Chief Financial Officer Report - 2010/05
Author
- Doug Holland; [email protected]
Now it's time to continue the "saga" of our last budget preparation. Looking at the last article on the budget, line 12 is where the Finance Committee gets involved. Here we put back some items and remove or "blast" the rest. Since it requires looking ahead as to membership numbers and therefore income, it's all a guessing game.
The guessing game is controlled by various rules of operation that keep the AMA from overspending. In the past, the Executive Council restricted several million dollars. This money was to be used for operations "if times got bad."
An example of "bad times" is when the AMA has important programs that must be continued but it looks as though our income will be down. That is when a deficit budget is proper economic planning. We have managed to keep our budget balanced, but you never know when that won't work.
We are okay so far.
Worry won't relieve the problems of tomorrow, but it will certainly ruin the pleasure of today.
Closing
- A-B-C: Always Be Courteous
Transcribed from original scans by AI. Minor OCR errors may remain.
