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The Heartbeat of PROC

The Heartbeat of PROC. Everything You’ve Wanted to Know About Budgeting but Was Afraid to Ask. Presenter Nicole Littlejohn. A detailed listing of annual estimated income and estimated expenses. A financial plan that serves as a guide for month to month operations. What is a Budget?.

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The Heartbeat of PROC

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  1. The Heartbeat of PROC Everything You’ve Wanted to Know About Budgeting but Was Afraid to Ask Presenter Nicole Littlejohn

  2. A detailed listing of annual estimated income and estimated expenses. • A financial plan that serves as a guide for month to month operations. What is a Budget?

  3. To determine how much money you plan to bring in and how much money you plan to spend. • Used to control activities. What is the Purpose of a Budget?

  4. Estimate income and expenses for the year based off of various factors and prior year budget vs. actual trends. How Do You Develop a Budget?

  5. True or False? A budget is a financial plan that serves as a guide for month to month operations. TRUE Test Your Knowledge

  6. Donations • Member donations • Corporate donations • Fundraising • Matching gifts • Grants • Free money • Thorough record keeping is necessary Types of Potential Income

  7. Foundation budget is prepared by the Treasurer. • The program budget is prepared by the Program Chairman with the assistance and recommendations of the Treasurer. • The programming budget is formulated off of member donations. Programming Budget

  8. Committee chairmen submit budgets for each program and/or initiative. These should be used by Program Chairman to create program budget. • Program budget is presented to the chapter prior to the chapter voting on the budget. Programming Budget

  9. True or False? The types of potential foundation income are donations, fundraising, matching gifts and grants. TRUE Test Your Knowledge

  10. True or False? The program budget is prepared by the Basileus of Pi Rho Omega Chapter. FALSE Test Your Knowledge

  11. True or False? The program budget is formulated based off of member donations. TRUE Test Your Knowledge

  12. Assists Treasurer with record keeping. • The integrity of your records is critical. • Committee chairmen should save a copy of all vouchers submitted for their records. Voucher System

  13. True or False? When submitting vouchers, it is not necessary to submit supporting documentation such as receipts. FALSE Test Your Knowledge

  14. Monique is chairman of the Senior Citizen Committee. She’s a first time committee chairman and doesn’t have a lot of experience with the budgeting process. What supplemental tools can she use to help her create a realistic budget for her committee? Answer: Prior budget vs. actual figures and copies of previously submitted vouchers. Test Your Knowledge

  15. Questions

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