HOWTO Chair the Budget Committee

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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.

Budgeting Processing

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
  • 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/
  • END

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 #

Budget Reporting

  • 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.