Budget Approved

Relevant Information

The budget for the association must be adopted by the members at a general membership meeting.

 

Best practice

Budget for the next fiscal year can be approved before the end of the current fiscal year to give the board the authority to spend and receive funds.

As per your bylaws the budget must be approved by the first general membership meeting of the year.

 

Questions

What if we didn’t get our budget approved in the spring? A budget should be approved at the end of the school year so there is a working budget over the summer. At a membership meeting early in the year, you should reaffirm the budget with any changes/actuals as needed.

What if we need to change the budget? Budgets can be amended as needed throughout the year by a vote at a membership meeting.

 

Additional information

Budget and financial resources are available on the Treasurer tab of the Resources Hub