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Policy:

The Treasurer, Budget Committee and Regional Council have joint responsibility for establishing and managing the annual budget of the Association, under the leadership of the President.

Procedures:

1. All officers and committee chairs receive budget sheets and prior year budget information for their area prior to the Annual Retreat. Using those documents and their own plans for the year they submit a budget request at the direction of the President.
2. The Budget Committee under the leadership of the Vice President, reviews all expenditure requests and the income projections and prepares a recommended line-item budget for the Regional Council to review, amend as necessary and approve at the Annual Retreat.
3. The Treasurer prepares a written budget status report for each Council meeting. The Council may amend the budget at Council meetings and approve over-expenditures. When over-expenditures are approved the original budget should be amended. The line-item should be marked and noted as an increase from the original budget so that projections and actual numbers can be compared as the year progresses.
4. The Budget Committee may make budget decisions and approve over-expenditures, if necessary, between Council meetings. Such actions should be reported to Council at its next meeting.
5. If possible, monthly budget reports should be sent to the Budget Committee.
6. Individual Council members are responsible to review and question all line items in the periodic budget reports for the good of the Association.
7. All Council members will act prudently with respect to income and expenditure items over which they exercise control, for the good of the Association.
8. The Treasurer is responsible for monitoring the budget and bringing to the attention of the Budget Committee serious emerging budget problems as early as possible.

Approved:

February 1994; Revised November 1998

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