Budget & Finance Committee Primer

San Francisco Pride Celebration Committee, Inc.

Committee Structure & Authority

The Budget & Finance Committee is one of the standing Board Committees of San Francisco Pride.

Reference: 2.2 Committee Structure, lines 24-26

Key Points:

The committee is chaired by the Treasurer
All Board committees’ authority is limited by the Bylaws (Article 7, Section 1)
Only Board directors may serve as committee members

Core Responsibilities

1. Budget Preparation

The committee is responsible for developing the organization’s annual budget for Board approval.

Key Activities:

Review previous year’s financial performance
Gather budget requests from all committees and departments
Develop revenue projections
Create comprehensive budget proposals
Present budget to the Board for approval

2. Financial Strategy

The committee develops and recommends financial strategies to ensure the organization’s long-term fiscal health.

Strategic Areas:

Long-term financial planning
Investment strategies
Revenue diversification
Cost management initiatives
Capital expenditure planning

3. Financial Oversight

The committee monitors the corporation’s financial performance throughout the year.

Oversight Activities:

Monthly financial statement review
Variance analysis (budget vs. actual)
Cash flow monitoring
Financial risk assessment
Ensuring compliance with financial policies

Reference: 2.2 Committee Structure, lines 24-26

Financial Responsibilities

The committee should be familiar with the financial responsibilities outlined in the bylaws, including:

Board oversight of financial matters
Approval thresholds
Financial reporting requirements

Reference: C.07a Financial Responsibilities

Financial Accounting

Understanding the organization’s accounting procedures and standards.

Reference: C.07b Financial Accounting

Basic Financial Procedures

The committee ensures adherence to basic financial procedures for expense processing, reimbursements, and financial controls.

Reference: C.01 Basic Financial Procedures

Operating Reserve Fund

The committee oversees the organization’s operating reserve fund to ensure financial stability.

Reference: C.11 Operating Reserve Fund

Working Relationship with Audit Committee

The Budget & Finance Committee works closely with, but remains separate from, the Audit Committee:

Members of the Budget & Finance Committee may serve on the Audit Committee
However, the Chairperson of the Audit Committee may not be a member of the Budget & Finance Committee
Budget & Finance Committee members must constitute less than one-half of the Audit Committee membership

Reference: 2.2 Committee Structure, lines 40-41

Key Documents to Review

For comprehensive financial oversight, committee members should be familiar with:

C.01 Basic Financial Procedures - Core financial processes
C.02 Financial Protocol - Financial protocols and procedures
C.03 Board Staff Expense Policy - Expense policies
C.06 Bidding - Procurement procedures
C.07a Financial Responsibilities - Financial governance
C.07b Financial Accounting - Accounting standards
C.09 Loans - Loan policies
C.10 Grants Guidelines - Grant management
C.11 Operating Reserve Fund - Reserve fund policy

First Committee Meeting

At the first committee meeting following the October Board meeting, the committee should:

1. Chair Election

Confirm the Treasurer as committee chair (automatic per bylaws)

2. Organizational Matters

Review committee scope and responsibilities
Discuss meeting schedule for the year ahead
Submit annual meeting calendar to staff by January 1

3. Financial Review

Review current fiscal year performance (Oct 1 start)
Assess Q1 financial position
Identify any immediate financial concerns

4. Budget Timeline

Establish timeline for next fiscal year budget development
Assign responsibilities for budget preparation tasks
Schedule additional budget development meetings if needed

5. Strategic Financial Planning

Discuss long-term financial goals
Review operating reserve fund status
Identify upcoming capital needs

Suggested Meeting Cadence

Recommended Frequency: Monthly

Rationale:

Monthly financial statement review required
Ongoing budget monitoring essential
Regular oversight prevents financial issues
Aligns with Board meeting schedule

Meeting Duration: 60-90 minutes

Best Practice: Schedule meetings 1-2 weeks before Board meetings to allow time for financial reporting to the full Board.

Annual Calendar

October-December (Q1 of Fiscal Year)

October: First committee meeting; elect chair; review FY start
November-December: Monitor Q1 financial performance; begin budget planning discussions

January-March (Q2)

January: Submit annual meeting calendar to staff (by Jan 1)
February-March: Intensive budget development for next fiscal year; gather input from all committees

April-June (Q3)

April-May: Finalize budget proposal; prepare Board presentation
June: Present budget to Board for approval; monitor Pride event financial performance

July-September (Q4)

July-August: Review year-end projections; prepare for fiscal year close
September: Final FY financial review; prepare for new fiscal year (Oct 1)

Key Deadlines:

January 1: Annual meeting calendar due to staff
Late January: Prior fiscal year financial reports due to Board (within 120 days of Sept 30)
Before June Pride: Budget approval by Board

Reference: Annual Timeline

Important Considerations

Treasurer’s Role

As chair of the committee, the Treasurer:

Leads committee meetings
Presents financial reports to the Board
Serves as primary liaison with accounting staff
Ensures financial policies are followed

Confidentiality

Financial information, especially related to personnel compensation, contracts, and strategic plans, must be kept confidential.

Reference: B.05 Confidentiality

Conflicts of Interest

Committee members must disclose any financial conflicts of interest and recuse themselves from related decisions.

Reference: B.02 Conflicts of Interest

Document Prepared: January 4, 2026