The MCR budget section allows the VP Finance/Treasurer to easily communicate with chapter leaders how much money they have available to them and to avoid overspending and errors.
As you enter information in your financial/checking management program (such as BillHighway, GreekBill, OmegaFi) you should also enter that information into MCR so that the budgets that each leader sees is up to date and accurate at all times.
These budgets should be cleared down at the beginning of each fiscal year. A fiscal year is the 12 month period that defines the calendar dates for your yearly budget. For most non-profits (including sororities and fraternities) the fiscal year runs August 1 - July 31. Any bills for the previous year should be paid by July 31 or they will be debited against the new fiscal year.
The following should be completed by the VP Finance/Treasurer:
After July 31, you will need to download your budgets from MCR so that you have a record of all your information. (This is still good practice even if you have it in another financial program, such as BillHighway, GreekBill or OmegaFi)
If you need the details within each individual budget you can open the individual budgets and print to PDF to save those details if necessary.
You will need to go into each budget and delete the individual line items, by clicking the "x" to the right of the description. If the total amount for the budget has changed for the year, you will click in the "starting amount" box and type the new amount for the budget.
You should also verify that each budget is assigned to the correct leaders (Chapter President, Advisors, and VP Finance will have access to all budgets without assigning them) so that each leader has access to their budget information at all times.
If there is a budget you no longer need or a new budget you need to create, you will follow these directions.