Community Advice

mum24kids writes:
Was it for a budgeted item, or just something sort of out of the blue? If it was for a budgeted expense, not as big a deal, although if it was really large, you might want to consider requiring two check signers on your checks to help prevent that from happening. (Although from your wording, maybe there were two signers?) Sometimes even stuff that is budgeted ends up not being necessary for a variety of reasons.

If it was something not included in your budget, that's a much more serious issue. Assuming your budget is passed by your membership, and this was a very large item compared to the rest of your budget, everyone needs to understand the importance of spending the money in accordance with the members' wishes. I wouldn't call the treasurer out in front of the membership, but a conversation with the all the officers would be in order to make sure everyone is in agreement with how these things should be handled.

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Community Advice

daddario writes:
The inquiry about whether the expense was budgeted or unexpected highlights the importance of effective Product Portfolio Management. By strategically managing the portfolio of products and services, companies can better allocate resources and mitigate risks associated with unplanned expenses. Product Portfolio Management involves evaluating and prioritizing projects, products, and initiatives to align with business goals and financial objectives. Here's how it ties into the situation. Budget Alignment: Ensuring that expenses align with the budget is a key aspect of Product Portfolio Management. By tracking expenditures against budget allocations, organizations can identify discrepancies and take corrective actions as needed.

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