2019 Budget Vote

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History

  • 2019-01-27 - Vote announced on the mailing list
  • 2019-02-14 - Language locked in.
  • 2019-02-19 - Vote of the membership on this budget.

Background

Aims

This budget is designed with the following goals:

  • Make sure there is savings set aside for 9 full months of operating expenses.
  • Set aside funds for other emergency expenses such as health and safety, building maintenance/improvements/code complaince, and city occupancy.
  • Authorize the Board to spend money on normal administrative expenses not already authorized by the bylaws.
  • Predict expenditures based on a conservative membership model that shows 0% growth based on January 2019 membership and income calculations.

Budget Overview

Account Annual Description
Current Bank Balance $179,570.84
Projected Income $284,160.00 From member dues
Operational Budget -$151,358.46
Administrative Expenses -$43,458.00 For membership approval
Area Budgets -$73,795.00 For membership approval
Outstanding Votes -$26,000.00 Votes not yet expired and voted on by the membership - not included in "Savings Requirement" calculation
Discretionary funds available for votes $40,119.38

Operational Expenses + Savings

Account Monthly Annual Annual Total Description
Bank Charges / Fees -$75.00 -$8,088.24 -$8,988.24
Rent $0.00 -$94,561.22 -$94,561.22
Utilities $0.00 -$32,750.00 -$32,750.00
Insurance $0.00 -$6,559.00 -$6,559.00
Professional Services $0.00 -$8,500.00 -$8,500.00
Savings Requirement $0.00 -$129,000 -$129,000 9mo of operational expenses. See 1.
Total -$75.00 -$279,458.45 -$280,358.46
  1. The savings requirement is an emergency fund that puts a minimum amount of funds aside to cover 9 months of operational expenses of Bank Charges/Fees, Rent, Utilities. It includes 12mo of insurance. The value is rounded up to the nearest $1000.

Additional Notes

  • The Technology (chaired by the CTO), Public Relations (chaired by the PR Director), Events (aka Meals and Entertainment) are budgets chaired by the CTO, PR Director and Events Volunteer respectively. Funds are allocated to those roles, but are considered part of the administrative budget.
  • The treasurer must produce a report for each month, by the end of the following month, showing spending/income against all budgets.
  • Funding of savings goals/accounts should be amortized over the year. Spending in other categories can still occur before these goals are met.

Area Host Budgets

Area Annual Cost Link
2019 2D CNC Area Budget Vote -$1,555.00 Worksheet
2019 3D CNC Area Budget Vote -$3,200.00 Worksheet
2019 Lasers CNC Area Budget Vote -$7,210.00 Worksheet
2019 Industrial CNC Area Budget Vote -$6,930.00 Worksheet
2019 Cold Metals Area Host Vote -$7,000.00 Worksheet
2019 Electronics Area Budget Vote -$4,850.00 Worksheet
2019 General Area Budget Vote -$5,000.00 Worksheet
2019 Graphic Arts and Textiles Budget Vote -$6,100.00 Worksheet
2019 Hot Metals Area Budget Vote -$8,000.00 Worksheet
2019 Kitchen Area Budget Vote -$3,600.00 Worksheet
2019 Small Metals Area Budget Vote -$8,000.00 Worksheet
2019 Woodshop Area Budget Vote -$12,350.00 Worksheet

Previous Spending Authorization Expiration

Language

This vote is to authorize the budget for the fiscal year of 2019, which goes into effect January 1, 2019 and expires December 31, 2019.

The following expenditures and allocations are approved by this budget:

Administrative Expenses

Authorize the board to spend up to -$43,458.00 to cover administrative and emergency expenditures for the fiscal year of 2019.

Account Annual Total Description
Technology Equipment / Supplies (CTO) -$12,568.00 CTO Budget
Advertizing - Public Relations (PR) -$2,100.00 PR Budget
Meals & Entertainment - (Events) -$3,400.00
Office Expenses -$10,600.00 Includes cleaning services
Member Points -$14,790.00

Savings Requirements

  • The board of directors must set aside $8,500 for professional service.
  • The board of directors must set aside $127,000 as a savings requirement that covers 9 months of operational costs, which includes an allocation of $20,000 towards costs incurred from health and safety within the facility and city occupancy and building code requirements. These funds are to be used in case of emergency or in instances where health and safety issues become evident, the determination of which is left at the discretion of the board of directors and shall be noted in the board meeting minutes.

Miscellaneous

  • All votes that occurred in the 2018 fiscal year expire as of the passing of this vote.