Funding for a project depends on the type of project. Questions regarding the appropriate source of the funds are directed to the Divisional Secretary prior to submitting the project for approval.
As the project progresses, if funds are depleted due to change orders or excessive spending, a revision to the funding scheme is required to be processed through DHQ to be approved by THQ. The Divisional Secretary informs the local unit as to where in the budget they are in comparison to other locally held records.
If funds are exhausted due to overspending, the local unit may be responsible for the overage. If THQ disapproves of the funding revision, the local unit is responsible for funding the difference.
When preparing a revised budget, utilize the following categories:
- Purchase of property.
- Furnishing of equipment.
- Architectural fees.
- Fees or permit costs.
- Total expense.
If a Redemption loan is part of the finance scheme, a credit report needs to be completed to show the following:
- General fund balance from the last month.
- Local liabilities over 30 days old.
- Accounts payable to DHQ or THQ over 30 days old.
- General reserve balances at DHQ.
- Amount of endowment earnings held at THQ.