Transcript Presentation, Finance

Finances
MWPHGL of Maryland
Office of the Grand Inspector
1307 Eutaw Place, Baltimore, MD
February 4, 2012
Finance
What
Why
Who
How
2
What is IT?
A
A
B
I
Assets
F
F
Audits
Budgets
Insurance
Finances
Forecasts
3
Finances
You must be aware of your current
financial condition.
• Where it comes from
• Where it goes
Reports
•What would you
like to know?
• Who should care?
4
Audits
• Why?
for your membership, assures them the integrity
of which the funds are handled
• Why?
MWPHGL requirement
• When?
Due each quarter
5
Budgets
• Why?
• How much
time should
be devoted to:
– Preparing
– Reporting
– Updating
6
Budgets
• Sample Budget
7
Budgets
• Sample Budget 2 cont’d
Projected Expenditures MY 2010/2011
400
402
404
406
408
410
412
414
416
418
419
420
420.02
420.04
420.06
420.08
420.1
420.12
420.14
420.16
420.18
420.2
440
440.1
440.2
Quantity
Projected
Estimated
Adm.-Bank Safe Deposit Box Annual Fee
1
$70
$70
Adm.-Postal Service Box Annual Fee
1
$70
$70
Adm.-Postal Stamps
10
$45
$450
Adm.-Bank Service Charges
12
$15
$180
Adm.-Surety Insurance Bond
1
$175
$175
Adm.-Secretary/Treasurer Supplies
1
$500
$500
Adm.-Computer System Purchases
1
$1,000
$1,000
Adm.-Health Food License (Charles County)
1
$50
$50
Adm.-Constituent Lodge Support
1
$2,000
$2,000
Adm.-Masonic Supplies(Gloves & Aprons)
12
$1,000
$1,000
Adm.-Repast @ Lodge Meetings
24
$100
$2,400
BldgExpense-Bldg Maintenance (Household)
12
$200
$2,400
BldgExpense-Bldg Upkeep²
1
$20,000
$20,000
BldgExpense-Bldg Insurance (F. Mutual Insur)
2
$1,000
$2,000
BldgExpense-Property Taxes
2
$140
$280
BldgExpense-Utilities: Electric (Monthly)
12
$250
$3,000
BldgExpense-Utilities: Trash Pickup (Monthly)
12
$132
$1,584
BldgExpense-Utilities: LP Gas (Kitchen Area)
12
$100
$1,200
BldgExpense-Utilities: Fuel Oil to Heat Bldg
6
$900
$5,400
BldgExpense-Utilities: Sewage Fees
4
$125
$500
BldgExpense-Utilities: Telephone /Internet/1 Call
12
$145
$1,740
BldgExpense-Security (Rentals)
15
$50
$750
Charity: Sick & Distress (Cards,Flowers etc.)
12
$100
$1,200
1
$1,000
$1,000
10
$50
$500
Charity: Sr. Citizens Feast (Nov 13)
Thanksgiving Baskets
8
Budgets
• Sample Budget 3 cont’d
480.02
MWPHGL: GL News Paper (Subscription Fee)*
480.04
118
$8
$885
MPHGL:GL Entity Fee (Sept 2010)
1
$20
$20
480.06
MWPHGL:GL Trustee Ad (Sept 2010)
1
$250
$250
480.08
MWPHGL:GL Trustee Tickets (1 for every 4)**
30
$75
$2,250
480.1
MWPHGL:Masonic Supplies
5
$250
$1,250
480.12
MWPHGL:Dispensation Fee
10
$9.50
$95
480.16
MWPHGL:Lodge of Instruction Fee
2
$30
$60
480.18
MWPHGL:GL Annual Session Registration
5
$150
$750
480.2
MWPHGL:BH Officers Hotel Expenses
5
$300
$1,500
480.22
MWPHGL:GL Hospitality Suite Contribution
1
$200
$200
480.24
MWPHGL:Per Capita Taxes (Dec 10/Jun 11)
118
$21
$2,478
118
$35
$4,130
480.26
480.28
MWPHGL:GL Charity Funds (Jun 2011)
117
$6
$702
480.3
MWPHGL:GL Scholarship Fund (Jun 2011)
118
$10
$1,180
480.32
MWPHGL: GL Raffle Program 10 (Mar 2011)
118
$30
$3,540
Total MY2010/2011
$74,027
Recapitulation
Total Estimated Income
Total Estimated Expenditures
Total @ End of Year Returns
$65,509
$21,925
$87,434
$74,027
$74,027
$13,407
9
Assets
• What are they
…and who owns them?
• What is good “stewardship”?
• Who is the
Chief Steward?
• If not YOU,
then who?
• What do you
have?
10
Insurance
• What is it?
– Transfers risk of loss to
another party
– Provides fidelity coverage
on officers who handle funds
• Do you know what items are covered
and what it would cost to replace
them?
• Take the visual tour of your
establishment
11
Forecasts
• Road map for your future
• YOUR forecast
For example: Dues increases
• You have to plan for your
future or you won’t know
where you’re going, how
you will get there or
whether you’re on schedule.
12
CHARGE
“The honor, reputation and usefulness of your
organization will materially depend upon the skill and
assiduity of which you manage it’s concerns…”
13
Your organization is not all about money;
however, proper financial management is
your responsibility. Your organizations
growth and programs depend on the
funds available to guide it into the future.
14
Questions?