Understanding Commandery Budgeting: A Practical Guide for Financial Management

Learn about budgeting for a Commandery with a simple balance sheet approach. Discover why preparing a budget is essential to avoid running out of money. Find out what you need to create a budget and work on the income and expenses for a hypothetical Commandery. Gain insights into different types of expenses and how to allocate funds effectively for sustainability.

• Commandery Budget
• Financial Management
• Budgeting Basics
• Expense Allocation
• Financial Planning

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1. 2014 Line Officers Seminar Create Commandery Budget WHAT IS A BUDGET? A BUDGET is a SIMPLE BALANCE $HEET $NCOME EXPENSE$ 1

2. 2014 Line Officers Seminar Create Commandery Budget WHY PREPARE a BUDGET? SIMPLE: YOU DON T WANT TO RUN OUT OF MONEY! 2

3. 2014 Line Officers Seminar Create Commandery Budget WHAT YOU NEED TO CREATE BUDGET? Spending & Income History Prior Year Income from Donations, Fund Raisers Prior Year Expenses (Bank Statements) (Recorder & Commander Signs Checks Each Month) Pencil, Pad, Calculator PC Spreadsheet (Excel) Budget / Finance Software (Quicken) 3

4. 2014 Line Officers Seminar Create Commandery Budget CREATE SIMPLE BUDGET for HYPOTHETICAL COMMANDERY No. 2013 100 Members at End of Fiscal Year Commandery Dues =$56.00 (=$30 Local, $16 GC, $9 GE, $1 Eye Foundation) 50 Life Eye Members Small Investment Portfolio One Fund Raiser per Year Five Knightings per Year Pays Rent to Landlord 4

5. 2014 Line Officers Seminar Create Commandery Budget WORK on INCOME FIRST: DUES 100 Members X $56 = 5600 Knighting Fees (5 at $20)= 100 Investments = 100 Misc. Donations = 100 Fund Raisers= 100 TOTAL INCOME = $6000 Transfer to Budget 5

6. 2014 Line Officers Seminar Create Commandery Budget INCOME $ Dues 5600 Knighting Fee 100 Investments 100 Misc Donations 100 Fund Raisers (Income From Work Sheet) 100 TOTAL INCOME 6000 6

7. 2014 Line Officers Seminar Create Commandery Budget EXPENSE$ COME in TWO FLAVORS 1. Non-DISCRETIONARY MUST PAY GC and GE Assessments Rent Taxes 7

8. 2012 Line Officers Seminar Create Commandery Budget 2. DISCRETIONARY OPTIONAL To PAY PC Jewel & Boards Refreshments Charity Donations New Regalia 8

9. 2014 Line Officers Seminar Create Commandery Budget Non-DISCRETIONARY EXPENSE$ WORK SHEET Assessments: GC 100 Members X $16.00 = GE 100 Members X $9.00 = 900 Eye Foundation (Assume 50 Life Members)= 50 Knighting Fee 5 S.K.s x $5= 25 Fixed Expense: Rent = 500 Salary & Taxes= 300 Notices = 500 Insurance= 125 TOTAL Non-DISCRETIONARY EXPENSES= $4000 Transfer To Budget 1600 9

10. 2014 Line Officers Seminar Create Commandery Budget INCOME $ $ EXPENSES Dues 5600 1600 GC Assessment Knighting Fee 100 900 GE Assessment Investments 100 50 Eye Foundation Misc Donations 100 25 Knighting Fee Fund Raisers 100 500 Rent 300 Salary & Taxes 500 Notices 125 Insurance TOTAL NON- DISCRETION Non-Discretionary Expenses (From Work Sheet) TOTAL INCOME 6000 4000 EXPENSE Cash to Run Commandery 6000 4000= $2000 10

11. 2014 Line Officers Seminar Create Commandery Budget DISCRETIONARY EXPENSE$ WORK SHEET New Regalia (New Banner, Officer Jewels) 400 Conclave Meals/Refreshments 200 Installation Expense 200 Special Events (Xmas, GC Visit ) 500 PC Jewel / Boards 200 Literature Purchases(Manuals, Constitutions) 100 Petty Cash (Postage, Copies) 100 Misc Unidentified Expense 300 TOTAL DISCRETIONARY EXPENSES= $2000 Transfer To Budget 11

12. 2014 Line Officers Seminar Create Commandery Budget INCOME $ $ EXPENSES TOTAL INCOME 6000 4000 N.D EXPENSE D. EXPENSE 400 Regalia 200 Meals 200 Installation 500 Special Events 200 PC Jewel 100 Literature 100 Petty Cash Discretionary Expenses (From Work Sheet) 300 Misc Expense 2000 TOTAL BUDGET BALANCES $6000 $6000 12

13. 2014 Line Officers Seminar Create Commandery Budget HYPOTHETICAL SIMPLIFIED COMMANDERY BUDGET Assume Local Dues 100Members on March 31 (End of FY) $56.00TOTAL LOCAL COMMANDERY DUES (Set by By-Laws) EXPENSES $1,600.00Grand Commandery Assessment (100 X $16 Each) $900.00Grand Encampment Assessment (100 X $9 Each) $25.00Knighting Fee (5 New S.K. X $5 Each) $50.00Eye Foundation (Assume 50 Life Members) $2,575.00 TOTAL ASSESSMENT EXPENSE $500.00Rent Notice Printing & Mailing: 100 Members x 10 Notices X $0.50 Print & Mail per Notice INCOME Local Assessment (100 S.K. X $56 Each) Note: COMMANDERY CASH AFTER ASSESSMENT $5,600.00 $3,025.00 $500.00 $300.00Recorder Salary & Income Taxes Knighting Fees (Assume 5 New S.K at $20) $100.00 $125.00Insurance $4,000.00 $400.00New Regalia (Jewels, Uniforms, Banners, etc). $200.00Conclave Meals / Refreshments $200.00Installation Expence (Bugler, Wine, Flowers, etc) $500.00Special Events (Xmas, Easter, GC Visit) $200.00PC Jewel & Boards $100.00Literature Purchases (Constitutions, D & T Manuals, etc) $100.00Petty Cash Expense (Postage, Copies, Envelopes, etc) $300.00Misc Unidentified Expense $2,000.00 TOTAL DISCRETIONARY EXPENSE TOTAL NON-DISCRETIONARY EXPENSE Investment Income $100.00 Misc Contributions $100.00 Fund Raisers $100.00 TOTAL INCOME $6000.00 TOTAL INCOME $6,000.00 = $6,000.00 TOTAL EXPENSES 13

14. 2014 Line Officers Seminar Create Commandery Budget A BUDGET IS A DESTINATION BUDGETING IS A JOURNEY 14