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15 JULY 2020THE CITY MANAGER THE EXECUTIVE MAYORMUNICIPAL FINANCE MANAGEMENT ACT (MFMA): PRELIMINARY MONTHLY FINANCIAL REPORT FOR THE PERIOD ENDED 30 JUNE 2020 (MONTHLY BUDGET STATEMENT) 1.PURPOSE
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Identify the purpose and objectives of the budget amp treasury committee.
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The Budget and Treasury Committee is a committee responsible for overseeing the financial management and budgeting processes within an organization, ensuring fiscal responsibility and effective allocation of resources.
Typically, organizations with designated financial committees, including non-profits, governmental entities, and corporations, are required to file the Budget and Treasury Committee reports.
To fill out the Budget and Treasury Committee report, gather financial data, outline planned budgets, include forecasts and justifications for expenses, and ensure accurate representation of financial health before submitting.
The purpose of the Budget and Treasury Committee is to ensure that an organization's budget is aligned with its strategic goals, monitor financial performance, and safeguard the organization’s financial assets.
Information that must be reported includes budget estimates, actual expenditures, revenue sources, variances, and any significant financial issues that may affect the organization.
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