LMCP_Lodge Finance

May

Create and discuss a first draft of the budget without including lodge dues. Incorporate prior year results, data and other considerations from the secretary’s annual report, the investment committee and any other source of identifying revenue or expenses. Incorporate your planned program of events. Review degree fees for relevance and appropriateness. (Note: The Member Experience LMCP course covers program planning in greater depth.) Complete exercise to determine the minimum fixed fee of dues necessary to fund the budget. (See Chapter 7: Resources). Create and discuss a second draft of the budget. Update membership information and any other changes to the data collected above, including the investment distribution and hall transfer. Determine if an increase in dues or fees is necessary to fund the budget. (Note: LMCP Course on Lodge Administration provides instruction in the process required to change the dues or fees.) July

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