Glossary of Mostly Budget Terms   0062-07   ZZall

                                                               - - - Rejoice in the Lord always ... again I say Rejoice !!! - - -


                              TO:  Interested Ministries                                                                              FROM: Jim Bramer, Retired Auditor-CPA
                                                                                                                                                             FILE: 0062-07/all

                               RE: Glossary of Mostly Budget Terms                                                      Originated:  March 1998                                


ACTUAL TO BUDGET  or A to B Reporting

   A term used to compare what has actually happened to what was supposed to happen; it is sometimes reversed ... BUDGET TO ACTUAL.


ADJUSTED ANNUAL BUDGET

   Sometimes Ministry plans change during the fiscal year requiring the governing bodies to change to a new approved spending budget.  See some financial policies related to this when you click here.


ALTERNATIVE TO THE USUAL LINE ITEM BUDGET   

    Please go Here   and read about the alternative to the usual expense line item budget method.  This method helps you control your spending when you place receipts into to a BuxBoxes (like Envelopes, etc.) and you spend only what is within that BuxBox, etc.


APPORTIONMENT

   Term used to describe the pre-approved distribution of discretionary money to DAGS  or BuxBoxes; this is preferable done on a weekly basis. Also see the BuxBox process below.


AUTHORIZED ANNUAL BUDGET

   As approved by the governing bodies of the Ministry and becomes the 'yard stick' for spending during the following fiscal year.


 BUXBOX

    An alternative method to the expense line item process, or you place money in categorized BuxBoxes. If there is a balance in the BuxBox then buying can take place.  No balance in BuxBox no can buy.  The system can assist a struggling Church or Ministry as it lives within the money placed within a  BuxBox Or a  BuxBox  method can be used as an alternative to the  Envelope  method used successfully by many Christians in carrying out their  Righteous Personal Finance  commitments.  Be especially aware of such Internet Centric (or Ministry Finance Internet Friendly)  resources when you digest the content when you go  HERE .


BUDGET

Pre-approved financial spending


DAG - Dollar (Department) Accountability Groups

    Ministry areas that are managed by a specific Ministry Team Leader who has money responsibilities for this certain focused area.


DEPARTMENT

Section or program group of a Ministry


DISCRETIONARY

    Term used to declare that there are no 'strings attached' to funds on hand; the Board of Leadership makes the use choices.


DONATIONS-UNRESTRICTED

    Contributions/Gifts/Donations that come into the Ministry with no 'Please use' preferences. The Ministry's Board conclude how to spend, etc. Often referenced as money coming into the General Fund.


FinCom - FINANCE COMMITTEE

A Committee of the Board of Leadership


FYE - FISCAL YEAR END

As opposed to the calendar year and year end, or 1/1/xxxx to 12/31/xxxx.


GAAP and Budgets

        Please Go Here and Here  for some information about Budget aspects of  GAAP, etc.


GPFund - GENERAL PURPOSE FUNDS

    Money controlled completely at the discretion of the Ministry Board for the General Exempt purpose of the Ministry. Generally controlled by pre-approved spending budgets.  Information Here  is helpful here.


JIMs JRNL

        Click Here
and go to an alpha list by JIMs JRNL topics and search for Ministry Budget information.


LINE ITEM

    A term that applies to expenses; See NAT expenses; Often a method to compare Actual to Budget. An example of a expense line item is "Utilities" and you can compare the Actual Costs of Utilities for a time period to what was Budgeted for this NAT expense.


MFTEAM - MINISTRY FINANCE TEAM

Sometimes functions as an alternative to the Board's Finance Committee.


MISSIONS

Often a DAG group of a Church Ministry.


NAT (NATURAL EXPENSES)

     Way to identify kind or types of expenses; usual samples are: Salaries/Benefits; Operating supplies (per detail needed); Operating expenses (per detail needed); includes Internal transfer of  Funds (per detail needed). As opposed to 'why' the expense, or Ministry or Program ID, or grouping.


PLANJECTING - PJECTING

    A contraction of the words "Planning" and "Projecting"; as the Ministry has applied the principal of converting plans to dollars as final spending budget is determined and authorized.  Go Here  for more details.


PROG - PROGRAM EXPENSES

    A way to categorize expenses by operating unit; or Ministry and/or Program ID -- groupings. This concept closely ties in with DAGs. See DAG Info; As opposed to Natural expense, or kind of expenses ... see NAT info.


PROGRAMS

Ministry groups; DAG; like Music, Youth, AWANA, VBS, etc.


PROPOSED BUDGET

A preliminary spending plan flowing through the various bodies of the Ministry.


SPENDING GROUP

Another term for a Ministry focus group who spends money.


SPENDING CONTROLS

    This term obviously means that you have some discipline in this aspects of life.  Generally this implies that a budget is in place.  After July 2006 , please go to  www.qbuxbox.org    for some designed assistance in this finance area that applies to both Christian families or individuals plus small Ministries who handle $500,000 per annum.    


SPFUND - SPECIAL PURPOSE FUNDS

    Generally money provided by Donors for a particular Board approved special purpose; expenditure is controlled simply by any residual balance remaining in the specific fund; pre-approved expense budgets are seldom applicable. The Board sometimes sets aside certain discretionary monies via the Budget for an assigned Special Purpose.


STAFF COMPENSATION

Often a DAG group of a Ministry; salaries and benefits of the staff.


Truisms regarding Church Budgets

                                            Please Go Here for such a list


YTD - YEAR TO DATE

     Normally used to indicate the historical months since the first of the fiscal operating year.


         This publication originated in March 1998 and was   UPTD: March 09, 2012  

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