Request for Budgets

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To MFS Organisers

Introduction

If we are to expand and grow, and attract and retain activities run by good organisers, we need clarity and certainty around our authorisation of people to make decisions and act on them. At the same time, we need openness and transparency of all our operations so that the MFS Committee can exercise responsible oversight of the affairs of the society as a whole. We also have statutory requirements that all financial transactions of the society are included in our reporting and able to be audited.

Financial Reporting Policy

To this end, the MFS Committee has decided to adopt the Financial Management Reporting policy published at: MFS Financial Reporting Policy

Part of the policy is the requirement for each area of the society to provide a budget to the Treasurer. The Treasurer will help and advise on the preparation of budgets, and when agreed by the Treasurer they will be presented by the Treasurer to the MFS Committee for approval. Approved budgets will be published on the MFS Members' web site

Budget Approval

Your budget will be either agreed, or returned with appropriate advice for reworking. Approved budgets will be published on the members' site along with financial results.

Budget approvals stand until they are replaced by a new budget approval, or they are revoked

Why Submit a Budget?

It is important that you submit a budget, even if it is a nil return, because this will show that you are running an MFS activity, thus providing all the protections that go with running activities as part of an incorporated body. It is also important because the honouring of public liability insurance claims may depend on satisfying our insurance company or a court of law that the event under which the claim is made is indeed a wholly owned event of the MFS. The requirement to submit a budget applies to all MFS organisers. It is clearly in event organisers' interests that there be no doubt on this score.

Content of Budget

As a preamble to your budget, please set out for the record as applicable:

- Your area of responsibility and its goals and objectives

- The office bearer(s) and membership of your committee

- Any issues, planned initiatives, actions requested from the MFS Committee, etc, for the new budget period.

Budgets should be sent to the Treasurer by email (treasurer(at)mfs(dot)org(dot)au). Where there is an organising team responsible, please obtain that organising team's agreement before submitting the budget.

A worked example is available to assist you in preparing your budget, in

Google Spreadsheet Format , and
Microsoft Word Format


The Treasurer is happy to clarify, discuss or provide help at any time.

see also:
Approved Budgets and Accepted Reports (published on members-only site)
Organiser and Member Activities Register - Monaro Folk Society
MFS Financial Reporting Policy


Content Manager: MFS Committee

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