increase by 5-10%, I should look at what has happened in the past (at least with the past I won’t have to make any guesses since it already happened!).