YSA Branch supported by multiple stakes

Discuss questions around local unit policies for budgeting, reconciling, etc. This forum should not contain specific financial or membership information.
jasonhyer
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Location: Roy, UT

YSA Branch supported by multiple stakes

Postby jasonhyer » Sun Jan 17, 2010 1:03 pm

Our YSA branch was just expanded to include three stakes and as such will be getting operating funds from all stakes. I believe that the best way for the other 2 stakes to provide the funding is for them to write checks to the branch and have the branch deposit them in a budget category for each stake (to easily see if the stakes are current in their suppot) and then make transfers from those budget categories to the budget items they will be used for.

Does anybody have any other ideas or am I heading down the correct path?

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aebrown
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Location: Sandy, Utah

Postby aebrown » Sun Jan 17, 2010 2:37 pm

jasonhyer wrote:Our YSA branch was just expanded to include three stakes and as such will be getting operating funds from all stakes. I believe that the best way for the other 2 stakes to provide the funding is for them to write checks to the branch and have the branch deposit them in a budget category for each stake (to easily see if the stakes are current in their suppot) and then make transfers from those budget categories to the budget items they will be used for.

Does anybody have any other ideas or am I heading down the correct path?


The branch will exist in only one stake (it sounds like it is your stake). So the budget allocations come to that stake. But I don't know that there is a great need for the other stakes to provide much support, if any, except at the beginning. The records of the members of the branch will be in that branch, and thus in that stake, so once the membership has been in place for about 3 quarters, the funding will appropriately flow to that stake.

However, in the beginning, with a large influx from two other stakes, there would be a need for some extra support (since the calculations for budget allocations trail by 2-3 quarters). When those other stakes make donations, their donations will be associated with a donor record, and it's easy enough to track their donations that way. I wouldn't put them in a special budget category, since the budget categories are more appropriately used for how you plan to expend the money, not receive it.


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