7/30/2023 0 Comments Strategic budget exampleWe’ve been putting this into practice at the Chazen Museum of Art. What are they concerned about where do they need more support? Let the numbers follow their answers. Allow staff and board members the breathing room to really talk about what the coming year holds and what they hope to accomplish in it. Ground budget discussions in priorities and strategy instead. If your budget discussions are only about numbers, you’re missing an opportunity. How can we change this? Here are a few ways you can better connect your budget to your strategy: 1. Museum Budgeting: Putting Your Money Where Your Mission Isīuilding a More Just and Equitable World: Introducing AAM’s 2022-2025 Strategic Framework ![]() Skip over related stories to continue reading article The museum field is obsessed with strategy, but we don’t talk about budgets very often. But it probably doesn’t include a single topic related to budgets or financial issues. It might include discussions of upcoming exhibitions or new educational initiatives. Now look at a recent staff meeting agenda for your museum. But how much time does your staff or board invest in planning and maintaining the budget that supports these activities? A handful of hours perhaps-at least for those who aren’t in a financial position. This is only right-these are mission-specific activities they should be our focus. But do we? Consider for a moment how much time your staff invests in planning exhibitions, public programs, and outreach. Given this reality, you would think the museum field would invest considerable time and energy into resource management. And what good is a sports car if the engine can’t power it? But a budget reveals what’s actually under the hood. A strategic plan represents what a museum says it will do. One reason is that the budget process in many institutions doesn’t adequately support and mirror the strategic planning process. Why, then, is a single dollar ever wasted or diverted? It can fund your highest priorities, create goodwill with your community, and engage your staff. ![]()
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