2014 Line Officers SeminarCreate Commandery Budget

$NCOME EXPENSE$

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WHAT IS A BUDGET?

A BUDGET is a SIMPLE BALANCE $HEET

2014 Line Officers SeminarCreate Commandery Budget

WHY PREPARE a BUDGET?

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SIMPLE:YOU DON’T WANT TO RUN OUT OF MONEY!

2014 Line Officers SeminarCreate Commandery Budget

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WHAT YOU NEED TO CREATE BUDGET?

Spending & Income HistoryPrior Year Income from Donations, Fund Raisers

Prior Year Expenses (Bank Statements) (Recorder & Commander Signs Checks Each Month)

Pencil, Pad, CalculatorPC Spreadsheet (Excel)Budget / Finance Software (Quicken)

2014 Line Officers SeminarCreate Commandery Budget

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CREATE SIMPLE BUDGET for HYPOTHETICAL COMMANDERY

No. 2013100 Members at End of Fiscal YearCommandery Dues =$56.00(=$30 Local, $16 GC, $9 GE, $1 Eye Foundation)

50 Life Eye MembersSmall Investment PortfolioOne Fund Raiser per YearFive Knightings per YearPays Rent to Landlord

2014 Line Officers SeminarCreate Commandery Budget

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WORK on INCOME FIRST:

DUES 100 Members X $56 = 5600

Knighting Fees (5 at $20)= 100 Investments = 100

Misc. Donations = 100

Fund Raisers= 100

TOTAL INCOME = $6000

Transfer to Budget

INCOME $Dues 5600

Knighting Fee 100

Investments 100

Misc Donations 100

Fund Raisers 100

TOTAL INCOME 6000

2014 Line Officers SeminarCreate Commandery Budget

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(Income From Work Sheet)

2014 Line Officers SeminarCreate Commandery Budget

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EXPENSE$ COME in TWO FLAVORS 1. Non-DISCRETIONARY

MUST PAY

GC and GE Assessments

Rent

Taxes

2012 Line Officers SeminarCreate Commandery Budget

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2. DISCRETIONARY

OPTIONAL To PAY

PC Jewel & BoardsRefreshments

Charity DonationsNew Regalia

2014 Line Officers SeminarCreate Commandery Budget

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Non-DISCRETIONARY EXPENSE$ WORK SHEETAssessments:GC 100 Members X $16.00 = 1600 GE 100 Members X $9.00 = 900 Eye Foundation (Assume 50 Life Members)= 50Knighting Fee 5 S.K.s x $5= 25 Fixed Expense:Rent = 500Salary & Taxes= 300 Notices = 500Insurance= 125

TOTAL Non-DISCRETIONARY EXPENSES= $4000Transfer To Budget

INCOME $ $ EXPENSES

Dues 5600 1600 GC Assessment

Knighting Fee 100 900 GE Assessment

Investments 100 50 Eye Foundation

Misc Donations 100 25 Knighting Fee

Fund Raisers 100 500 Rent

300 Salary & Taxes

500 Notices

125 Insurance

TOTAL NON-DISCRETION

TOTAL INCOME 6000 4000 EXPENSE

Cash to Run Commandery

6000 – 4000= $2000

2014 Line Officers SeminarCreate Commandery Budget

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Non-DiscretionaryExpenses (From Work Sheet)

2014 Line Officers SeminarCreate Commandery Budget

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DISCRETIONARY EXPENSE$ WORK SHEETNew Regalia (New Banner, Officer Jewels) 400Conclave Meals/Refreshments 200 Installation Expense 200Special Events (Xmas, GC Visit ) 500 PC Jewel / Boards 200Literature Purchases(Manuals, Constitutions) 100 Petty Cash (Postage, Copies) 100Misc Unidentified Expense 300

TOTAL DISCRETIONARY EXPENSES= $2000

Transfer To Budget

2014 Line Officers SeminarCreate Commandery Budget

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INCOME $ $ EXPENSES

TOTAL INCOME 6000 4000 N.D EXPENSE

D. EXPENSE

400 Regalia

200 Meals

200 Installation

500 Special Events

200 PC Jewel

100 Literature

100 Petty Cash

300 Misc Expense

2000 TOTAL

BUDGET BALANCES

$6000 $6000

DiscretionaryExpenses(From Work Sheet)

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HYPOTHETICAL SIMPLIFIED COMMANDERY BUDGETAssume 100Members on March 31 (End of FY)Local Dues $56.00TOTAL LOCAL COMMANDERY DUES (Set by By-Laws)

INCOME EXPENSES $1,600.00Grand Commandery Assessment (100 X $16 Each) $900.00Grand Encampment Assessment (100 X $9 Each) $25.00Knighting Fee (5 New S.K. X $5 Each)

Local Assessment $50.00Eye Foundation (Assume 50 Life Members)(100 S.K. X $56 Each) $5,600.00 $2,575.00 TOTAL ASSESSMENT EXPENSE Note: $500.00Rent COMMANDERY CASH AFTER ASSESSMENT Notice Printing & Mailing:

$3,025.00 $500.00100 Members x 10 Notices X $0.50 Print & Mail per Notice

$300.00Recorder Salary & Income Taxes

Knighting Fees (Assume 5 New S.K at $20) $100.00 $125.00Insurance

$4,000.00 TOTAL NON-DISCRETIONARY EXPENSEInvestment Income $100.00 $400.00New Regalia (Jewels, Uniforms, Banners, etc).

$200.00Conclave Meals / RefreshmentsMisc Contributions $100.00 $200.00Installation Expence (Bugler, Wine, Flowers, etc)

$500.00Special Events (Xmas, Easter, GC Visit)Fund Raisers $100.00 $200.00PC Jewel & Boards

$100.00Literature Purchases (Constitutions, D & T Manuals, etc) $100.00Petty Cash Expense (Postage, Copies, Envelopes, etc)

$300.00Misc Unidentified Expense TOTAL INCOME $6000.00 $2,000.00 TOTAL DISCRETIONARY EXPENSE

2014 Line Officers Seminar

Create Commandery Budget

TOTAL INCOME $6,000.00 = $6,000.00 TOTAL EXPENSES

2014 Line Officers SeminarCreate Commandery Budget

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A BUDGET IS A DESTINATION

BUDGETING IS A JOURNEY