Section 10.1. Annual Budget.
Rule G-10.1.1 Presentation of Association Budget.
At each regular General Assembly the Board of Trustees shall present budgets for both the Current Fiscal Year and the Succeeding Fiscal Year. Current Fiscal Year means the fiscal year of the Association which has just begun or which is about to begin at the time when the Assembly is held. Succeeding Fiscal Year means the year following the Current Fiscal Year.
Rule G-10.1.2. Expense Categories.
- Expense estimates in budgets presented by the Board shall be broken down by major categories or functions in such manner as the Board shall determine.
- The Current Fiscal Year budget shall contain a separate expense category provision for contingencies, the amount of which shall be a minimum of 3% of the total of all unrestricted expense categories, exclusive of the provision for contingencies.
Rule G-10.1.3. Estimated Income.
Income amounts in the budget for the Current Fiscal Year shall represent the Board's best estimates of income from all sources. Income from the Annual Fund as so estimated shall be an amount which is not more than 7 per cent greater than the actual Annual Fund income of the fiscal year preceding the Current Fiscal Year. In the budget for the Succeeding Fiscal Year income from the Annual Fund shall be estimated at an amount which represents the Board's best estimate of the achievable results for such year.
Rule G-10.1.4. Procedures for Budget Consideration.
Any action by a General Assembly with respect to budgets shall be taken under the following procedure:
- A budget hearing shall be held as part of the General Assembly program at a time when the Assembly is not in formal business session.
- Main motions concerning budgets which are to be made in a formal business session shall be filed in writing with a person or persons designated by the Moderator as early as possible prior to or during the General Assembly but in any event on or before the day prior to the Business Session at which the proposed motion will be in order for adoption. The Moderator shall take such steps as the Moderator considers practical to advise delegates and other persons or bodies as early as possible, preferably in writing, of the contents of the motions so filed.
- Any action with respect to the budget for the Current Fiscal Year calling for increased spending in any category shall provide for equivalent reductions in other categories of spending and specify the categories in which such reductions are to be made.
- No action may be taken with respect to the Current Fiscal Year budget which shall be inconsistent with either Rule G-10.1.2(b) or G-10.1.3.
Rule G-10.1.5. Board of Trustees Report.
At each General Assembly the Board of Trustees shall make an accounting of its actions taken since the preceding General Assembly with respect to any budget votes of the preceding General Assembly.