Licking/Knox Goodwill Industries, Inc.
Policy and Procedure Manual
Finance
Page 1 of 1
11.04 Annual Budget Policy: It is the policy of Licking/Knox Goodwill Industries Financial Department to prepare an annual budget. Procedure: Budgets or budget information shall be submitted to the Financial Department from staff responsible for their individualized areas by October 15th of the preceding fiscal year. The Financial Department shall review the proposed budgets or budget information and edit if necessary. From the individualized budgets, a total operating budget will be created. The proposed annual budget will be presented to the Finance Committee for review and approval no later than the December Committee meeting of the preceding fiscal year. Upon the approval of the new annual budget by the Finance Committee, the budget will be distributed to the full Board of Trustees for their review by the final board meeting of the preceding fiscal year. The proposed annual budget must be recommended for approval by the Finance Committee to the Board of Trustees, and must be approved by a majority vote of the Board of Trustees.
Adopted: 11/94 Reviewed/Revised: 4/97, 11/97, 11/98, 6/02, 10/04, 09/09
