HOWTO Chair the Budget Committee
|This page contains suggested procedures. These are provided for instructional purposes. Suggested procedures are not official policy, and can be changed at any time. Officers are encouraged to improve the procedures for their position (after understanding them).|
Tasks/Responsibilities of Budget Committee
- Manage the Budget and all associated processes.
- Present reports to Board and Membership.
- Use the Transaction Recognition Policies defined by the Treasurer.
- Set all i3 policies regarding Budget documentation and accounting, subject to override by Board Action.
- Hold working meetings if the Committee has more than one member.
- Make sure that budget@ is set to archive both incoming and outgoing emails permanently.
- Pass all communication and documentation thru budget@ to insure archiving.
- Budget@ becomes your permanent archive for the next person.
Processing a Reimbursement Request
- Get payee name, mailing address, scan of receipt, amount, and Line Item # from the submittal, either from a form reimbursement request (see the Instruction Manual for Budget) or by informally gathering the information to firstname.lastname@example.org.
- Make sure the name, amount, line item and scan of receipt pass thru budget@. If you are handed paper, photo it and send it to budget@.
- Send email with amount, name and description to Authorized Agent, per budget. Insert in spreadsheet Color ORANGE.
- Pester Authorized Agent until approval/rejection. Let Authorized agent handle rejection directly with submittee.
- Cut check to submittee. Place in month when check is cut. In spreadsheet mark PURPLE.
- When submitee receives check or check clears bank, mark GREEN.
Processing a Budget Amendment Request
- All amendment requests given to the Treasurer will be vetted for completeness and forwarded with an opinion by the Treasurer to the Board at monthly Board Meeting.
- Give an opinion when asked on all amendment requests done ad hoc in the Board Meeting.
- Add each approved amendment to the Budget after the Board meeting, giving a new line item #
- Add all paid bills to spreadsheet.
- Add all income to spreadsheet.
- Freeze for month and start new sheet for budget through end of next month in Spreadsheet.
- Create a detailed Budget Report Spreadsheet and Budget Report Summary monthly. Archive in i3 Data Vault.
- Publish that report to the monthly Board Meeting and an appropriate Members Meeting.
Yearly Budget Creation
- Distrubute instructions to Wardens and interested members on how to submit a budget item for submission.
- Forecast the General and Special Events budget submission form historical trends.
- Aggregate all budget submissions into a master spreadsheet and deliver that to the Board prior to the Annual Budget Meeting.
- Preside over the Annual Budget Meeting in which the Board create the Budget for the new cycle.