It is always interesting to hear how people are going to start each new year. Plans and commitments (or re-commitments) are often espoused in the form of resolutions. While most often associated with personal goals like losing weight, quitting smoking or realizing bucket list items, many business and commercial resolutions are also made.
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Let’s face it, budgeting is a necessary evil. To do it right means capturing lots of different data points and mashing those together to paint a picture of the income and the expenditure activities within a particular property for the coming year. It’s neither a quick nor easy task and its magnitude varies by the size of the property, complexity of the facility, age of the building and the needs of the landlord. Without a doubt, it is an important task that will produce a financial roadmap for that property for the year ahead.
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