Difference between revisions of "2015 Budget Vote"
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=== Area Host Spending === | === Area Host Spending === | ||
| − | * Area hosts are authorized to spend up to the budgeted amount listed in the | + | * Area hosts are authorized to spend up to the budgeted amount listed in the master budget page. The spending of this amount should be prorated over the year to allow the organization to collect the required income to fund the spending. |
* Area hosts are authorized to spend up to $750 for any single capital expenditure. | * Area hosts are authorized to spend up to $750 for any single capital expenditure. | ||
| − | * Area hosts may spend any amount to replace or repair existing tooling or machinery. Replacements must be the exact same item. Any upgrade or different tooling or machinery that serves the same purpose would require a member vote to authorize spending. | + | * Area hosts may spend any amount within their budget to replace or repair existing tooling or machinery. Replacements must be the exact same item. Any upgrade or different tooling or machinery that serves the same purpose would require a member vote to authorize spending. |
| − | * The categories in each individual area host budget are guidelines and area hosts are not required to spend their money exactly as allocated | + | * The categories in each individual area host budget are guidelines and area hosts are not required to spend their money exactly as allocated on the master budget page. |
* Area hosts will be issued a expense card with an initial value of $500. | * Area hosts will be issued a expense card with an initial value of $500. | ||
** Area hosts must complete an itemized expense report after spending any money on an expense card. | ** Area hosts must complete an itemized expense report after spending any money on an expense card. | ||
** Area hosts expense cards will only be replenished after the board has processed the expense reports. | ** Area hosts expense cards will only be replenished after the board has processed the expense reports. | ||
| − | ** Area hosts must request additional funds be placed on their card to cover purchases over $500 | + | ** Area hosts must request additional funds be placed on their card to cover purchases over $500. Funds will not be added to cards with missing expense reports. |
=== Board of Directors Spending === | === Board of Directors Spending === | ||
Revision as of 03:47, 19 January 2015
Sponsor
- Tom
- Justin
- Jenny
History
- 2014-11-05 - Sponsor Meeting 1
- 2014-12-04 - Sponsor Meeting 2
- 2014-12-11 - Sponsor Meeting 3
- 2015-01-06 - Vote announced on the mailing list
- 2015-01-20 (planned) - Language locked in.
- 2015-01-27 (planned) - Vote of the membership on this budget.
Background
Aims
This budget is designed with the following goals:
- Make sure there is a real operating slush based on actual spending (2 months full, 5 months min operating expenses)
- Make sure that there are enough funds available to cover our upcoming tax bill
- Make sure that there is an emergency cash pile available for other emergency expenses other than operating
- Provide area hosts with more spending power to provide better service to the membership.
- Start saving for the upcoming move in FY16
Big Picture
| Account | Amount |
|---|---|
| Member dues income from PayPal | $186,960 |
| Amount Currently in Bank accounts | $63,000 |
| Operating Expenses | -$92,381.96 |
| 5 months minimal operating expenses | -$46,178.70 |
| 2 months full operating expenses | -$14,546 |
| Tax Savings | -$10,000 |
| FY16 Move savings | -$5,000 |
| Area budgets | -$45,920 |
| Votes budget | -$29,100 |
Accounts
The following is a list of account budget totals for the year. They are explained in detail in the linked sheets below.
| Account | Yearly |
|---|---|
| Savings Goals | -$19,100.00 |
| Advertising | -$1,144.00 |
| Bank Charges | -$7,304.16 |
| Disposal Fees | -$100.00 |
| Education | -$2,030.00 |
| Equipment | -$39,575.00 |
| Furniture | -$2,634.00 |
| Insurance | -$2,686.00 |
| Job Materials | -$3,260.00 |
| Meals & Entertainment | -$1,200.00 |
| Member Dues | $186,960.00 |
| Office Expenses | -$5,158.00 |
| Professional Services | -$5,000.00 |
| Regs., Licenses, and Fees | $0.00 |
| Rent | -$47,787.48 |
| Repair & Maintenance | -$6,082.00 |
| Safety Equipment | -$1,720.00 |
| Supplies | -$16,384.00 |
| Tools | -$3,813.00 |
| Utilities | -$22,464.00 |
There is an excess of $87.36 in the final budget.
