Transferring money from budget to YM-YW-EFY

Discuss questions around local unit policies for budgeting, reconciling, etc. This forum should not contain specific financial or membership information.
Michaeljefferyjones
New Member
Posts: 47
Joined: Sun Jul 12, 2009 10:14 am
Location: South Shields Tyne & Wear

Transferring money from budget to YM-YW-EFY

Postby Michaeljefferyjones » Sun Feb 02, 2014 11:53 am

Can you advise me on how to transfer money from the ward budget account to say, YM-YW-EFY as my Bishop wishes to ring fence these money's as we have through careful financial management a budget surplus and other units do not.

russellhltn
Community Administrator
Posts: 20757
Joined: Sat Jan 20, 2007 2:53 pm
Location: U.S.

Re: Transferring money from budget to YM-YW-EFY

Postby russellhltn » Sun Feb 02, 2014 12:07 pm

Any transfer from budget to other is likely to bring scrutiny. I think your best defense is to create and enter a budget that shows all the funds being used. If the stake asks for the funds, then you can show them how it will be used. See Handbook 1: 14.7.2 for specific guidance - Third paragraph from the end - the one that starts with "Unneeded".
Have you searched the Wiki?
Try using a Google search by adding "site:tech.lds.org/wiki" to the search criteria.

eblood66
Senior Member
Posts: 2028
Joined: Mon Sep 24, 2007 8:17 am
Location: Cumming, GA, USA

Re: Transferring money from budget to YM-YW-EFY

Postby eblood66 » Sun Feb 02, 2014 12:09 pm

Michaeljefferyjones wrote:Can you advise me on how to transfer money from the ward budget account to say, YM-YW-EFY as my Bishop wishes to ring fence these money's as we have through careful financial management a budget surplus and other units do not.

You may use budget funds to clear a deficit in an 'Other' (Authorized Member Financed Activities or AMFA) category but we are not allowed to transfer money from budget into an Other:AMFA account in order to 'save' it for later. Other:AMFA accounts must follow the policies listed in this article: https://www.lds.org/callings/melchizede ... y?lang=eng (you must have an appropriate calling to see this page).

If you are planning on using the funds this year, then just allocate that amount to a budget category for EFY and then use it when the time comes. If you are planning on saving the funds until next year then you should also allocate it to a budget category this year (without using it) and then allocate it again next year. In that case you should also talk to the stake and make sure they know about and approve the plan to carry those funds over so that they don't request that you return your surplus or otherwise reduce your budget allocation.

Michaeljefferyjones
New Member
Posts: 47
Joined: Sun Jul 12, 2009 10:14 am
Location: South Shields Tyne & Wear

Re: Transferring money from budget to YM-YW-EFY

Postby Michaeljefferyjones » Sun Feb 02, 2014 1:12 pm

Many thanks for your all your comments,they have most most helpful to a new clerk


Return to “Local Unit Finance”

Who is online

Users browsing this forum: No registered users and 1 guest