Budget Process
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Budget Process The purpose of the US SAILING budget process is to coordinate the efforts of volunteers and staff to arrive at a plan in as efficient and productive manner as possible. The overall objective is to develop a plan for each division that is realistic and supports the mission of US SAILING. The financial goal is to operate solidly in the black, generating at least a 4% return on revenue and to structure operations and events on a long-term sustainable basis. Please see the section on Zero Based Budgeting for an explanation of said process for this year. 2004 Budget Planning Schedule: |
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By August 1, 2004 |
Spreadsheets distributed to staff
directors with budget assumptions Staff works with volunteers to develop assumptions and numbers |
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By August 22 |
First draft collected, totaled and
reviewed; full copies to Budget Committee Budget Committee contacts staff with questions and comments Executive Director and President's Review Staff keeps committee chairs informed of changes |
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By September 5 |
Second draft collected, totaled and
reviewed; full copies to Budget Committee Budget Committee contacts staff with questions and changes Executive Director and President's Review Staff keeps committee chairs informed of changes |
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By September 19 |
Budget is finalized and summary is
mailed by e-mail and/or paper to EXCOM and Board of Directors for
comments Departmental budgets printed and mailed to chairs |
| By October 3 | Board and EXCOM comments accepted by e-mail |
| By October 15 | Presented for Board approval at the annual meeting of the AGM |
| By October 17 | Copies of the approved committee budgets are distributed to chairs for that fiscal year (January 1 to December 31, 2004) |