EB-CAMFT Financial Guide
(Approved April 2007)
Our goal is to be a financially sound Chapter. We will use the following concepts to reach that goal.
1. Balanced budget
We will adopt a balanced annual budget in which revenue and expenses are equal. Note: Adding to our reserve fits in with the concept of a balanced budget and does not jeopardize our 501(c)(6) status. Any funds added to the reserve are handled as an expense.
We look to increase revenues through:
- Advertisements (newsletter and/or website)
- Educational activities
- Interest on investments
- Products for sale, such as mailing labels, supervision tapes
- Social activities
2. Budget procedures
In September, Committee Chairs present a draft budget for the following fiscal year, to be included in the Chapter Annual Budget.
Members sponsoring special events (such as CEU workshops) must submit (1) a proposed budget prior to the event for approval by the Board and (2) an accounting of the event after it is held.
Chapter members complete a Request for Disbursement/Reimbursement Form to the Office Manager either prior to or after the expense, respectively.
3. Financial reserve
We plan to accumulate and maintain a two-tier financial reserve.
Tier one equals one year's administrative expense which includes:
- CEU provider fee
- Newsletter printing and mailing
- Website maintenance
- Bank and credit card fees
- Bookkeeping contractor
- Computer hardware and software
- Insurance (worker's comp, commercial liability, Board liability)
- Legal and tax return
- Printing and copying
- Office supplies
- Payroll expenses
- Office Manager salary
- Telephone and fax
Tier two equals one year's full operating expense, which includes expenses for:
- Board business
- Continuing education activities
- Social activities
- Contract clerical help
- Equipment and furniture
4. Investment policy
We agree to investigate and maintain investments that earn income, but do not put the Chapter in financial jeopardy.