Understanding Budgets RSLNSW 23 May 2011 Presented by: Kirsten Forrester. Today… . 9.00am Welcome and introductions Constitution changes Budgets – the big picture How to budget The budget as a financial management tool 12.00pm Lunch 1.00pm Administration seminar continues. Purpose.
23 May 2011
Presented by: Kirsten Forrester
9.00am Welcome and introductions
1.00pm Administration seminar continues
Each sub-Branch Trustee must keep detailed records of all transactions relating to any property of the sub-Branch under their control.
Each sub-Branch Trustee must submit the accounts together with all title documents, securities, mortgage or charges to the sub-Branch President, sub-Branch Auditors or other sub-Branch Officer as required from time to time.
The sub-Branch Trustees must not:
(i) make a donation or gift of $5,000 or more and may not make donations or gifts totalling $50,000 or more in any one calendar year
(ii) incur an expense of $20,000 or more on any single item, activity or event and may not incur expenses totalling $50,000 or more in any one calendar year
(iii) lend to any person or body or invest money totalling $5,000 or more in any one calendar year
without State Council prior written consent.
Each sub-Branch must maintain accounts of all money received and expended by the sub-Branch and of all assets and liabilities of the sub-Branch, including any mortgages, charges or securities affecting its property in accordance with the By-Laws and Regulations.
Subject to clause 36.2, a sub-Branch must at the annual general meetings of the sub-Branch either:
(a) elect two honorary auditors; or
(b) appoint an auditor who is a suitably qualified accountant…,
to inspect the accounts, books, vouchers and securities of the sub-Branch and verify them against the statement of financial position.
Each sub-Branch must… by 31 March each year:
(a) lodge with RSL NSW SBA1, SBA2 and SBA3.
(b) ensure that any Subsidiary associated with the sub-Branch, has forwarded an audited copy of its annual financial statements to the sub-Branch
3.30 It is compulsory for a sub-Branch that has a total amount of all expenditure… exceeding $50,000.00 in aggregate in any one financial year to submit a budget for approval to State Council / Executives.
3.31 Budgeting is simply the process of planning the sub-Branch’s finances for a 12 month period. The budget is made up of all the activities you plan to undertake in the next 12 months expressed in terms of money. Budgets should be drawn up for the calendar year.
3.32 Best practice guidelines require all sub-Branches to prepare a budget and present it to the AGM for acceptance.
3.32 The Treasurer is responsible for drafting the budget with input from other executive and committee members, as required.
3.32 Once accepted, the Treasurer is responsible for keeping track of income and expenditure and how the figures match budget expectations.
Annex D to Chapter 3
RSL NSW Governance Regulation
A prediction of the aspirations, dreams and fears of the financial future of the organisation.
A. This is calculated on a conservative return after reinvestment of X%.
B. This is included simply for comparison & reference purposes to 200? Income and should be deleted for 200?
Voluntary donations to support the operating costs of the Welfare Bus.
All costs associated with the running of the bus are including registration, insurance and servicing.
Replacement and additional computers for Secretary and Welfare Pensions Officers & office furniture