BUDGETING BASICS Civil Air Patrol 2010 National Conference

BUDGETING BASICS Civil Air Patrol 2010 National Conference Learning Lab FM 03 Kim Neubauer & Stacy Jackson Hometown Citizens - Homeland Heroes

Definitions of a Budget n. A list of planned expenses and revenues. n. A plan for saving and spending. n. A plan for future activities which later serves as a basis for evaluating actual performance. Hometown Citizens - Homeland Heroes

Reasons for Budgeting n Required by CAPR 173 -1, Para 9 (a) 4, Para 9 (b) 8, & Para 36 (d) n Demonstrates accountability of donated resources. n Plan for mission accomplishment. n Control costs and maximize earnings. Hometown Citizens - Homeland Heroes

Budget Requirements n Budgets must be balanced. n Estimated revenues and estimated expenditures must equal. n Budgets n Goals must be realistic. must be attainable. n Budgets must be reasonable. n Plans must be in line with CAP objectives and missions. Hometown Citizens - Homeland Heroes

Creating a Budget n Review past financial information. n Consider future plans. n Obtain financial input from all departments. n Finance Committee consolidates all information into a financial plan. n Upon approval, the plan becomes a Hometown Citizens - Homeland Heroes budget.

Region Budgeting n Provide approved budget to NHQ no later than 1 October each fiscal year. n Budget revisions are recommended at least monthly to ensure solvency. n Must be reviewed at least quarterly by the Finance Committee. n All adjustments must be sent to NHQ/FMB for posting. Hometown Citizens - Homeland Heroes

Region Financials n Profit & Loss Reports and Balance Sheets are provided monthly. n Budget to Actual Reports can be provided as often as requested. Hometown Citizens - Homeland Heroes

Wing Budgeting n Input approved budget into Quick. Books no later than 1 October each fiscal year. n Budget revisions are recommended at least monthly to ensure solvency. n Must be reviewed at least quarterly by the Finance Committee. n All changes to the budget must be Hometown Citizens - Homeland Heroes input into Quick. Books.

Wing Financials n Profit & Loss Reports and Balance Sheets can be pulled from Quick. Books as needed. n Budget to Actual Reports can be run in Quick. Books as often as required. Hometown Citizens - Homeland Heroes

Unit Budgeting n Provide approved budget to Wing HQ no later than 1 October each fiscal year. n Budget revisions are recommended at least monthly to ensure solvency. n Must be reviewed at least quarterly by the Finance Committee. n All adjustments must be sent to Wing Hometown Citizens - Homeland Heroes HQ for posting to Quick. Books.

Unit Financials n Unit financial reports are required to be provided by the Wing monthly. n Budget to Actual Reports can be run in Quick. Books and provided by the Wing as often as required. Hometown Citizens - Homeland Heroes

QUESTIONS & COMMENTS Hometown Citizens - Homeland Heroes