The budgeting process should be reiterative, following an established cycle of planning, goal setting, and resource allocation. The organization should maintain a cash reserve equivalent to 50 percent of its average operating expenditures over three most recently completes years. In addition to the cash reserve specified above, an annual contingency fund will be set aside for unforeseen expenses. This amount shall equal some small percentage of annual operating expenditures, as determined by the Budget and Planning Committee. Treasurer projects income and expenditures, including funds available for operating expenses and for projects.
Budget committee presents annual operating budget for adoption by the board.
Proposal forms for project funding are distributed and explained to officers, committee chairs, interest group liaisons, etc. Completed project proposals are discussed and ranked by the board. A sum of the ranks is taken, and the project budget is developed and passed based on the results. Drafted by Gary Hunt and Margy Kramer, revised by the Executive Board, and approved by the board on April 13, 1993. Maintained by the ALAO Web Committee.