Report Period
-
Introduction
The Treasurer is responsible for overseeing the financial aspects of the Division and strives to make the Division finances as transparent, efficient, and understandable as possible.
Information Since Last Report
- The Division ended 2023 in a strong position financially. The overall return on our unrestricted funds was 16% and we ended the year with about $2.1M in unrestricted funds.
- We have begun a review of the Division Travel Policy to update it and include more complete guidelines for reimbursements.
- As approved by ExCom, we have established a separate account for the Biennial Conference Committee and BCCE so that the expenses and potential income from BCCE are accounted for outside of our operating budget.
- We have also established a Special Projects fund of $125,000 to support selected activities outside of the annual budgeting process. The first activity to be supported from this fund was the Division Strategic Planning Retreat which took place in January, 2024.
Future Plans
- We will complete the examination of the Travel Reimbursement Policy and bring proposed changes to the Finance Committee for consideration and possible recommendation to ExCom.
- We will initiate an annual review of all Division finances with an eye toward sharing information between the various units of the Division and also finding ways to increase the pool of money available from all sources to best serve the needs of our membership as determined by the implementation of our new Strategic Plan.
Did your committee request funding from DivCHED in the past budget year?
No
Report Type