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Understanding the TBE Budget Process 

03/07/2022 03:34:09 PM

Mar7

As we start to prepare our 2023 budget, we are able to project the income we will receive from the 2022 membership contributions through annual renewals. Our renewals are based on a calendar year, but our fiscal year runs from July to June. Yes, it’s confusing! But this explains why we start our budget process in February.  

The first of many steps, beginning in February, is gathering input from committees. The budgeting for programming by our committees accounts for about 20% of our budget. The larger portion of our budget is accounted for by personnel and building costs. 

TBE staff work with their committees to determine programming for the next fiscal year and how much to allocate to these programs, accounting for revenue and expenses. The deadline to complete these committee-driven budget worksheets is in March. During the next phase, the executive director and staff work together to analyze and finalize numbers to be entered into the budget. Together they go through the worksheets to see how they compare to the previous year and whether anything new for the upcoming year requires a change to the budget. Once the staff worksheets have been finalized and entered into the master budget, this information is brought to the Budget Committee (made up of the Executive Committee and Finance Committee) for approval. This is typically done in April. If adjustments are recommended, they are brought back to the staff member responsible for that area. 

After the Budget Committee approves the budget, it is brought to the Board of Trustees for approval. Discussions might include looking at variances from the previous year, such as budgeting for new programs or offerings. The goal is to pass the budget during the May or June board meeting.  

To get an up-close, hands-on look at the budget process, join a committee! Input from committees is a crucial aspect of the budget process, and joining a committee is a great way to be involved in TBE. If you want more information about joining one of our committees, please contact Kendra Sager. 

April 30, 2025 2 Iyar 5785