Chair: Sheldon R. Richman, KCCH
Budget subcommittee Chair: J. Patrick Weyant, Jr. KCCH
Budget and Finance Charter January 2014
The Budget and Finance Committee shall identify mid-term (3 yr.) and long term (4-8 yr.) financial goals and strategies; prepare the Valley budget for the next year; and monitor implementation of the current year budget. It also shall be responsible for assessing the adequacy of the Trustees funds and other funds to assist with the operating and capital budget; for setting fund-raising goals; and for recommending changes to dues and fees.
The Budget and Finance Committee shall consist of a Chairman, the Secretary, Assistant Secretary, the Treasurer, and three members. The heads and number two officers of the four Bodies shall be ex-officio members of the Committee. The Chairmen of the operating committees will be specifically invited to attend Budget and Finance Committee meetings, but the Committee meetings will be open to all Alexandria Scottish Rite Brethren.
1. The Committee shall work with the number two officers of the four bodies and with the Committee Chairs to develop the budget for the next Scottish Rite year, taking into account planned programs and available funding.
2. The Committee shall monitor implementation of the current year budget. Adjustments will be made to transfer funds from accounts where they are not needed or being used to where they are needed.
3. The Committee shall work with the Strategic Planning Committee to review funding needs for near-term action plans approved by the Personal Representative.
4. The Committee shall present to the Personal Representative anticipated budget shortfalls between anticipated revenue from all sources and Valley operating expenses, capital budget requirements, and desired program funding, along with recommendations as to how additional funds might be obtained.
5. The Committee, working with the Trustees, shall develop a 20-year building capital improvement budget.
a. The Trustees shall provide to the Committee an analysis of the expected life of each of the building systems (air conditioning, heating, electrical, plumbing, etc.).
b. The Trustees shall provide the Committee with an estimate of the funds needed to pay for repair and replacement of these systems and the degree to which they are available from the Trustees funds.
6. The Committee shall recommend an investment strategy and spending plan to conserve and grow the funds needed for the operating and capital budget.
7. The Committee with the assistance of the Trustees shall develop a long-term fund raising strategy for a capital building fund. It also shall establish fund-raising goals, and recommend changes to dues and fees.
8. The Committee shall make recommendations to the Lodge of Perfection as to the officers entitled to a salary and the amount of salary and benefits, and similar recommendations concerning employees required for the operation of the Valley.