- Gather all records of revenues and expenses from the past 2 – 3 years
- Use an Excel spreadsheet if possible
- Record all the money that came into your council (Revenue)
- Include membership fees, fundraising, interest etc
- Record all payments made by your council (Expenses)
- Group like expenses together under categories; ie office supplies, gifts, kitchen supplies, donations etc
- This will give you a history of your financial records
- This will give you a history of your financial records
- Next record any special revenues or expenses that you expect this upcoming year
- For example - perhaps it is your 50th anniversary and you are planning a special event
- Then estimate what revenues and expenses you will have this coming year based on the information you have gathered.
- Follow your council’s policy and procedures
- It is important that when you subtract the Expenses from the Revenue the number is balanced to zero
- Refer to Guideline for Treasurers on the National Website for an example budget
What’s next?
- Present your budget at a meeting that has a quorum in attendance
- Pass a motion to accept the budget
- It is a good idea to present quarterly to your council of the status of your budget compared to your actual revenues and expenses
- If necessary adjust your budget and pass a motion (only necessary for large differences)
Jan Morel, Treasurer
