Section Budget

STAT on 
Updated: 02/07/2010


F.  Budget

The Section fiscal year is January 1-December 31 as is the Association budget.  The amount of money received by the Section from the Association is based on a capitation payment per primary member enrolled in the Section and is determined annually by the Association in accord with its principles for the allocation of membership income.

Primary responsibility for the development of the annual Section budget rests with the Chair. The Chair must submit the proposed budget to the Association for approval shortly after the Annual Meeting.  The budget should reflect the priorities of the Section as established during the meet-ings of the Section Council. Budget categories are prescribed by the Association, as are overall policies with respect to the payment for travel and expenses incurred in connection with the Association business.

Committee Chairs and Section Council members are responsible for estimating expenses for the forthcoming calendar year and submitting them to the Section Council and Chair at the Annual Meeting.

Committee Chairs and Section Council members are also responsible for developing, as part of their annual report to the Section Council, a record and an explanation of any expenditures. Over expenditures or unauthorized expenditures are the responsibility of the individual responsible for the spending, not of the Section Council or of the Section budget. All records of expenditures (e.g. receipts, invoices, etc.) must be sent to the Chair for approval before being sent to the Association for reimbursement.

At the close of the Annual Meeting, any unexpended funds shall be transmitted by the outgoing Chair to the incoming Chair to cover as yet unreimbursed expenditures and any expenditures to be incurred between the Annual Meeting and the end of the calendar year, a period of approximately two to three months.