Account Guide
| Account | Type | Description |
|---|---|---|
| Membership Projection | Income | Estimated revenue from member dues and costs from member points, area hosts, etc. |
| Membership Dues | Income | Estimated revenue from member dues. |
| Savings Goals | Transfer | 2 months' operating expenses, tax estimation, estimated moving expenses to be transferred to savings |
| Advertising | Expenses | Costs of advertising and promoting any event related to the area |
| Bank Charges | Expenses | Paypal and Chase fees |
| Disposal Fees | Expenses | Any costs associated with disposing of equipment or supplies |
| Education | Expenses | Costs of books/classes or other education materials for the area |
| Equipment | Fixed Assets | Large Long Lived Equipment |
| Furniture | Fixed Assets | Costs of furniture for the area |
| Insurance | Expenses | Insurance costs |
| Job Materials | Expenses | Costs of materials required to improve the area |
| Meals & Entertainment | Expenses | Party budgets |
| Office Expenses | Expenses | Checks |
| Professional Services | Expenses | Lawyer & accountant/bookkeeper |
| Rent | Expenses | Rent costs |
| Repair & Maintenance | Expenses | Costs for planned and unplanned repairs to tools in the area |
| Safety Equipment | Expenses | Cost of any safety equipment |
| Supplies | Expenses | Cost of consumables (drillbits/grinding wheels/ink/fillament) |
| Tools | Expenses | Small Tools that cost less than $75 |
| Utilities | Expenses | Gas, electric, Internet, trash, & cleaning costs |
Additional Notes
- Office of the CTO is not a new department. It was created for organizational purposes. It does not authorize the CTO to spend money at all; it only allows the board to spend that money, just like for the rest of the expenses in G&A.
- The language states that there is no real spending limit for repairing or replacing a piece of equipment in an area. This is to allow area hosts to maintain their areas as normal. If the area host or another member decides it would be best to replace a broken tool with a better tool, there would need to be a member vote to authorize it.
- Keep in mind that there are checks and balances on area host spending already. They are generally not able to spend more than $500 at a time without asking the board of directors. When a tool breaks, the membership is always informed about it, so if the membership wanted to upgrade, there would be plenty of opportunities to tell the area host this before they are able to buy a replacement tool.
- The sheets we used to plan this budget were transcribed to the following wiki pages:
- 2015 Budget Vote/FY2015 Master Budget
- 2015 Budget Vote/Minimal Operating Expenses Plan
- 2015 Budget Vote/General & Administrative Budget
- 2015 Budget Vote/G&A - CTO
- 2015 Budget Vote/General Area Budget
- 2015 Budget Vote/CNC Area Budget
- 2015 Budget Vote/Electronics Area Budget
- 2015 Budget Vote/Cold Metals Area Host
- 2015 Budget Vote/Hot Metals Area Host
- 2015 Budget Vote/Kitchen Area Budget
- 2015 Budget Vote/Tool Cage Area Budget
- 2015 Budget Vote/Arts and Crafts Area Budget
- 2015 Budget Vote/Woodshop Area Budget
Language
This vote is to authorize the budget for the 2015 Fiscal Year which lasts from January 1, 2015 to December 31, 2015. This vote authorization will expire on December 31, 2015.
The official, itemized budget we are voting on can be found in the following subpages:
In addition to this the following rules apply:
Previous Spending Authorization Expiration
- All previous spending authorizations are expired except for the following votes:
Reporting on Spending
- Pumping Station: One will adopt an expense reporting tool for area hosts and board members to use for reporting on spending.
Account Balances
- The savings account must have a balance consisting of:
- 5 months minimum operating expenses ($46,664.95). This is to be an emergency fund that should only be used in cases of emergency, at the discretion of the Board of Directors.
- Funds to cover an estimate of Pumping Station: One's tax deficit ($10,000).
- By the end of the Fiscal Year, it should also contain a contribution of $5,000 towards the cost of moving the organization in the future.
- Note: Funds required to reach these balances are covered as the savings goals line item in the master budget.
- Funding of savings goals/accounts should be amortized over the year. Spending in other categories can still occur before these goals are met. After the required balances are met, all money may be used for area host and vote spending.
Area Host Spending
- Area hosts are authorized to spend up to the budgeted amount listed in the master budget page. The spending of this amount should be prorated over the year to allow the organization to collect the required income to fund the spending.
- Area hosts are authorized to spend up to $750 for any single capital expenditure.
- Area hosts may spend any amount within their budget to replace or repair existing tooling or machinery. Replacements must be the exact same item. Any upgrade or different tooling or machinery that serves the same purpose would require a member vote to authorize spending.
- The categories in each individual area host budget are guidelines and area hosts are not required to spend their money exactly as allocated on the master budget page.
- Area hosts will be issued a expense card with an initial value of $500.
- Area hosts must complete an itemized expense report after spending any money on an expense card.
- Area hosts expense cards will only be replenished after the board has processed the expense reports.
- Area hosts must request additional funds be placed on their card to cover purchases over $500. Funds will not be added to cards with missing expense reports.
Board of Directors Spending
- The Board of Directors is authorized to spend from the General and Administrative and the Office of the CTO budgets. Budgets that are already authorized to the Board of Directors from the bylaws are guidelines, as the bylaws take precedence.
Reporting
- The treasurer must produce a monthly report showing spending/income against all budgets.
- The treasurer must produce a report showing spending/income against all budgets when requested by any member. Members that propose votes should request a report and include this with their vote proposal.