“Closing the Gap between Operating Costs and Revenue”

“Closing the Gap between Operating Costs and Revenue” by Gerald J Archibald  (Central New York Business Journal – April 1, 2011)

 Highlight:

In this article Mr. Archibald identifies 10 areas that nonprofits or any business should concentrate on in order to “close the gap” between limited revenues and inflationary operating costs. The areas could be summed up as decrease costs and increase revenues where possible.  However, highlighting a list is helpful for administrators to stay focused. Here is the list of focus areas that Mr. Archibald suggests: 

1. Outsourcing administrative- support  functions
2. Fuel costs
3. Health-insurance costs
4. Retirement-plan funding
5. Telecommunications costs
6. Document-imaging paper and printing-supplier costs
7. Workers-compensation costs
8. Information-Technology costs
9. Personnel costs
10. Fundraising opportunities – on the revenue increasing side