Budget Committee

General Purpose of Budget Committee:

To provide the State Board with an annual budget and the financial position of the association on a monthly basis.

Members:

Members of this committee will include a Chair (IMBA Secretary/Treasurer), IMBA President, and two members of the State Board.

General Responsibilities and Expectations:

• Budget Committee Chair to work pro-actively with IMBA ED to recruit committee members, set up a schedule of meetings/calls, and, either in person, via call, or written report, provide details of financial activities/position as warranted
• Determine a date each summer to have a meeting/call to begin the process of developing the budget for the upcoming year, starting in July
• Working with ED, prepare a review of financials for incoming and existing State Board members for the August Strategic Planning meeting
• Regularly discuss Successes of financial activities and opportunities to improve, as well as additional potential sources for revenues and cost reductions

Goals:

• Provide educational material for new and existing State Board members annually at the strategic planning session

• No later than October 31st, have a budget proposal prepared for distribution to board members for discussion and possible vote at November board meeting