I had a similar issue; it got worse when we changed our first meeting to a welcome picnic, at which no business was transacted. So, I started a policy of developing a preliminary budget at the last meeting of the prior year and getting that approved. That last meeting is always well-attended, since we have elections and sometimes end-of-year surplus funds to vote, also.
I'm questioning the same thing. Our fiscal year is June-July but we don't adopt a budget until our August meeting. So do I apply our financial transactions from July to last year's budget or the new one that isn't approved yet? Or is the budget year not tied to the fiscal year? So confusing.
Hi there,
Our guess is these expenses and fundraising program would have been approved last year for the current year's budget, so you should be fine. Unless these are all new and the group has not previously done them? When will the fundraiser take place? Even if this is all brand new, wondering if you are holding a fundraiser to bring in money for the group, would it cause lots of concern?
Our bylaws state that our PTO Budget must be approved at our first general membership meeting, which for us is in September. Our fiscal year starts two months earlier in July. We have some expenses that are necessary before our budget is passed. We also conduct one of our fundraisers that is listed in our budget before our budget is passed. Is it incorrect to do this, or are there steps we should be taking to get around this?
