Primary Funds
Operating Revenues and Expenses
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Operating accounts reflect the day-to-day operations of the association. At the end of the fiscal year, any surplus is added to the Operating Reserves. Any deficit would be covered by money from the reserves |
Operating Reserves
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The Operating reserves are designated by the Board. They are used to cover any deficit at the end of the year, and can provide money for emergencies. Capital expenses such as program development and computer equipment are paid m the reserves |
Designated Funds
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Several Funds have been established for specific purposes. These funds are "fenced" and can be used only as designated. The Board approves transfers from designated accounts to Operating Accounts. The funds are designated for purposes such as the Judges Program, Sportsmanship, Junior Championships, etc. |
