What is the budget cycle for BCS Member Groups?

Created by Laurence Cain, Modified on Mon, 17 Nov at 2:20 PM by Laurence Cain

Month	Description
February	Community Groups are invited to submit a financial plan. Deadline for submission will be advised in the Budget Pack email sent out by the Community Groups Team (CGT) each year.
March	Groups draw up their initial financial bids detailing proposed activities and send completed financial planning forms to the CGT to collate. The CGT will apply policy and consensual guidance to the proposals received, and provide feedback to Groups as necessary.
April	First planning review meetings with Community Board Finance Committee to do a first pass on the proposals, and comments from the CGT. Corrections made where necessary and final bid to Trustee Board prepared.
May	CBFC agree Groups budgets for routine running costs. Initial allocations made and an Unallocated Reserve created.
June/July	Trustee Board meets to approve BCS budget. Final Community Groups Funds for the forthcoming financial year are confirmed.
August	Community Groups are notified of agreed budget allocation in the light of the confirmed budget from Trustee Board.
1st September	Start of new financial year.
September - August (Year +1)	CBFC consider requests for additional funding (new projects, potential overspend, adjustment to budget line allocation) from the Unallocated Reserve and from the recovery of any previously allocated funds not required. Branches and Groups spend according to their allocation budget lines. Any deviance from the approved split for the full year needs to be communicated with the CGT before expenditure is committed as it may require prior approval of CBFC.
February (Year +1)	Cycle starts again.
31st August	End of financial year.