Practice Element 6A1: Annual Budget

This document lays out the typical steps land trusts take when developing a budget, including projecting income and expenses and identifying fixed and variable expenses and their impact on costs.

Land Trust Standards and Practices Practice Element 3A2 on board oversight, includes five elements. This module addresses the first element, 3A2a: Reviewing and approving an annual budget.

An overview of the importance of having a clear policy and procedures for establishing and managing dedicated or permanently-restricted funds.

This is a sample spending policy for endowment and stewardship funds from the accredited Leelanau Conservancy.

This guidance covers Practice Element 6A4: Build and maintain sufficient operating reserves to sustain operations.