Business planning promotes an enhanced culture of governance over finances by societies. The process encourages strategic planning and budgeting to be done prior to the end of the member year (the fiscal year end for approximately two-thirds of societies).
Empowered incoming boards to execute on plans
New boards beginning their terms in July will have their business plans for the year in place, having been developed and approved by their previous administrations. The new board’s role is to execute on that plan and to prepare their successors’ budgets and business plans.
Better intelligence gathering
CFA Institute requests that each local society submits an annual business plan and budget for the upcoming fiscal year to enable us to focus resources and support common objectives and planned activities. This year, there is an updated, streamlined process for collecting information related to annual business planning and operational funding requirements.
Planning Cycle