FINANCIAL PLANNING
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Definitions
1. the financial planning hat is worn by the Advisory Council. Financial planning means-how to handle the money and assets of an org so as to maintain outgo below income. The actions of financial planning are as follows: (1) directing the payment of bills (as designated by the Advisory Council), (2) directing any necessary delay in the payment of certain bills, (3) handling finances in accordance with "dateline paying" as covered in an early policy letter, (4) setting limits on the purchase orders that may be signed, (5) preventing divisions or departments in emergency from buying any but essential promotional supplies or postage, (6) adjusting payrolls, (7) setting limits on pay, overtime or bonuses and all authorizations for pay overtime or bonuses, (8) fixing prices, (9) directing any transfer of funds, (10) deciding upon any large purchases, (11) authorizing the sale of any equipment or property, (12) passing upon prices offered for any equipment or property. Any matter affecting the financial health of the organization has to be passed upon or planned by the Advisory Council. (HCO PL 26 Nov 65R)
2. financial planning is how one uses the funds one has to keep things running well and make more income. (BPL 19 Mar 71)
3. is the way you lay out money sensibly within the limits of the money available in order to keep things going well and make more money. (FO 2480)
4. consists of what to spend money on per division and what bills to pay according to dateline paying. (HCO PL 19 Oct 67 I) . the basic purpose of all financial M.1-5 is to increase the wealth and assets and value of assets of the company and the general well-being and security of all its members and so contribute to the purposes and activities. (FO 2057)
5. in essence is the sensible allocation of funds on necessities. (FO 2480)