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:
* [[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 the [[Board]] for their adoption Note that this process does not later than address cash flow issues, and at various times, the last regular meeting scheduled for each budget year. Earlier may allocate more than is better, with August being the preferred monthavailable. Should a budget not be adopted before the start of the fiscal year (1 January), [[Headquarters Staff]] will discontinue all expenditures save those approved at each meeting of the Board. This may cause the Society attempt to default on some debts, or to discontinue some programs. The Board may adopt a "continuing resolution" to extend the prior year's budget on a pro-rata basis. While this may suffice for many routine expenses, there are a number of important annual payments this plan would not address (impose such controls as storage unit and [[Headquarters]] rent)may be needed.
