The Augustan Society, Inc., has established proposed a '''Finance Committee ''' under the chairmanship of the [[Treasurer]] or an Assistant Treasurer he appoints for this purpose.
Some members of the Finance Committee are ex officio appointments to represent various groups. These are:
* Society — Treasurer
* Headquarters — [[Assistant Treasurer]]
* [[Fundraising Committee]] — Chairman
* [[Order of the Augustan Eagle|OAE]] — [[Eagle Receiver General]]
* [[Society of Descendants of Scotland|SDS]] — Dean
* [[Society of Descendants of the Conquest|SDC]] — Dean
* [[President]] — ex officio
The Treasurer may appoint such additional members as he may see fit, those serving at his pleasure. Of late, these have included:* [[Assistant Treasurer for Budgeting]]
The duties of the Finance Committee are would be to propose to the [[Board]] annual budgets for:
* The Society
* The [[Order of the Augustan Eagle]]
and to set the investment policies for Society funds, including primarily the [[Investment Fund]].
Budgets Previously, budgets for the sub-groups shall be were solicited from them, and those approved and submitted by the deadline announced by the [[Treasurer]] will were to be given all possible deference.
Budgets Previously all budgets had to be recommended to the [[Board]] for their adoption not later than the sub-groups arriving after the deadlinelast regular meeting scheduled for each budget year. Of late, or which are due to a profound lack of interest, a "permanent budget" has been employed, rolling over year by year, with only amendments coming to the recommendation attention of the Receiver General and ChiefBoard for approval, or the Dean, shall be given as much deference as may be possible and those at that point in the processany meeting.
Budgets As expenditures by sub-groups are rare, their financial activities are generally handled on an ad hoc basis, save for all groups must be made in cognizance of the cash flow situation. No budget that can reasonably be expected to require more liquid reserves than might be available in any month should be recommended to the Boardannual administrative fees.
All budgets must be recommended to Note that this process does not address cash flow issues, and at various times, the budget may allocate more than is available. [[BoardHeadquarters Staff]] for their adoption not later than the last regular meeting scheduled for each budget year. Earlier is better, with August being the preferred monthwill attempt to impose such controls as may be needed.
Should a budget not be adopted before the start of the fiscal year (1 January), [[Headquarters Staff]] may, with the approval of the [[President]], extend the prior year's budget on a pro-rata basis. Should a [[Directors|Director]], the ''[[Magister Rosae]]'', or the [[Committee Chairmen|Dean]] of a sub-group object, no further expenditures will be made on behalf of that group until and unless the Board adopts a budget for them.
The [[Board]] is admonished that the lack of a Society budget means the lack of a [[Headquarters]], with the resultant termination of activities there!----
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