Ward over budget?

Discuss questions around local unit policies for budgeting, reconciling, etc. This forum should not contain specific financial or membership information.
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wrigjef
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Ward over budget?

Postby wrigjef » Tue Dec 04, 2012 8:32 pm

What happens when a ward is over budget for the year? I'm pretty sure I know the answer but I wanted to check with the experts. BTW the stake is well within budget

Gary_Miller
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Postby Gary_Miller » Tue Dec 04, 2012 8:46 pm

They will show a negative number carried over to next year.

Of course if the stake has extra funds then they could give it back to the wards, that's where it should have been in the first place.

jdlessley
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Postby jdlessley » Tue Dec 04, 2012 11:43 pm

wrigjef wrote:What happens when a ward is over budget for the year?
A negative balance will carry over to the next year. I cannot confirm this but I would also expect some notifications from headquarters would also occur. Since the stake has budget oversight I am sure they will receive a notification letter, probably through MLS. The ward will also receive a notification letter, again most likely through MLS. Depending on the severity of the deficit there may be more than just notification letters sent.
JD Lessley
Have you tried finding your answer on the LDS.org Help Center page or the LDSTech wiki?

dannykos
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Postby dannykos » Wed Dec 05, 2012 3:42 am

We had that when a particularly large EFY bill came out before we had collected all the funds. Stake came to the rescue to tide us over until the next LUBA payment came in.

lajackson
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Postby lajackson » Wed Dec 05, 2012 8:15 am

jdlessley wrote:I would also expect some notifications from headquarters would also occur.


Our stake reviews the monthly reports and notices when a unit is over budget, but we have not received any type of notice about it. Since the budget is overseen at the stake level, we suspect that there would be immediate communication if the stake were to go over budget.

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wrigjef
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Postby wrigjef » Thu Dec 06, 2012 2:19 pm

lajackson wrote: we suspect that there would be immediate communication if the stake were to go over budget.

This I've first hand experience with, you are certainly correct

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Postby daveywest » Sun Dec 09, 2012 1:36 pm

At the end of 2011, I had a spanish branch in our stake exceed their allocation due to direction from the High Council & Stake President to increase their fellowshiping activities. The stake provided additional funds the following year to correct the deficit.

HQ expects the Stake President to monitor local unit fianances. Unless the stake as a whole (combination of ward, branch and stake budgets) was in the red, it is unlikely that any notice will come from Salt Lake.
Bro. West
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Former Assistant Ward Clerk - Finance (3 years)


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