Request for Budgets
To MFS Organisers
If we are to expand and grow, and attract and retain activities run by good organisers, we need clarity and certainty around our authorisation of people to make decisions and act on them. At the same time, we need openness and transparency of all our operations so that the MFS Committee can exercise responsible oversight of the affairs of the society as a whole. We also have statutory requirements that all financial transactions of the society are included in our reporting and able to be audited.
Financial Reporting Policy
To this end, the MFS Committee has decided to adopt the Financial Management Reporting policy published at: MFS Financial Reporting Policy
Part of the policy is the requirement for each area of the society to provide a budget to the Treasurer. The Treasurer will help and advise on the preparation of budgets, and when agreed by the Treasurer they will be presented by the Treasurer to the MFS Committee for approval. Approved budgets will be published on the MFS Members' web site
Your budget will be either agreed, or returned with appropriate advice for reworking. Approved budgets will be published on the members' site along with financial results.
Budget approvals stand until they are replaced by a new budget approval, or they are revoked
Why Submit a Budget?
It is important that you submit a budget, even if it is a nil return, because this will show that you are running an MFS activity, thus providing all the protections that go with running activities as part of an incorporated body. It is also important because the honouring of public liability insurance claims may depend on satisfying our insurance company or a court of law that the event under which the claim is made is indeed a wholly owned event of the MFS. The requirement to submit a budget applies to all MFS organisers. It is clearly in event organisers' interests that there be no doubt on this score.
Content of Budget
As a preamble to your budget, please set out for the record as applicable:
- Your area of responsibility and its goals and objectives
- The office bearer(s) and membership of your committee
- Any issues, planned initiatives, actions requested from the MFS Committee, etc, for the new budget period.
Budgets should be sent to the Treasurer by email (treasurer(at)mfs(dot)org(dot)au). Where there is an organising team responsible, please obtain that organising team's agreement before submitting the budget.
A worked example is available to assist you in preparing your budget, in
The Treasurer is happy to clarify, discuss or provide help at any time.
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