Finances MWPHGL of Maryland Office of the Grand Inspector 1307 Eutaw Place, Baltimore, MD February 4, 2012

? ? 2 Finance What Why Who How ? ?

3 What is IT? AA BI FF Assets Audits Budgets Insurance Finances Forecasts

4 Finances You must be aware of your current financial condition. Where it comes from Where it goes Reports What would you like to know? Who should care?

5 Audits Why? for your membership, assures them the integrity of which the funds are handled Why? MWPHGL requirement When? Due each quarter

6 Budgets Why? How much time should be devoted to: – Preparing – Reporting – Updating

7 Budgets Sample Budget

8 Budgets Sample Budget 2 cont’d Projected Expenditures MY 2010/2011QuantityProjectedEstimated 400 Adm.-Bank Safe Deposit Box Annual Fee1$ Adm.-Postal Service Box Annual Fee1$ Adm.-Postal Stamps10$45$ Adm.-Bank Service Charges12$15$ Adm.-Surety Insurance Bond1$ Adm.-Secretary/Treasurer Supplies1$ Adm.-Computer System Purchases1$1, Adm.-Health Food License (Charles County)1$ Adm.-Constituent Lodge Support1$2, Adm.-Masonic Supplies(Gloves & Aprons)12$1, Lodge Meetings24$100$2, BldgExpense-Bldg Maintenance (Household)12$200$2, BldgExpense-Bldg Upkeep²1$20, BldgExpense-Bldg Insurance (F. Mutual Insur)2$1,000$2, BldgExpense-Property Taxes2$140$ BldgExpense-Utilities: Electric (Monthly)12$250$3, BldgExpense-Utilities: Trash Pickup (Monthly)12$132$1, BldgExpense-Utilities: LP Gas (Kitchen Area)12$100$1, BldgExpense-Utilities: Fuel Oil to Heat Bldg6$900$5, BldgExpense-Utilities: Sewage Fees4$125$ BldgExpense-Utilities: Telephone /Internet/1 Call12$145$1, BldgExpense-Security (Rentals)15$50$ Charity: Sick & Distress (Cards,Flowers etc.)12$100$1, Charity: Sr. Citizens Feast (Nov 13)1$1, Thanksgiving Baskets10$50$500

9 Budgets Sample Budget 3 cont’d MWPHGL: GL News Paper (Subscription Fee)*118$8$ MPHGL:GL Entity Fee (Sept 2010)1$ MWPHGL:GL Trustee Ad (Sept 2010)1$ MWPHGL:GL Trustee Tickets (1 for every 4)**30$75$2, MWPHGL:Masonic Supplies5$250$1, MWPHGL:Dispensation Fee10$9.50$ MWPHGL:Lodge of Instruction Fee2$30$ MWPHGL:GL Annual Session Registration5$150$ MWPHGL:BH Officers Hotel Expenses5$300$1, MWPHGL:GL Hospitality Suite Contribution1$ MWPHGL:Per Capita Taxes (Dec 10/Jun 11)118$21$2, $35$4, MWPHGL:GL Charity Funds (Jun 2011)117$6$ MWPHGL:GL Scholarship Fund (Jun 2011)118$10$1, MWPHGL: GL Raffle Program 10 (Mar 2011)118$30$3,540 Total MY2010/2011 $74,027 Recapitulation Total Estimated Income$65,509$21,925$87,434 Total Estimated Expenditures$74,027 End of Year Returns $13,407

10 Assets What are they …and who owns them? What is good “stewardship”? Who is the Chief Steward? If not YOU, then who? What do you have?

11 Insurance What is it? – Transfers risk of loss to another party – Provides fidelity coverage on officers who handle funds Do you know what items are covered and what it would cost to replace them? Take the visual tour of your establishment

12 Forecasts Road map for your future YOUR forecast For example: Dues increases You have to plan for your future or you won’t know where you’re going, how you will get there or whether you’re on schedule.

13 CHARGE “The honor, reputation and usefulness of your organization will materially depend upon the skill and assiduity of which you manage it’s concerns…”

14 Your organization is not all about money; however, proper financial management is your responsibility. Your organizations growth and programs depend on the funds available to guide it into the future.

Questions?