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.
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.
- Confirm receipt of the initial email to payee.
- Make sure purchase is authorized and all data is in.
- Make a WORD document following the form. Set filename to (payeename.amount.doc)
- Group new/open reimbursements into weekly email of a check request to the Treasurer with payeename, amount and USPS address for all requests.
- Email to payee that request has been approved.
- Insert approved request into budget spreadsheet. Color Yellow.
- When check has been cut Treasurer emails Budget assistant.
- Upon receipt of email from Treasurer, inform payee by email that check should be there in 10 days, if not please contact Budget assistant.
- Mark Purple in budget spreadsheet. Move expense to month of check cut.
- Followup with payee until email confirmation of receipt of check
- Mark Green in budget spreadsheet.
- Move word doc to i3DataVault Admin/Budget/Reimbursements/
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 #
- 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.