2020 Budget rollover balance

Discuss questions around local unit policies for budgeting, reconciling, etc. This forum should not contain specific financial or membership information.
sareid
New Member
Posts: 15
Joined: Sun Oct 13, 2013 8:44 am

Re: 2020 Budget rollover balance

#21

Post by sareid »

So just want to confirm, does excess ward level budget dollars for each budget category (1) go back to the unallocated dollar amounts, (2) get zeroed out and automatically returned back to HQ, (3) roll over to next year?

I know that budget categories zero out, but is there any required action on the funds, and where do they go?

Also, to throw a wrench in things, with the creation of sub accounts in budget for things that were previously under Member Financed accounts like YM camp, YW Camp, do those account funds roll over, sine they are not accounts that you can allocate budget to?
russellhltn
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Re: 2020 Budget rollover balance

#22

Post by russellhltn »

In the past, I believe it's option #1. By default, the funds are kept by the ward, but the stake might ask for some of that to help balance budgets elsewhere. Especially is the roll over is excessive.

Good question on what happens now that budget also includes what used to be Authorized Member Financed Activities.
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garystroble
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Location: near Milwaukee, Wisconsin, United States

Re: 2020 Budget rollover balance

#23

Post by garystroble »

sareid wrote: Tue Nov 01, 2022 1:16 pm So just want to confirm, does excess ward level budget dollars for each budget category (1) go back to the unallocated dollar amounts, (2) get zeroed out and automatically returned back to HQ, (3) roll over to next year?

I know that budget categories zero out, but is there any required action on the funds, and where do they go?

Also, to throw a wrench in things, with the creation of sub accounts in budget for things that were previously under Member Financed accounts like YM camp, YW Camp, do those account funds roll over, sine they are not accounts that you can allocate budget to?
The answer to your questions is all of it probably rolls over. However, it is up to your bishop and/or stake president. Suggest you start with your bishop. For 2023 a new budget allocation will have to be approved by your bishop and the categories reallocated.
eblood66
Senior Member
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Joined: Mon Sep 24, 2007 9:17 am
Location: Cumming, GA, USA

Re: 2020 Budget rollover balance

#24

Post by eblood66 »

sareid wrote: Tue Nov 01, 2022 1:16 pm So just want to confirm, does excess ward level budget dollars for each budget category (1) go back to the unallocated dollar amounts, (2) get zeroed out and automatically returned back to HQ, (3) roll over to next year?
All excess budget funds get rolled over to the next year and are initially unallocated. All budget categories (other than Budget Allocations) will be zero until amounts are allocated for 2023 (which can be done now if desired). This all happens automatically.
sareid wrote: Tue Nov 01, 2022 1:16 pm Also, to throw a wrench in things, with the creation of sub accounts in budget for things that were previously under Member Financed accounts like YM camp, YW Camp, do those account funds roll over, sine they are not accounts that you can allocate budget to?
Any accounts created to hold previous AFMA accounts are treated exactly the same as any other budget category. Any funds become part of the unallocated rollover. Note that you can allocate funds to those categories just as you can any other category. Whether you want to is a decision that the ward should make. The ward may want a single category which holds both the budget funds which will be used towards camp along with any payments or the ward may want to keep those separate. There are advantages and disadvantages to both and no specific guidance from CHQ has been given at this point.
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