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2011 Executive Board Training

2011 Executive Board Training. Budgets & Finances. Timeline of the Budget Process. Oct: Develop a draft of your budget with your committee and Executive Board Liaison . Due: 10/28/11 Nov: Review and revise draft with your committee and Executive Board Liaison.

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2011 Executive Board Training

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  1. 2011 Executive Board Training Budgets & Finances

  2. Timeline of the Budget Process • Oct: Develop a draft of your budget with your committee and Executive Board Liaison. Due: 10/28/11 • Nov: Review and revise draft with your committee and Executive Board Liaison. • Nov: Submit a final draft of your budget and all other materials. Due 11/29/11 • Dec: Executive Board Meeting – Officers and Directors review proposals and make suggested allocations. • Dec or Jan: Executive Board votes to approve allocated budget as a whole.

  3. Closing Out This Year’s Budget • Help create a record for the organization. • An opportunity to clear up any discrepancies between the committee and the Treasurer. • A tool for committee chairs to help in proposing the following year’s budget.

  4. Recording the Past Year

  5. Proposing a New Budget • Each objective is its own budget line. • One budget line cannot be used to cover another – even if they are under the same goal. • Be specific in your explanations. Unclear objectives will be cut. • Be careful on how you organize your budget.

  6. Proposed Budget Worksheet • Only use the Itemized Objectives and 2012 Requested Budget columns. • 2012 Approved Budget column will be utilized by the Treasurer once the Executive Board approves the budget. • 2012 Updated Expenses column will be used by the Treasurer if there is any additional funding approved by the Executive Board during the year.

  7. New Fiscal Year Budget

  8. Operational Calendar • An overview of your committee’s year. • When key goals or objectives take place. • What your committee will be doing month to month. • Really useful if your committee is involved with some sort of conference.

  9. Requesting Additional Funds • Purpose: when original allocation is not enough or a new initiative is developed during the fiscal year. • Remember: there is no guarantee that an Additional Funds Request will be granted. • Caution: The Executive Officers do not cover budget line excesses from the Executive Officer line.

  10. How to Request Additional Funds • Petition the Executive Board: majority vote required for approval. • Submit the Additional Funds Request worksheet to the Treasurer at least one week prior to the Executive Board meeting.

  11. Conference Budgets • All MACUHO conferences and drive-ins are developed around a zero sum budget model (except MAPC). • Committee Chairs: please communicate conference chairs to the Treasurer in advance. • Conference chair should send a preliminary budget to the Treasurer 30 days before the conference. • A closing budget should be sent to the Treasurer no later than 2 weeks after the conference. • Budgets should be a listing of all expenses and revenue.

  12. Check Requests • Used for either reimbursement or for payment to a vendor. • Requests can be mailed or faxed. • Receipts, bills, or invoices are needed for the request to be processed. Originals are preferred, but copies can be given to start the process. • Be sure to indicate what budget line the money should be drawn from. • Committee Chair signature is required.

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