Budgeting as a strategic tool for development in the arts

Abstract

This paper examines budgeting as a strategic tool for development in the Arts. Budgeting as a fundamental requirement to good management is being overlooked in Arts organizations. The study stresses the relevance of budgeting to arts organisations that ought to achieve their goals and
objectives. It evidences the difficulties faced by arts organisations to sustaining their institutions, proffering solutions to them. It concludes by giving recommendations thus clear, simple and userfriendly budgeting should be developed, budget should be standardized for continuous balanced
development in arts organizations. A budget committee should be set up and staff training and development should also be introduced to effect proper budgeting processes.