PROGRAM BUDGETS

 

1. Budget Development

Annual program budgets are prepared by the Budget/Contracts Manager in consultation with the Program Director and Division Manager. The final proposed budget must  be reviewed and approved by the Director of Administration and Finance and the CFO before being submitted to the Board of Directors for their approval.

2. Budget Amendments

Program budgets may be amended in either of the following two circumstances.

A. If there is a major change to the program, such as an award of a new grant for program development, the budget would be amended to reflect the program change.

B. Two or three times annually, at the discretion of the Chief Financial Officer, proposed amendments may be submitted to program budgets.

Budget amendments are developed with the same process and require the same approvals as the original budget development (See Item 1. above).

3. Budget Management & Monitoring

Management of program budgets is the responsibility of Program Directors, under the supervision of the program's Division Manager.

Each Program Director will be provided with monthly Budget/Expense reports for his/her program. Copies will also be provided to the Division Managers, and the Director of Administration and Finance, and the CEO. If, on reviewing monthly reports the Program Director or Division Manager believes that some expense items may not be correct, s/he should bring this to the attention of the CFO or the Budget/Contracts Manager, who will research the costs and report back to the manager and/or correct any errors made, as appropriate.

Division-wide budget reports will be reviewed monthly by the Division Managers, the Director of Administration of Finance. If any concerns arise during this review about a program not complying with its budgeted revenue or expenses, the Division Manager will meet with the Program Director to address and correct the problem (s).

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