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

2. ? ? 2 Finance What Why Who How ? ?

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

4. 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. 5 Audits Why? for your membership, assures them the integrity of which the funds are handled Why? MWPHGL requirement When? Due each quarter

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

7. 7 Budgets Sample Budget

8. 8 Budgets Sample Budget 2 cont’d Projected Expenditures MY 2010/2011QuantityProjectedEstimated 400 Adm.-Bank Safe Deposit Box Annual Fee1$70 402 Adm.-Postal Service Box Annual Fee1$70 404 Adm.-Postal Stamps10$45$450 406 Adm.-Bank Service Charges12$15$180 408 Adm.-Surety Insurance Bond1$175 410 Adm.-Secretary/Treasurer Supplies1$500 412 Adm.-Computer System Purchases1$1,000 414 Adm.-Health Food License (Charles County)1$50 416 Adm.-Constituent Lodge Support1$2,000 418 Adm.-Masonic Supplies(Gloves & Aprons)12$1,000 419 Adm.-Repast @ Lodge Meetings24$100$2,400 420 BldgExpense-Bldg Maintenance (Household)12$200$2,400 420.02 BldgExpense-Bldg Upkeep²1$20,000 420.04 BldgExpense-Bldg Insurance (F. Mutual Insur)2$1,000$2,000 420.06 BldgExpense-Property Taxes2$140$280 420.08 BldgExpense-Utilities: Electric (Monthly)12$250$3,000 420.1 BldgExpense-Utilities: Trash Pickup (Monthly)12$132$1,584 420.12 BldgExpense-Utilities: LP Gas (Kitchen Area)12$100$1,200 420.14 BldgExpense-Utilities: Fuel Oil to Heat Bldg6$900$5,400 420.16 BldgExpense-Utilities: Sewage Fees4$125$500 420.18 BldgExpense-Utilities: Telephone /Internet/1 Call12$145$1,740 420.2 BldgExpense-Security (Rentals)15$50$750 440 Charity: Sick & Distress (Cards,Flowers etc.)12$100$1,200 440.1 Charity: Sr. Citizens Feast (Nov 13)1$1,000 440.2 Thanksgiving Baskets10$50$500

9. 9 Budgets Sample Budget 3 cont’d 480.02 MWPHGL: GL News Paper (Subscription Fee)*118$8$885 480.04 MPHGL:GL Entity Fee (Sept 2010)1$20 480.06 MWPHGL:GL Trustee Ad (Sept 2010)1$250 480.08 MWPHGL:GL Trustee Tickets (1 for every 4)**30$75$2,250 480.1 MWPHGL:Masonic Supplies5$250$1,250 480.12 MWPHGL:Dispensation Fee10$9.50$95 480.16 MWPHGL:Lodge of Instruction Fee2$30$60 480.18 MWPHGL:GL Annual Session Registration5$150$750 480.2 MWPHGL:BH Officers Hotel Expenses5$300$1,500 480.22 MWPHGL:GL Hospitality Suite Contribution1$200 480.24 MWPHGL:Per Capita Taxes (Dec 10/Jun 11)118$21$2,478 480.26 118$35$4,130 480.28 MWPHGL:GL Charity Funds (Jun 2011)117$6$702 480.3 MWPHGL:GL Scholarship Fund (Jun 2011)118$10$1,180 480.32 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 Total @ End of Year Returns $13,407

10. 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. 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. 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. 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. 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.

15. Questions?