Masonic Leadership Training
Organize financial planning for the lodge's goals and objectives. Prepare a budget as a guide map for planning programs and activities throughout the year. Engage the finance committee for greater support and ensure the budget is reflective of revenue, spending, and savings. Review the lodge bylaws in relation to budget and finance to establish financial goals and move towards solutions.
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Presentation Transcript
Masonic Leadership Training 9. Budgeting
Budgeting Guidance - Organize Financial planning is crucial for the lodge goals and objectives Delay only makes the situation worse and compounds Don t be afraid of the Master who raised dues or we can get by this year but next year is uncertain Be the officer team that saw the problem, studied alternatives, established financial goals and moved towards a solution
Budgeting Guidance - Organize One of the least understood and most feared principles of management is preparing a budget Your budget is a guide map for planning the programs and activities of your lodge for the entire year The process is simple The budget and finance committee
Budgeting Digest Terms 10.01 Committees of the Lodge. There shall be the following standing Committees: Finance, Vigilance, Petitions, Education, Board of Relief, Charity, and Lodge Property. 10.02 Finance Committee. The Finance Committee shall consist of the Senior Warden and up to six (6) members, including a Past Master of the Lodge, appointed by the Master, whose duty it shall be to examine and report upon all matters relating or appertaining to the financial concerns of the Lodge, which may be placed in their hands by the Lodge or any member thereof, or other person. They shall also examine carefully and fully, and report upon in writing within thirty days after the close of the Masonic year, all the books, accounts, records and vouchers of the Treasurer and Secretary, or cause all of the same to be done by some competent person recommended by the Committee and approved by the Lodge. Review and know your lodge bylaws in relation to budget and finance
Budgeting Guidance - Support For a budget to be supported it must include more than just a document prepared by the Master The finance committee is the resource for greater support Involve appropriate number of respected and knowledgeable members to ensure consideration of concerns This committee should meet at least quarterly
Budgeting Guidance - Limits Document will reflect lodge revenue, spending and savings Publish the budget to the membership At first stated communication of new calendar year provide additional copies and lead discussion Approve the budget and by doing so it becomes their spending plan not yours
Budgeting Guidance - Limits Stay within your budget If you can add, subtract and say NO you can control the budget Understand your budget timeline, remember it is for the year Handling Unexpected Expenses; assemble the finance committee first to evaluate the rest of the year Budget Limits; each category must have limits, adjustments are apart of every budget Authorized Expenditures; Insure conformity to Grand Lodge and membership approval
Budgeting Guidance - Revenue Primary source dues Notify in timely manner Form delinquent dues committee to review quarterly to assist Secretary Don t be bashful in reminding of dues payment Before suspension contact personally Include thank you letter with dues card
Budgeting Guidance - Revenue Checking account should only have the funds that are necessary to pay monthly obligations Find the highest interest rate in community for checking Retain a liquid savings account to fund unanticipated emergencies Invest remaining funds in accounts that provide the highest reasonable return in the safest possible manner
Budgeting Guidance - Revenue Fundraising options Member sources (no restrictions) Member and public sources (refer to GL220 for guidance)
Budgeting Guidance How to If not already done talk to your Treasurer and Secretary about all lodge expenditures and income from the past three five years to get an average Use this average as guidance in setting category limits Use a spread sheet, preferably electronic Estimate income Dues Interest/Dividends Stock sale Dividends Rental income Initiation, Passing, Raising and Affiliation fees Donations Fund Raisers
Budgeting Guidance How to Estimate Expenses Rent/Maintenance Utilities Stipend Trestle board printing and postage Grand Lodge Communication Travel Per-Capita Tax LYPMGC Grand Master Official Visit Masters Apron, Case & Jewel (if customary) Miscellaneious (lodge By-laws donations for deceased brothers, flowers, memorial contributions) Events (Widows Honor, Bring a friend, Past Masters, Blood Drive)
Budgeting Guidance How to Choose the programs that will be enjoyable for the majority of the members and be well attended Estimate value and benefit to determine best use of funding Use the below questions to help answer the above points: Would the majority of the members attend? Is there a cost to individuals attending? Is the distance to the event too far for most members? Is the event to late in the day? Facility accessibility? Finally, start preparing your individual event budgets for lodge approval Submit approved budget to Entertainment Committee for implementation
Budgeting Guidance How to Once revenue resources and fixed costs are determined, the plans for the lodge can find funding The funds left over after income and expense are determined leaves us with how much we can spend on programs for the year Non Fixed Expenditures or Event Budgets Printing costs Flyers and mailings Entertainment Decorations Food or refreshments
Budgeting - Example PROPOSED LODGE BUDGET FOR 20__ ___________________ Lodge #_______ Cash Carried Forward From 20__ $____.__ Estimated Income Dues, $____ each X No. of dues-paying members Fees, $____ total due for 3 degrees X No. to be raised. Rent from other organizations for use of Temple Masonic Home, $____ each X No. of dues-paying members Special Events Picnic Banquet Tickets Table Lodge Miscellaneous.. TOTAL ESTIMATED INCOME........... Column1 $ $ $ $ $ $ $ $ $ $ $ $
Budgeting - Example Estimated Expenses Grand Lodge Percapita Tax @ $7.00/dues-paying member.. Masonic Home Assessment @ $3.00/dues-paying member..... GWNMM @ $5.00/new member raised Grand Lodge Candidate Fee ($30.00/Candidate X No. raised) Grand Lodge Session (expenses). Salaries Secretary Treasurer Taxes Refreshments Postage Office Supplies. Bulletin/Trestleboard Printing (mailing service) Utilities Lights & Power Gas Telephone. Building Maintenance (lawn mowing) Masonic Supplies From Grand lodge From Macoy Flowers Newspaper Obituaries $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $
Budgeting - Example PROPOSED LODGE BUDGET FOR 20__ Estimated Expenses (continued) Masonic School Dues Lodge Picnic Table Lodge Annual Banquet Insurance Christmas Party Youth Organizations Jobies.. DeMolay. Widows & Orphans Luncheon.... Community Halloween Party.... Speakers Gifts Masters & Wardens Association Directory.. Installation Night Reception. Reception for the DDGM. Grand Master's District visit Past Master's Apron Scholarship Fund Almoner's Fund Candidates Bibles Methodical Digest (for new officers) Miscellaneous TOTAL ESTIMATED EXPENSES Targeted Balance Remaining For Next Year.. Column1 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $
Closing Make sure to get your Completion Record Signed and Dated Thanks for Attending!!
