>Priorities for Allocation of Funds at the End of the Fiscal Year
The Meeting does not have enough money for all of the things its members would like to do, and its finances are somewhat precarious. As a young meeting, we do not have a large permanent endowment to fall back on. These considerations counsel us to husband our resources carefully.
To this end the Finance Committee respectfully proposes the following policy:
- Proposed Policy
- The collection of contributions to Meeting varies widely
from month to month, and emergencies requiring unusual expenditures
occasionally arise. To provide for these contingencies, at the end
of each fiscal year the treasurer shall disburse all funds remaining
in the general account as follows:
- First, pay the rent for the first month of the next fiscal year.
- Next, set aside two month's operating expenses for the next fiscal year to cushion variations in contributions and provide for any emergency expenditures (see notes 1 to 3 below).
- Next, repay any money borrowed from the Building Fund during the current fiscal year for emergency expenses.
- Next, pay scheduled amount to Building Fund for past borrowing (see budget for current amount).
- Next, make scheduled outreach payments as possible, beginning with category A (Quaker organizations).
- Finally, pay any surplus into the Building Fund.
- In the first year this policy is implemented only one month's operating expenses will be required.
- A ``month's operating expenses'' will be taken as the average monthly expenditures for one year.
- After two years, the committee will reevaluate the effectiveness of this policy.
- Minuted in Committee
- 11 August 2008.
- Notes
- Scheduled repayment to building fund was to be $1,500 as of fiscal year 2007-08. One month's operating expenses in that year was $3,567. After paying the rent for June 2008, $3,003 remained--less than one month's operating expenses--and not enough to make any repayments to the Building Fund or any outreach payments. Events have proved reserving the $3,003 for the next fiscal year was a wise decision.