Release of new budget funds

Discuss questions around local unit policies for budgeting, reconciling, etc. This forum should not contain specific financial or membership information.
dandshall2
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Release of new budget funds

Postby dandshall2 » Wed Jul 06, 2016 2:58 pm

I am a new ward clerk. So all of this is new to me and I am trying to learn as I go.

When does new budget funds go into the ward account? The reason I ask is because girls camp took about the last chunk of the budget, and I am wondering when we get new funds so I can pay some bills/reimbursements to members who paid for items for various activities. When I asked a stake clerk, he could not give me an answer, stating that the money just comes. He then told me that the church will not bounce any checks so go ahead and pay for the items, but I feel that it is wrong and that I want to make sure the budget is balanced and not have a negative balance. I know the church will not bounce any checks, but still I feel the right thing to do is to wait, but I hate to make members wait to get reimbursed.

Thank you in advance.

eblood66
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Location: Cumming, GA, USA

Re: Release of new budget funds

Postby eblood66 » Wed Jul 06, 2016 3:24 pm

Budget funds are distributed at the beginning of each quarter. About one month before the start of the quarter you should receive a document in your Financial Statements section which indicates the amount of the next distribution.

Although keeping the total budget in the black is desirable (and if it goes negative you may get a message from CHQ about it) if doing so causes hardship to a member I would make the payment anyway (with the bishop's approval of course).

dandshall2
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Re: Release of new budget funds

Postby dandshall2 » Wed Jul 06, 2016 3:39 pm

"Budget funds are distributed at the beginning of each quarter." What months are the beginning of each quarter?

allenjpl
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Re: Release of new budget funds

Postby allenjpl » Wed Jul 06, 2016 5:27 pm

January, April, July, and October. The budget comes from the quarterly reports (so make sure they're sent in!), albeit with a 1-quarter lag. That is, your attendance figures in December (representing 4th Quarter of the previous year) will affect your budget disbursement in April.

dandshall2
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Re: Release of new budget funds

Postby dandshall2 » Wed Jul 06, 2016 5:47 pm

allenjpl wrote:January, April, July, and October. The budget comes from the quarterly reports (so make sure they're sent in!), albeit with a 1-quarter lag. That is, your attendance figures in December (representing 4th Quarter of the previous year) will affect your budget disbursement in April.

So, when I log in, will the quarterly reports be one of those urgent tasks that I might get a message when I log in? I just got in the calling a short time ago so I do not know if the previous clerk already submitted it prior to my arrival.

eblood66
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Re: Release of new budget funds

Postby eblood66 » Wed Jul 06, 2016 6:03 pm

dandshall2 wrote:So, when I log in, will the quarterly reports be one of those urgent tasks that I might get a message when I log in? I just got in the calling a short time ago so I do not know if the previous clerk already submitted it prior to my arrival.

No, it doesn't show up as an urgent task. But you can go to LCR (https://clerk.lds.org) and select Reports > Quarterly Report. If the report has been submitted for the 2nd quarter it will tell you so. If not, that's where you enter the numbers and submit it.

dandshall2
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Re: Release of new budget funds

Postby dandshall2 » Wed Jul 06, 2016 8:14 pm

Thank you. I looked and the 2nd quarter had not yet been completed. So I got with the Bishopric to get this completed.

russellhltn
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Re: Release of new budget funds

Postby russellhltn » Wed Jul 06, 2016 10:21 pm

You do need to turn that in, but it won't affect you until October. What's the status of the 1st quarter report? If that wasn't turned in, no money in July.
Have you searched the Wiki?
Try using a Google search by adding "site:tech.lds.org/wiki" to the search criteria.

drepouille
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Location: Plattsmouth, NE
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Re: Release of new budget funds

Postby drepouille » Thu Jul 07, 2016 5:03 am

Login to LCR https://clerk.lds.org, then click on Finance, and a new Finance tab will appear in your browser.

If you click on Overview, then Income and Expense Details, you should be able to see exactly when your standard budget allocation for Q3 2016 is deposited into your ward budget. You should at least be able to see the allocation for Q1 on 07 Jan 2016, and the allocation for Q2 on 07 Apr 2016.

Click Reports, then Budget. You should see something like:

Name Report Date
Projected Quarterly Budget Allowance Q3 2016 01 Jun 2016
Quarterly Budget Allowance Q2 2016 01 Apr 2016
Projected Quarterly Budget Allowance Q2 2016 01 Mar 2016
Quarterly Budget Allowance Q1 2016 01 Jan 2016

Click on the link for "Projected Quarterly Budget Allowance Q3 2016 01 Jun 2016" and you will see the message that tells you exactly how much will be distributed to your ward. This distribution should be released today (July 7th). However, holidays and General Conferences may delay the transfer.
The message says, "Your budget allowance is based on current unit percentages provided to Church headquarters by your parent unit president. This amount is
also based on attendance and membership information from the March 31 2016 Quarterly Report." That report was due on April 15th.
Dana Repouille, Plattsmouth, Nebraska

dandshall2
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Joined: Sun Jun 05, 2016 7:23 am

Re: Release of new budget funds

Postby dandshall2 » Thu Jul 07, 2016 6:29 am

russellhltn wrote:You do need to turn that in, but it won't affect you until October. What's the status of the 1st quarter report? If that wasn't turned in, no money in July.

The 1st quarter was turned in, thank goodness.

drepouille wrote:Login to LCR https://clerk.lds.org, then click on Finance, and a new Finance tab will appear in your browser.

If you click on Overview, then Income and Expense Details, you should be able to see exactly when your standard budget allocation for Q3 2016 is deposited into your ward budget. You should at least be able to see the allocation for Q1 on 07 Jan 2016, and the allocation for Q2 on 07 Apr 2016.

Click Reports, then Budget. You should see something like:

Name Report Date
Projected Quarterly Budget Allowance Q3 2016 01 Jun 2016
Quarterly Budget Allowance Q2 2016 01 Apr 2016
Projected Quarterly Budget Allowance Q2 2016 01 Mar 2016
Quarterly Budget Allowance Q1 2016 01 Jan 2016

Click on the link for "Projected Quarterly Budget Allowance Q3 2016 01 Jun 2016" and you will see the message that tells you exactly how much will be distributed to your ward. This distribution should be released today (July 7th). However, holidays and General Conferences may delay the transfer.
The message says, "Your budget allowance is based on current unit percentages provided to Church headquarters by your parent unit president. This amount is
also based on attendance and membership information from the March 31 2016 Quarterly Report." That report was due on April 15th.


So the 7th is normally the date of the release of funds. That is good to know. I checked this morning, but no deposit yet, but at least I know I will not need to wait a whole month before I can reimburse members.

Thank you all.


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