Financial Policies

Yearly budgets for the program and year-round support circles

• Each circle puts together an itemized budget request for their estimated yearly expenses by February 1 and sends it to the Financial Circle. It’s okay to add $50–100 for unforeseen expenses that can't be itemized.
• The Financial Circle evaluates the budget and suggests changes to the circle if necessary. The Financial Circle sends the adjusted budget to the Council by March 1, together with recommendations based on the expenses of the previous year and the overall financial situation.
• The Council discusses yearly budgets during the March meeting. If a budget is not approved by the Council, the Council will inform both the circle concerned and the Financial Circle soon after the meeting.
• Itemized budget amounts should be spent on the items they were budgeted for. But, if needed, circles can move money around from one itemized category to another without approval for amounts up to $100. (For example, $100 originally budgeted for marketing flyers can be spent on creating a marketing video that cost $100 more than originally budgeted for.) The circle’s overall budget amount approved by the Council still applies.
• If any unforeseen expenses that were not budgeted for come up during the year (for a new project, for example), a special budget request can be submitted to the Financial Circle. This request must be submitted at least 2 months in advance of the time the money is needed. The Financial Circle can approve unforeseen expenses up to $100 without first informing the Council, and can instead report it to the Council at the next scheduled meeting. Requests for unforeseen project expenses higher than $100 need to be approved by the Council first.

Budget Overdraft

The Financial Circle can authorize and reimburse the overdraft of a specific budget-item up to 10% (but $50 maximum) without consulting the Council. If the overdraft amount is greater than 10% or $50, the Council needs to approve. If a circle or person is overdrafting the budget more than once, the Council needs to be informed.