2015 Budget Vote

Sponsor

• