Budget Policy

1. The FVC shall Chair a Budget Committee whose members will include the Lodge Key Three as well as those members of the LEC selected by the FVC.

2. The purpose of the Budget Committee shall be to form a budget for the next fiscal year of the Lodge.

3. The budget committee shall be an Ad-HOC committee and dissolve after the Lodge Budget is approved. However the FVC may convene the committee at any time to assess the current budget.

4. The Lodge Budget shall be submitted in October and Approved in November by a 2/3 vote of the Lodge Executive Committee.

5. The Lodge budget shall be balanced, adding to the reserve if possible.

6. There shall be one exploratory budget meeting and at least one follow-up meeting of the budget committee before the October submittal.

7. The purpose of the exploratory budget meeting will be to have each chairman or chief present his budget with advisers initial and justification as well as any request for rollover of funds.

8. The purpose of the aforementioned follow-up meetings will be for the budget committee to weigh all budget requests and to form a balanced budget.

9. Individual line item budgets may be changed with the prior notification of the FVC or Lodge Chief and a majority vote of the Lodge LEC.

10. The Lodge budget may be amended with a 2/3 vote of the Lodge Executive Committee.

Last Revised 09/20/2001