# Finance Policy ## Operating Budget Process * TMAC will budget annually for a breakeven operating position, or an operating surplus to support its current working capital balance. * The preliminary budget will be prepared under the direction of the Treasurer for review by the Board in its annual planning cycle each year. * The annual budget will reflect the strategic priorities established by the Board. * The Treasurer, in consultation with the Board, will establish the financial requirements for existing or new programs * The final operating budget will be approved by the Board. ## Monitoring of the Budget Responsibility for monitoring the operating budget rests with the Treasurer of Organization who can recommend changes to the Budget as the year progresses in order to maintain a break-even position. ## Authorities Once approved, the Treasurer has the authority to make expenditures within the approved budget. ## Travel Expenses TMAC will reimburse any reasonable meal and transportation expenses associated with participation in Board meetings and duties delegated by the Board. Board directors must comply with the Travel Expense Policy. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://governance.tomediaarts.org/board-structure-and-roles/board-procedures/finance-policy.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.