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Designated monies reimbursing budget?

Our church spent 2000.00 in January 2010 from budgeted funds. In August 2010, a donor contributes 2,000.00 designated for worship. Does this mean the worship budget now has and additional 2000.00 as of August 2010 or can that money be used to reimburse the January 2010 expenditures? The long and short of the question. If a donor gives designated money for general account already in the budget, is the budget now increased to reflect the gift or does the gift reimburse the budgeted amount? Does the time of expense incurred and funds received influence the accounting practice?

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Designated monies reimbursing budget?

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Nov 17, 2010
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starstarstarstarstar 		Designated monie
by: Kathy

I'm not real fluent in this topic,however, I would think that if a donor is giving a certain amount designated for a certain account, such as Worship, then that amount could only be used in the Worship account for Worship expenses. That way the donor can see that what he/she gave has actually went to the Worship account for Worship items and not say a building expense item. That is the way we do it at our church. When a donor gives an amount designated for food pantry, it goes into that account and is spent only on food pantry items.
May 09, 2011
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starstarstarstarstar 		I'm Not Sure
by: Nazman

I'm not sure this answer actually addresses the issue, although it comes close. To me, the issue is: Does the designated donation reimburse the account, or does it add to the budgeted amount. I think it does both: Since my church maintains one checkbook account, I track designated funds individually. This means that I subtract from the balance when there's an expenditure, and I add to the balance when there's a deposit designated for a particular fund. In other words, I let the bookkeeping take care of the issue. If the result is a figure greater than the budgeted amount, it increases the fund; if the result is less than the budgeted amount, it simply reimburses the fund.

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