Budget Committee

Purpose

The Budget Committee assists in the creation and adoption of the Association Annual budget.

Authority

The committee has no expressed or implied power or authority.

Membership

  • The Treasurer shall chair the committee.
  • The Operations Director shall serve as staff to the committee.
  • The following committee chairs shall serve as a members of the committee:
    • Sponsorship
    • Educational Events
    • Membership
  • The president shall appoint one director as the board liaison. The board liaison is a non-voting member of the committee.
  • The board shall appoint other committee members. The committee chair will follow the volunteer recruitment process and recommend members to the board of directors for appointment.
  • The committee may include non-director and non-member persons whose experience in accounting, finance or business may assist the committee and the board in the performance of their financial oversight responsibilities.

Responsibilities

  • Ensure that the process of planning for and preparing the annual operating budget is documented, reviewed and updated as needed.
  • Publish standardized budget request template for committee use.
  • Establish and maintain an annual budget planning process as follows:
    • July:
      • Call for and receive all budget requests from association stakeholders.
    • August:
      • Seek additional information from requestors as needed.
      • Review requests and provide the Operations Director a list of budget items to be funded.
    • September-October:
      • Review draft budget proposed by staff.
      • Refine budget by collaboratively prioritizing requests based on alignment with the Association’s mission, strategic plan and financial estimates.
      • Taking into account staff feedback, anticipated revenue, base operating expenses, requested expenditures and overall financial goals, propose a
        draft budget.
      • Document requests not funded in budget with rationale for decision for suggested exclusion.
      • Send the draft budget to the Finance Committee, and solicit feedback and field questions, suggestions, etc.
    • November:
      • Coordinate with the Finance Committee to submit a budget, along with documentation for what’s not funded to the Board for approval.

Operations

  • Meets no fewer than four times per year, at the call of the chair of the committee or the operations director.
  • Maintains minutes of all meetings.
  • Reviews this charter annually and recommends changes to the board of directors.
  • Follows association policies and procedures.
  • Establishes and maintains documentation about committee roles and procedures, including how this committee collaborates with others.
  • Communicates and collaborates with other association committees and board of directors to accomplish association goals.
  • Provides quarterly updates to the board of directors.