Finances

MWPHGL of MarylandOffice of the Grand Inspector

1307 Eutaw Place, Baltimore, MD February 4, 2012

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Finance

WhatWhyWhoHow??

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What is IT?

A A B IF FAssets

AuditsBudgets

InsuranceFinances

Forecasts

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Finances

You must be aware of your current financial condition.

• Where it comes from• Where it goes

Reports•What would you

like to know?• Who should care?

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Audits

• Why? for your membership, assures them the integrity of which the funds are handled

• Why?MWPHGL requirement

• When?Due each quarter

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Budgets

• Why?• How much

time should be devoted to:– Preparing– Reporting– Updating

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Budgets

• Sample Budget

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Budgets

• Sample Budget 2 cont’dProjected Expenditures MY 2010/2011 Quantity Projected Estimated

       

400 Adm.-Bank Safe Deposit Box Annual Fee 1 $70 $70

402 Adm.-Postal Service Box Annual Fee 1 $70 $70

404 Adm.-Postal Stamps 10 $45 $450

406 Adm.-Bank Service Charges 12 $15 $180

408 Adm.-Surety Insurance Bond 1 $175 $175

410 Adm.-Secretary/Treasurer Supplies 1 $500 $500

412 Adm.-Computer System Purchases 1 $1,000 $1,000

414 Adm.-Health Food License (Charles County) 1 $50 $50

416 Adm.-Constituent Lodge Support 1 $2,000 $2,000

418 Adm.-Masonic Supplies(Gloves & Aprons) 12 $1,000 $1,000

419 Adm.-Repast @ Lodge Meetings 24 $100 $2,400

420 BldgExpense-Bldg Maintenance (Household) 12 $200 $2,400

420.02 BldgExpense-Bldg Upkeep² 1 $20,000 $20,000

420.04 BldgExpense-Bldg Insurance (F. Mutual Insur) 2 $1,000 $2,000

420.06 BldgExpense-Property Taxes 2 $140 $280

420.08 BldgExpense-Utilities: Electric (Monthly) 12 $250 $3,000

420.1 BldgExpense-Utilities: Trash Pickup (Monthly) 12 $132 $1,584

420.12 BldgExpense-Utilities: LP Gas (Kitchen Area) 12 $100 $1,200

420.14 BldgExpense-Utilities: Fuel Oil to Heat Bldg 6 $900 $5,400

420.16 BldgExpense-Utilities: Sewage Fees 4 $125 $500

420.18 BldgExpense-Utilities: Telephone /Internet/1 Call 12 $145 $1,740

420.2 BldgExpense-Security (Rentals) 15 $50 $750

440 Charity: Sick & Distress (Cards,Flowers etc.) 12 $100 $1,200

440.1 Charity: Sr. Citizens Feast (Nov 13) 1 $1,000 $1,000

440.2 Thanksgiving Baskets 10 $50 $500

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Budgets• Sample Budget 3 cont’d

480.02 MWPHGL: GL News Paper (Subscription Fee)* 118 $8 $885

480.04 MPHGL:GL Entity Fee (Sept 2010) 1 $20 $20

480.06 MWPHGL:GL Trustee Ad (Sept 2010) 1 $250 $250

480.08 MWPHGL:GL Trustee Tickets (1 for every 4)** 30 $75 $2,250

480.1 MWPHGL:Masonic Supplies 5 $250 $1,250

480.12 MWPHGL:Dispensation Fee 10 $9.50 $95

480.16 MWPHGL:Lodge of Instruction Fee 2 $30 $60

480.18 MWPHGL:GL Annual Session Registration 5 $150 $750

480.2 MWPHGL:BH Officers Hotel Expenses 5 $300 $1,500

480.22 MWPHGL:GL Hospitality Suite Contribution 1 $200 $200

480.24 MWPHGL:Per Capita Taxes (Dec 10/Jun 11) 118 $21 $2,478

480.26 118 $35 $4,130

480.28 MWPHGL:GL Charity Funds (Jun 2011) 117 $6 $702

480.3 MWPHGL:GL Scholarship Fund (Jun 2011) 118 $10 $1,180

480.32 MWPHGL: GL Raffle Program 10 (Mar 2011) 118 $30 $3,540

Total MY2010/2011     $74,027

Recapitulation      

Total Estimated Income $65,509 $21,925 $87,434

Total Estimated Expenditures $74,027 $74,027

Total @ End of Year Returns     $13,407

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Assets• What are they

…and who owns them?• What is good “stewardship”?• Who is the

Chief Steward?• If not YOU,

then who?

• What do you have?

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Insurance

• What is it?– Transfers risk of loss to

another party– Provides fidelity coverage

on officers who handle funds

• Do you know what items are covered and what it would cost to replace them?

• Take the visual tour of your establishment

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Forecasts

• Road map for your future• YOUR forecast

For example: Dues increases

• You have to plan for your future or you won’t know where you’re going, how

you will get there or whether you’re on schedule.

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CHARGE“The honor, reputation and usefulness of your

organization will materially depend upon the skill and assiduity of which you manage it’s concerns…”

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Your organization is not all about money; however, proper financial management is

your responsibility. Your organizations growth and programs depend on the

funds available to guide it into the future.

Questions?