1. Senior Vice-Presidents’ Conference
You and Your Budget

2. Director of Accounting
George Martin
Director of Accounting
406 West 34th Street, 10th Floor
Kansas City, MO
(816) 561 – 8655 (office)
(866) 299 – 1286 (toll free)
(816) 800 – 8749 (direct)
(816) 931 – 4753 (fax)

3. Budget Information
Your Dept. Treasurer should not be chairman of the Budget Committee.
Your Dept. Treasurer shall prepare a tentative budget for financial operations for the ensuing year
The budget sets forth all estimated receipts and anticipated expenditures for the use of the Budget Committee in preparing the proposed budget
Restricted funds shall be budgeted separately in every instance (what does this mean?)
The budget shall be in balance (what does this mean?)
Once the Council of Administration approves the budget it cannot be changed
Copy of the approved budget forwarded to the National Treasurer (no later than October 1st) (This can be done electronically!)
May request an extension. The request would go to the National President via the National Secretary – Treasurer, via the Director of Accounting

4. Budget Tips When creating the budget, round amounts to whole dollars
Moving funds from savings accounts where revenue has previously been recognized cannot be counted as revenue again
When presenting the budget for approval, it is not necessary to read each line of the budget
Any large discrepancies between prior year budgeted and upcoming year budgeted amounts

5. Budget Tips
Have separate line item under revenues for miscellaneous revenues
Even if the amount budgeted is zero, this will allow to record revenues during the fiscal year that do not fit into any other revenue category
Have separate line item under expenses for miscellaneous expenses
Even if the amount budgeted is zero, this will allow to record expenses during the fiscal year that do not fit into any other expense category

7. Sec. 813C of Bylaws
Department Treasurer shall set up and maintain a dues reserve fund to which shall be credited not less than fifty percent (50%) of all current year’s dues received prior to July 1
Shall not disburse nor obligation be incurred against this fund until after July 1, at which time all money shall be transferred to the Department General Fund for expenditure

12. QUESTIONS?