Masonic Leadership Training

1. Masonic Leadership Training Finances & Budget

2. Agenda • Introductions • How to Organize Resources • How to Stay Within Your Budget • Dues and Dues Collection • Investment • How to Prepare Your Budget • Resources • Fixed Cost or Non-Discretionary Expenses • Finalizing the Plan • Finances • Check Past Records • The Lodge Budget • Lodge Maintenance • Sample Budget • Lodge Funds and Property

3. Introductions • Your Masonic Leadership Training Team • Honored Guests • Attendees • Name • Lodge & Location • Title and Position, if any

4. General Info • Restrooms • Cell phones/PDA’s • Sign-In Sheets

5. Resources • Florida Digest of Masonic Law • Lodge Officers Handbook • Masonic Leadership Training Manual • Lodge Secretary Administrative Guide (GL215) • Worshipful Master’s Program Notebook (GL218)

6. How to Organize Resources • Every well governed Lodge works within their approved budget • Utilize the Finance Committee (10.02) to help the Lodge make proper budget decisions and work within set allowances • Keep the membership involved and informed

7. How to Stay Within Your Budget • It is vital to work within your budget by: • Planning Ahead • Handle Unexpected Expenses • Know your Budget Limits • Plan and Cover Authorized Expenditures

8. Dues and Dues Collections • Notify the Brethren in a timely manner • Delinquent Dues Committee • Review delinquent member list quarterly • Communicate with delinquent members • Keep WM & Secretary informed and make Committee reports to Lodge as needed • Double check delinquency status before proceeding with suspension notifications

9. Investments • The key to surviving tough economic times is to maximize the Lodge’s returns • Keep only what is needed to cover monthly expenditures in the checking account • Utilize savings account to cover unanticipated emergencies • Invest remaining funds into accounts that provide the highest reasonable rates of safe return • Ensure enough funds are available over the length of time needed to benefit from the investment (I.E., you cannot use invested funds for 2 years on a 24 month cd)

10. Preparing a Lodge Budget • Resources (income) • Dues • Interest & Dividends • Sales of Stocks and Bonds • Rental Income • Initiations, Passings, Raisings & Affiliations • Donations • Fund Raisers • Other (concession stands, race track parking, etc.)

11. Lodge Budget, cont • Fixed Expenses (Non-Discretionary) • Rent/Maintenance • Utilities • Salaries and taxes • Trestle Board (printing, postage, etc.) • Representatives travel expenses to Grand Lodge • Per-Capita Tax • LYPMGC • Grand Master’s official visit • Master’s Apron, case & jewel (if customary) • Miscellaneous

12. Lodge Budget, cont • Non Fixed Expenditures • Many of these items will be a ‘best guess’ • If last years budget is used as an example, did you adjust for inflation? • Add new expenses planned for this year • Printing costs • Postage for fliers/tickets • Entertainment costs • Decoration costs • Food or refreshment

13. Finalizing The Plan • Alternative Means of Program Funding • Expenses can be offset through donations accepted at events or advance ticket sales • Put the word out several months in advance and up to event night • Final budget needs to be presented to the Craft and approved • Remember, the Budget is a plan and subject to change

14. Check Past Records • Funds are the Life Blood of Your Lodge • It gives the Lodge the ability to implement the plans for the year and to promote Masonry within the community • Past Records May Provide Great Insight on Financial Costs • Remember past events are based on the participation level, attendance can make the difference between negative or positive cash flows • Inflation levels will affect planned expenses

15. The Lodge Budget • Budget Building – The Right Way • It is much better to decide what the Lodge has planned for the ensuing year, identify the costs, then calculate what the Lodge will need to raise in order to meet its Budget • Budget Building – Backwards • Created by taking total income from dues and investments, then base Lodge events on remaining balance • As total income decreases, this may cause Lodges to halt all events and not be seen in the community

16. The Lodge Budget, cont • Internal Fundraisers • Pledges – where the membership is contacted and asked to give a specific amount (can be a singular amount or spread across months, as needed) • A plaque can be made naming the contributors to identify contributors • Ensure all members are contacted, even those not local • Reports to Lodge the status and total collected • External Fundraisers • Collected from external sources and community • Bake sales, manning concession stands, meals, etc.

17. Lodge Maintenance • PRN (As Needed) • Many Lodges perform maintenance only as needed to keep the building usable • No planned budget, funds raised when needed • No plan for upgrades or improvements • Planned • Long range plan to maintain usability and includes a budget line to support it • Identifies planned upgrades and improvements to maintain the beauty of the Lodge

18. The End • Thanks for Attending!!