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Budget Development

Creating and managing a comprehensive budgeting plan is essential for your credit union’s success, but it doesn’t have to be overwhelming. Mark H. Smith, Inc.’s Budget Development and Variance Reporting service provides expert guidance to simplify budgeting. It is available as an add-on service for ALMPro clients.
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Streamline Your Budgeting Process with Expert Financial Support.

At Mark H. Smith, Inc., we understand the challenges credit unions face in developing a precise and strategic annual budget. Our Budget Development & Variance Reporting Service simplifies this process, helping you forecast financial performance, align with strategic goals, and proactively manage risks.

01

Collaborative Budget Development

A senior financial analyst partners with your credit union to create a budgeted balance sheet. The service utilizes a specialized model to generate projected interest income and expenses, culminating in a comprehensive balance sheet and income statement budget.

02

Ongoing Variance Analysis

Following development, the service provides budget-to-actual variance analysis reports for the balance sheet and income statement. These reports can be scheduled on a monthly, quarterly, or annual basis, allowing your credit union to monitor its financial performance and make informed adjustments.

03

Cost-Effective Outsourcing

Designed as an add-on for ALMPro® clients, this service offers a competitive and cost-effective solution for credit unions seeking to outsource budgeting tasks. By leveraging our ALM expertise, your credit union can reduce workload while enhancing the quality of financial planning and reporting.

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MHSI Outsourced vs. In-House Software

Compare cost-effective outsourced solutions with customized in-house software. At MHS we help financial institutions evaluate options based on your unique operational needs, budget constraints, and growth objectives.
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What’s Included in Our Budget Development & Variance Reporting Service?

We collaborate with your team to build a customized budgeting model that supports informed decision-making, risk management, and year-round financial stability.

Senior Analyst Support

A senior financial analyst with deep credit union expertise will guide your credit union through the entire budgeting process, providing insights and recommendations based on years of experience in ALM and financial forecasting.

Custom Budget Model

We build a customized balance sheet and income statement model that projects:
  • Forecasted interest income & interest expense.
  • Operating expenses & non-interest income.
  • Key financial metrics tailored to your credit union's growth strategy.
This model clearly shows your anticipated financial position for the coming year.

Budget vs. Actual Variance Analysis

Once your budget is in place, we provide customized variance reports that compare your budget to actual performance. These reports are available at your preferred frequency: monthly, quarterly, or annually.

These insights help you monitor financial trends, identify variances, and make necessary adjustments to stay on track.

Proactive Financial Decision Support

Our analysis helps you understand why variances occur and what steps to take next. We provide expert interpretation and recommendations, helping your management team:
  • Adjust strategies in real-time.
  • Mitigate risks before they impact your bottom line.
  • Enhance financial planning for sustainable growth.

Cost-Effective, High-Value Service

Our service is designed to be affordable and cost-effective compared to the time, resources, and potential miscalculations involved in handling budget development internally. Let us manage the complexities while your team focuses on serving members and growing the credit union.

Why Credit Unions Trust Us 

Personalized Service & Support

Think of us as your dedicated ALM specialist, always just a call away. We understand every credit union is unique, which is why we tailor our solutions to your specific needs, providing personalized support as if you had an expert on staff.

Results-Driven Solutions

Our approach delivers measurable value through customized solutions, not one-size-fits-all services. We're known industry-wide for going beyond expectations to help credit unions achieve their financial management goals.

Your Credit Union Specialists

We've exclusively served credit unions for over 40 years, giving us unmatched understanding of your unique challenges. Our ALM validation acknowledges that your IRR management program should match your size, complexity, and risk profile.

What Our Clients Say...

I wanted to reach out and tell you how much I appreciate your support and knowledge. Thank you for your continual support and partnership.
Rick M. /CEO
CU Asset Size – $133 Million

What Our Clients Say...

Thank you so much. This is exactly what I was looking for. We really appreciate our relationship with Mark H. Smith and company.
Matt F. /CFO
CU Asset Size – $180 Million

What Our Clients Say...

I just have to say…I have always received the best service from every single Mark Smith employee!! Very happy with you as a vendor of ours!!
Joette D. /CEO
CU Asset Size – $35 Million

What Our Clients Say...

It’s like you read my mind. I appreciate the updated copy – thanks for continuing to make the policy relevant.
Cindy D. /CEO
CU Asset Size – $155 Million

What Our Clients Say...

Thank you very much for your presentation yesterday to our ALCO and BOD. Your presentation made it much easier for many of us to understand what can be a very complicated/complex topic. I find that each quarter that we work with your organization, we become more knowledgeable and informed as to what our risks are. So thank you very much.
Kevin M. /Accountant
CU Asset Size – $43 Million

What Our Clients Say...

Thank you for spending time on these worksheets and calculations… I’m only half-joking when I say, “when I grow up I want to be like the team from MHS”. I really appreciate your knowledge and expertise, but most of all, your willingness to help others in our community of credit unions.
Rose J./Manager Financial Planning
CU Asset Size – $100 Million

What Our Clients Say...

I really appreciate the good job your team does for us. Your company is my favorite vendor 😊
Matt F. /CFO
CU Asset Size – $180 Million

What Our Clients Say...

It’s this kind of Service that keeps us with you Mark Smith. Thank you very much !!!
Paul L. /CFO
CU Asset Size – $240 Million

What Our Clients Say...

I’ve made contact with the references you gave to me – each gave your company an A+ on your services and support.
Melissa M. /CEO
CU Asset Size – $18 Million

What Our Clients Say...

Thank you for making time to discuss our IRR yesterday. The examiner complimented the reports and was satisfied with my responses. I appreciate the time and attention to this.
Jennifer W. /CEO
CU Asset Size – $77 Million

Ready to Strengthen Your Credit Union’s Financial Strategy?

Gain clarity and confidence with expert ALM insights, regulatory support, and data-driven decision-making. Let’s discuss how our solutions can support your institution’s success.
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FAQ

Questions? We’ve got answers.

Looking for more information? Visit our FAQ page for answers to common questions, or feel free to contact us below if you need further assistance. We’re here to help!
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