Budget, Corporate

Purpose

This policy outlines the basis of the theater's fiscal management.

Policies

The Williamsburg Players will operate on a July 1 to June 30 fiscal calendar for tax and budgeting purposes. This also roughly matches the seasonal year.

A projected budget total will be provided to each prospective director for upcoming season. A breakdown of expenditures per category will be provided to the director by the board. If any additional funds are believed to be needed above the projected budget, the director will need to justify it.

So long as a show stays within its budget, it has the freedom to change the amount spent in the various categories; e.g., set dressing, set construction, etc.

For general non-show expenses, estimated Budgets should be requested from each Staff member, committee head, and members of the Board for the functions they oversee. This is especially helpful if the projected amount will be significantly different in the upcoming year.

The Williamsburg Players maintains accounts with some local businesses; get a list from the Treasurer or Director for Production.

All receipts (both reimbursable and non-reimbursable) must be provided within 30 days by the responsible party to the Treasurer.

The President and Treasurer will coordinate the development of the annual budget. That will include setting the date for submittal, combining the figures, resolving minor issues, and presenting the budget to the Board for discussion, revision, or approval.

The budget will be approved on or prior to the July Board meeting (beginning of the new fiscal year).

The Annual Budget (and the previous year's final budget) will be available to the membership at the Annual Meeting. The report shall include any items that are unpaid.

Revision Notes

• 03/31/98 -- Initial inclusion in P&P Manual
• 02/20/14 -- Combined Corporate Budget and Financial Management.
• 09/01/14 -- Web revision
• 11/24/24 -- Board revision