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Approving Money


BradL

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Good afternoon,

 

I am the Chair of a small non-for profit organization. We are hosting a conference later this year and facility deposits are required in one week’s time. The complication is that our budget will not be approved until the end of May.

 

What would the process be when seeking moneys without an approved budget to take it from? In the past, a member would put the expense on their personal credit card and then motion for reimbursement at a later time; however, this is a fairly significant expense.

 

Thanks for any help.

 

BL

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I am the Chair of a small non-for profit organization. We are hosting a conference later this year and facility deposits are required in one week’s time. The complication is that our budget will not be approved until the end of May.

 

What would the process be when seeking moneys without an approved budget to take it from? In the past, a member would put the expense on their personal credit card and then motion for reimbursement at a later time; however, this is a fairly significant expense.

A motion to authorize the expenditure would be in order, assuming it is possible for the board to meet in time.

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Thanks Josh,

 

How would the motion be worded in your opinion? Typically we would identify a line-item for the moneys to be taken from.

I'm not Josh, but I would say something along these lines:

 

"Mr. Chairman, I move that we authorize the treasurer to write a check in the amount of $489,976.25 to ABC Convention Center as a deposit for our June conference on train derailments and that the expenditure come out of the line item for conferences and workshops."

 

Josh would probably say it differently.  :)

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I'm not Josh, but I would say something along these lines:

 

"Mr. Chairman, I move that we authorize the treasurer to write a check in the amount of $489,976.25 to ABC Convention Center as a deposit for our June conference on train derailments and that the expenditure come out of the line item for conferences and workshops."

 

Josh would probably say it differently.  :)

The only part I'd say differently is to strike the part about what line item it comes from. The society currently does not have an adopted budget.

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