FinancesTheir Money, our Stewardship

Lesson Overview

1. Understand the 4 rules of the DeMolay financial process

2. Learn the financial policies and procedures

3. Review of the annual DeMolay budget

DeMolay Financial Process

4 Rules to Remember

Rule # 1ALL the money in all accounts of a DeMolay Chapter belongs to the members.

4 Rules to Remember

Rule # 2Chapter members should be involved, to the greatest extent possible, in day-to-day functions.

4 Rules to Remember

Rule # 3Advisors should use every opportunity to teach DeMolays sound financial practices and the reasons for them.

4 Rules to Remember

Rule # 4The Advisory Council is held responsible for any financial mismanagement or misuse of funds.

Financial Policies and Procedures

Financial Policies and Procedures

It is important that Advisors, at minimum, be familiar with the following policies and procedures.

*If you have any questions, please feel free to ask them in the Forum on your DAD Training home page.

Financial Policies and Procedures Multiple signatures

are REQUIRED on all financial documents

NEVER USE BLANK CHECKS!!!

All cash advances must be accounted for

All expenses must be authorized in ADVANCE of the expense

Annual Audits are a MUST!

Financial Policies and Procedures

Always prove expenses with vouchers and receipts for reimbursement.

and…

NEVER USE BLANK CHECKS!!!

The Annual DeMolay Budget

The Annual DeMolay Budget

The Annual Financial Report is completed by the Chapter Master Councilor with guidance from the Chapter Advisor.

The guideline for all DeMolay financial planning is ZERO BASED BUDGETING

Zero Based Budgeting

Typical ExpensesTypical Receipts

Convention Key Man Conference Insurance/Endowment Athletics Membership

Recruitment Charitable Outreach

*each chapter varies on the amount and type of expenses and receipts.

Fundraising Donations Competition Awards

Receipts Must Be Equal To or Greater Than Expenses

Finance Review

Please move onto the Financial Review section of your Dad Training.