If you detect overspending, act quickly:
Review current expenses to identify the source of the issue.
Communicate with your team to understand why the overspending occurred.
Reallocate resources or reduce costs where possible.
If necessary, reach out to the funder to discuss the situation and potential solutions. Transparency is key—they may be able to help navigate budgetary concerns.
Update your CRM with the new budget information and any communication with the funder.
Consistent monitoring and early detection are vital to managing budget issues effectively.