Excess Budget funds stake sweep

Discuss questions around local unit policies for budgeting, reconciling, etc. This forum should not contain specific financial or membership information.
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swigginton
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Re: Excess Budget funds stake sweep

#41

Post by swigginton »

We had the same problem, but within the last 30 minutes, the sweep transaction was removed and our budgets are now back as they were yesterday.
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barkeraj
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Re: Excess Budget funds stake sweep

#42

Post by barkeraj »

swigginton wrote: Wed Jan 25, 2023 1:46 pm We had the same problem, but within the last 30 minutes, the sweep transaction was removed and our budgets are now back as they were yesterday.
I see this as well. All units are back to what they were and it is as if it never happened on the ledger. Our bishops' heart rates won't be back to normal for a while though ;)
sdespain
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Re: Excess Budget funds stake sweep

#43

Post by sdespain »

barkeraj wrote: Wed Jan 25, 2023 1:58 pm
swigginton wrote: Wed Jan 25, 2023 1:46 pm We had the same problem, but within the last 30 minutes, the sweep transaction was removed and our budgets are now back as they were yesterday.
I see this as well. All units are back to what they were and it is as if it never happened on the ledger. Our bishops' heart rates won't be back to normal for a while though ;)
So my question/concern is what was the mistake last night. Doing a sweep that SHOULD NOT have included Stake Budgets but only units within the stake, or was the entire sweep done in error. Just don't know if we are truly back to normal or should we expect a unit level sweep to take place in the coming days..
jdlessley
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Re: Excess Budget funds stake sweep

#44

Post by jdlessley »

The sweep for our stake was the stake as well as each unit. All have been restored. I am waiting for the response to the support ticket that was submitted to see what happened.
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garystroble
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Re: Excess Budget funds stake sweep

#45

Post by garystroble »

"Annual transfer of surplus budget funds"

This tells me something further is coming down the pike, possibly at 2023 year end, but they let the cat out of the bag early?
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johnshaw
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Re: Excess Budget funds stake sweep

#46

Post by johnshaw »

garystroble wrote: Thu Jan 26, 2023 1:10 pm "Annual transfer of surplus budget funds"

This tells me something further is coming down the pike, but maybe they let the cat out of the bag early.
This is quite telling, it means they are seeing many wards (probably not as much stakes) that just aren't managing any kind of budget. I've always been very concerned that my Bishoprics treated the money as an expense account. When CUBS first came out I watched as ward after ward had carried over like 1/2 their budget, after the 2nd year of doing this, we called a meeting and asked for it back at the stake level to fund some stuff. The Bishops were miffed, I mean incensed that we dared question their stewardship. I was (as the clerk) literally being yelled at by my own Bishop for this very thing so I asked him, Why did you charge me for my girls to attend Young Women camp knowing you had $4000 carry over in the budget. I'll tell you why, because you didn't know you had that kind of money in a carry over, because you don't budget anything. All the while I'm being asked to contribute out of pocket, Bishops are hording $$ - It's a bad deal. Now I'm certain that many places do it really well, I've just never lived in one for the last 25 years.

We have to start budgeting or it's going away, they'll start to reduce it if we don't use it. Boy, will we ever learn our lessons.
“A long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defense of custom.”
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garystroble
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Re: Excess Budget funds stake sweep

#47

Post by garystroble »

I think in this case the sweep was applied to all units church-wide, including stakes and districts. Obviously an error, as our ward's carryover was well within guidelines. If they were trying to send a message it was clumsily done. If not, the arbitrary sweeps of all units was way overreach or a major malfunction caused by human error.
jpjones~ogr
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Re: Excess Budget funds stake sweep

#48

Post by jpjones~ogr »

Our ward didn't see budget sweeps, even though the carryover was far more than 50% of our annual allotment. I haven't heard of any sweeps in our stake either.

I'm very glad we didn't need to worry about transferring money out, or an automated sweep, because commitments for 2023 could leave us less than $400 at the end of year. I'm even a little worried we'll run out. Decades of shrinking attendance doesn't help, though a fundraiser might.

I started serving as a clerk in the late 70's, have had very little time away from it, and this is the first year I felt a need to warn our bishopric and organizations about running out of money.

If we are moving toward automated budget sweeps, I see them as driving unnecessary spending. Our ward's leaders have tended to be frugal, and if their perspective adjusts toward a 'use it or lose it' approach I expect spending choices to become less worthwhile, at least for a time.

My 2 cents, anyway.
BlairEsplin
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Re: Excess Budget funds stake sweep

#49

Post by BlairEsplin »

I’m curious if anyone had money taken from their ward or stake. Nothing has come out of our stake despite having a large surplus which is being held in reserve for our next trek and other future stake activities.

Did the church silently reverse the plan to take excess budget funds or should we still expect money to be taken?
rknelson
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Re: Excess Budget funds stake sweep

#50

Post by rknelson »

It appears that funds were only pulled from stakes, not wards. Funds were pulled if the amount in the stake budget category on 31 December 2022 (not including ward funds) exceeded 50% of the total allocation of funds to the stake including wards for 2022. This is listed in LCR Finance under "Income and Expense details" / "Budget Allocations" labeled as "Collect 2022 budget excess funds as per PBO notice (15 Jan 2023)". Transfers took place in mid-January.
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