Each year the THS P&C prepares a budget to cover part 1 (contribution management) and part 2 (trading businesses). The budget is presented at the AGM.
With a known shared budget it allows each of the groups in either part 1 & part 2 to get on with their activities with these pre-determined known financial funds/surplus requirements - this makes the cycle of decision making much shorter and more timely outcomes for the THS community.
A summary of the budgeting process ...
Part 1 - Management of contributions by parents and surpluses from community owned businesses.
This part of the budget preparation takes the form of collective working with the school leadership to determine the funding of each of the four core programs (by-your-side, together, start up & environment)
Part 2 - Community owned trading businesses.
This part of the budget preparation takes the form of working with the sub-committees and general manager to; 1. Determine the expense budget, 2. Nominate a projected surplus as per P&C policy, 3. Set the income budget to achieve this.
Expenditure outside of pre-approved annual budget
Any expenditure over $10,000 that is not within the committee's pre-approved budget must be approved by the committee as per the by-laws.
Programs supported by the budget; by-your-side, together, start up & environment.