The Finance Committee shall develop a yearly budget using inputs from the Treasurer and from the chairperson(s) of each standing committee. Each standing committee will meet with the Finance Committee to present the following information:
- Projected Expenses for the coming calendar year
- Projected Revenue for the coming calendar year
- Projected schedule of events for the coming calendar year
From this information and from projections provided by the Treasurer and other committees the Finance Committee will develop and assign a yearly budget for each committee. This budget, when approved, shall serve as a commitment from the corporation and as an allocation of funds for each committee.
The Finance Committee shall present the proposed budget to the general membership for approval and/or modification. The budget shall be provided to the general membership no less than thirty (30) days prior to any request for action on the budget at either (1) a Regular meeting of the corporation or (2) a special meeting specifically for budget presentation and action.The budget may be considered as a whole or broken down by line items at the discretion of the general membership.
The Finance Committee is responsible for presenting all requests for money from the general fund of the Corporation that are not contained within the approved yearly budget.In practice, the Finance Committee alone may rise to motion for any money not previously allocated in the then current and approved yearly budget. Requests for money directed by individual members or committees will not be recognized by the chair.
Requests for money (requisitions) outside of the approved budget must be submitted to the Finance Committee who shall:
- Review the proposed expenditure
- Determine how the expense may be met
- Recommend an action on the request
The Finance Committee shall then present the request to the Board of Directors who shall recommend an action on the request.
The Finance Committee shall then present the request and the recommendations to the General Membership who shall take final action on the request.