Transferring Unused Budget to New Year's Budget

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papajohnallen
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Joined: Tue Jul 26, 2011 9:03 am
Location: Raleigh, NC, USA

Transferring Unused Budget to New Year's Budget

Postby papajohnallen » Sun Feb 09, 2014 11:52 am

We have approval from the Stake to roll some of our unused budget from last year into this year. How would one do that?

Also, the remainder of last year's unused budget needs to go to the Stake. How do I write a check from last year's budget?

If you can answer the first question, it handles the second. I can roll it all from last year, and then write the Stake the check.

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aebrown
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Re: Transferring Unused Budget to New Year's Budget

Postby aebrown » Sun Feb 09, 2014 12:42 pm

papajohnallen wrote:We have approval from the Stake to roll some of our unused budget from last year into this year. How would one do that?

Also, the remainder of last year's unused budget needs to go to the Stake. How do I write a check from last year's budget?

If you can answer the first question, it handles the second. I can roll it all from last year, and then write the Stake the check.

By default, budget funds are carried forward from one year to the next. The carried forward funds will show up on the Budget Summary Report as "2013 Carry Forward Balance."

Only if you actually write a check to the stake will any of the funds not be carried forward. The way to do this is to write a check to the stake using the category Budget:Budget Allocations. This is a special subcategory that doesn't act like other subcategories. Instead, checks written from this subcategory (or deposited into this subcategory) affect the line items shown at the bottom of the Budget Summary Report. It will show up as a "Miscellaneous Adjustment".

So if you have a $3000 balance at the end of the year, and the stake president allows you to retain $2000 of that, then you write a check to the stake in the amount of $1000 from the Budget Allocations subcategory. If you anticipate $10,000 in budget allocations from the stake throughout the year, that would mean that you would have $12,000 available to spend.

papajohnallen
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Posts: 13
Joined: Tue Jul 26, 2011 9:03 am
Location: Raleigh, NC, USA

Re: Transferring Unused Budget to New Year's Budget

Postby papajohnallen » Sun Feb 16, 2014 11:17 am

Thank you!


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