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.
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