1. South Carolina State Meeting South Atlantic Region April 21, 2018
BUDGETING 101
South Carolina State Meeting
South Atlantic Region
April 21, 2018

2. OVERVIEW ▲ What is a Budget
OVERVIEW ▲ What is a Budget? ▲ Roles and Responsibilities ▲ The Budgeting Process ▲ Preparing the Budget ▲ Contacts/Resources

3. What is a budget?
Budget = Spending Plan Estimate of income and expenses for a set period of time.

4. The chapter should operate on a
Zero-Based Budget
The chapter should operate on a
zero-based budget.
The point of a zero-based budget is to make income minus the expenses equal zero. This means that money not only needs to be budgeted, but also that one must not spend money that is not there to spend.

5. Roles and Responsibilities
Budget/Finance Committee - plan, evaluate and recommend the annual budget to the chapter by May.
Committee Chairs/Executive Board - develop budgets for each program or activity and submit to the Finance
Although final responsibility for the budget rests with the Budget/
Finance Committee, Al committee chairs and members of the chapter’s Executive Board/
should be involved in creating a workable and acceptable plan of action.

6. Establish goals and objectives Review Chapter policies and procedures
The Budgeting Process
Establish goals and objectives
Review Chapter policies and procedures
Review the current year’s budget to actual reports.
Request, receive and review budget estimates from program/committee chairs.

7. Committee/Program Budget Request
A budget for each program or activity should be developed by the respective committee and submitted to the Finance Committee.
A budget request worksheet should be provided to each committee well in advance
The worksheet should include the name of the committee/program,
type of activity, objectives and goals. It should provide anticipated
revenues and expenses, both monetary and in-kind.

8. Chapter-Votes on Budget in May

9. Preparing the Budget
The chapter budget relates to the expenses needed to execute its
planned activities for the ensuing year. It is comprised of the
following:
Income anticipated to be received
Expenses for the administrative operations of the chapter
Expenses relating to the implementation of chapter programs
and committees activities.
4. Budget on a line-item basis by category.

10. Preparing The Budget
5. Develop or Modify committee/program budgets based on fiscal knowledge and limitations.
6. Prepare a consolidated annual chapter zero base budget.
7. Present to Executive Board & Chapter for review and vote to accept.
8. Review and recommend budget modifications at some specified interim period.

11. Expense Line Items to include:
National Dues
Per Capita Fees
Bonding Insurance
Liability Insurance
National/ Regional Corporate Fees
Annual Audit/Review Expenses
Convention/Conference Delegate Expenses
Fundraising Expenses
Program/Committee Expenses
Administrative Expenses
Bank Fees

12. Income line items include:
National Dues
Local Dues
Fundraising Activities
Jabberwock
Dances
Luncheons
Raffles
Car Washes
Grants
Donations

13. Budgeting Process Summary
Committee Chairs submit budget requests to Budget/Finance Committee
Finance Committee considers budget requests, current year actual revenues and expenditures and the number of financial members
Finance Committee creates a proposed budget
Finance Committee Chair presents the budget to the Executive Board for approval.
The approved budget is then presented to the chapter by May
Budget & Finance Committee Proposal
Current Year Expense
Membership
Committee Budget Request
Budget & Finance Committee prepares proposal
Executive Board approves proposed budget
Chapter approves budget by the MAY meeting

14. Sample Budget

15. Budget Adjustment Procedures
Committee chairs should be provided with regular updates as to how much is left in their budget
Committee chairs should submit requests for budget revisions prior to the quarterly budget and finance committee meeting
Budget and finance committee should meet quarterly to review budgets and prepare proposed budget adjustments
Budget updates should be presented to the executive board and approved by the chapter at least quarterly

16. Resources Accounting Software Chapter Calendar Prior FY Budgets
Chapter Management Handbook
Chapter Rules of Order
Constitution and By laws
Fiscal Officers Manual

17. Questions?

18. National Finance Committee
National Treasurer
Deborah Jones-Buggs,
Chair, National Finance Committee
Doreen A. Dixon, MS,
Members, National Finance Committee
Barbara L. Bagneris,
Victoria I. Brown, Collegiate
Rosalyn Glenn,
Pamela Hill, MAcc,
Helen Hill-Neely,
Katrina M. Hubbard, MS,
Tanya C. Smith,
Juliet K. Williams,