$ For This, $ for That

As Financial Planning (FP) “plans” the use of our finances it only makes sense that the Financial Planning Committee would decide the expenditures of this money as well as planning how the money can be earned in the first place. This is fully covered in the FP policies.

What may not be (and has not been) so apparent is what kind of expenditures FP would decide on. Here are a few examples which may help clear up some recent confusions:

• money for buys
• money for inventory
• money to replace inventory
• new watch lines
• trips to the Vegas and Basel show
• incentive prizes
• computer programs
• forks!

In short all expenditures. Any other solutions have been “unusual” to say the least and are a result of poor or no FP.

As FP will meet weekly one need not have to “wait forever” to get moneys allocated. The FP committee will operate on the basis of investing funds in areas and projects that will bring in more income from the project than invested. FP will have to make tough decisions as there are sometimes more requests for expenditures that there are available dollars.

The FP committee will be composed of those with the experience and ability to wisely spend and more importantly earn money for the organization. As we get more organized there will be specific posts that sit on the committee and will become standard per policy.

Special orders are just that: “orders”, fully paid. They need not go through FP but should be coordinated with inventory in case the special order is on the way and so that inventory has the data for use.