Budget Policy

How We Manage Our Money

This budget policy document was passed unanimously by the BJCP Board of Directors on 27 April 2007. It was amended on 27 May 2016 and 15 November 2021. 


The BJCP Bylaws (“Bylaws”) direct the BJCP Treasurer (“Treasurer”) to prepare an Annual Budget (“Budget”) for approval by the BJCP Board (“Board”), to monitor the Budget throughout the year, and to report on the status of the Budget to the Board throughout the year. This policy describes how these activities are to be handled.

The BJCP Budget is required to fund program operations and approved projects. The Budget represents a plan of financial operations for the year estimating proposed expenditures and proposing the means of financing them. The Budget must be approved by the Board in order to be in effect. A simple majority vote is required to approve a Budget.

The Fiscal Year of the BJCP is defined as the Calendar Year (1 January to 31 December).


The Budget will include estimated revenues based on anticipated income from continuing operations. The Budget will include a basis of estimate for these revenues. The Budget will fund ongoing program operations for the established program directorates (Exam, Competition, Information Technology, Continuing Education, Communications, and any others established at a future time). The Budget will consider anticipated new projects benefitting the membership (developed either from directorates or established committees) in the funding process. Projects may have initial start-up costs, as well as recurring costs.

An Emergency Reserve (“Reserve”) in the amount of US$5000 is to be maintained at all times, unless authorized by an express vote of the Board. The purpose of the Reserve is not to fund normal program operations, but to be used for emergencies or critical program needs at the discretion of the Board. A vote to use any or all of the Reserve requires a minimum of at least two-thirds of the board to vote in the affirmative. The vote to use the Reserve is in addition to any vote to approve a Budget or a non-budgeted expense.

Budget expenditures do not have to equal projected revenues (i.e., the Budget does not need to be in balance). If projected revenues exceed expenditures, the excess will be identified as Retained Earnings to be added to the program treasury. If projected expenditures exceed revenues, the excess will come from any surplus funds in the program treasury, provided it does not use any portion of the Reserve. Some new projects may have one-time start-up costs that will require spending from the accumulated surplus in the current year. However, recurring expenditures from the accumulated surplus should be examined to determine if adjustments in revenues or expenditures need to be made so as not to spend the Reserve.


The Board has the prerogative but not the obligation to allocate all projected revenues and retained earnings in excess of the Reserve as part of the annual Budget process, or in approving a non-budgeted expense during the course of the year. Excess program funds should be spent on products, services and programs that benefit the membership. If no suitable expenditures can be identified, the excess funds will be retained in the treasury. If persistent surpluses are generated and there are no potential member projects on which to spend the funds, the board will assess and discuss the fee structure for program income sources to decide if adjustments are appropriate.

Once the Board approves the Budget, Directors of the funded directorates and Chairmen of the funded committees have delegated Budget Authority to spend up to the amount approved for the directorate and/or committee. The expenditures must be in accordance with the directorate mission or committee charter, otherwise approval by the Board is required.

Expenditures not anticipated in the Budget cycle may be proposed at any other time by a Board member, a Director, or a Chairman. A majority vote of the Board is required to approve the expenditure. Once approved, the Budget will be modified to add the new funding to the appropriate budget line item. These unanticipated items may be new projects, or additional funds for approved Budget items where expenses are higher than forecast.

The approved Budget is the authority not the obligation to spend the money. Approved monies not spent during the year are returned to the program treasury.


Those with Budget Authority and making approved expenditures may either incur expenses directly, and request reimbursement from the Treasurer, or arrange for direct billing with the Treasurer. The person approving the expenditure must inform the Treasurer of the nature of the expense, and provide supporting documentation as requested by the Treasurer.

Checks issued by the BJCP for US$500 and above require the signatures of two of the Officers as defined in the Bylaws (Treasurer, President, Vice- President) or one of the Officers and the Finance Director.