Message Boards

×

Notice

The forum is in read only mode.

Welcome to the Message Boards
Join the conversation! No soliciting or ads, please. Registration is not required but encouraged to get the most out of our community features.

×
Looking for advice? Join us on Facebook

Get advice, ideas, and support from other parent group leaders just like you—join our closed Facebook group for PTO and PTA Leaders & Volunteers .

spending before budget is passed

5 years 11 months ago #170286 by ConfusedOnFinances
spending before budget is passed was created by ConfusedOnFinances
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?
5 years 11 months ago #170296 by Rose H
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?

Rose
5 years 8 months ago #170533 by Sarah Asbach
Replied by Sarah Asbach on topic spending before budget is passed
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.
5 years 8 months ago #170534 by Sarah Asbach
Replied by Sarah Asbach on topic spending before budget is passed
^^^Our fiscal year is July-June, rather.
5 years 6 months ago #170823 by gjcoram
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.
The following user(s) said Thank You: Rose H
Time to create page: 0.053 seconds
Powered by Kunena Forum
^ Top