Budget and Finance Committee

The Standard Operating Procedures Manual for MBCA, Section 8,  provides for the responsibility of the Budget and Investments (Finance) Committee.  The manual states:

"The Budget Committee is made up of National Board members, with the Treasurer serving as Chairman. The President, Vice President and Treasurer, as well as 3 RDs chosen by the RDs on a rotating basis at the Spring Board Meeting, attend the Budget Meeting at NBO, if held. This Committee is responsible for the fiscal year budget and any amendments thereto. The committee is responsible for review of NBO records to assure that legal tax filings were and are being made.

The Executive Director, working with the National President, prepares the PROPOSED budget and distributes the first draft to the Budget Committee prior to the Budget Meeting. Since the new fiscal year budget is finalized at the Budget Meeting, the Treasurer must have all budget items no later than August 31st of each year and will request each member of the Board to submit their budget requests for the upcoming fiscal year by August 31st for consideration at the Budget Meeting. A budget call from Committee Chairmen and Appointed Officials should also be requested for submission to the Executive Director so the proposals can be included in the proposed budget.

Final approval of any budgetary actions is vested with the National Board. Therefore, following the Budget Meeting the Executive Director will prepare the final draft of the proposed budget as set forth by the Budget Committee, and distribute it for comment to the National Board no later than two weeks after the Budget Meeting. The National Treasurer will present Budget Committee recommendations, in the form of a motion, to the National Board for approval at the next regular Board Meeting following the Budget Meeting. Reference Section Three, Fiscal Year Budget Process, page 21. The committee shall review the Club's portfolio of investments and report to the Board on its status and possible changes to meet the Club's investment objectives."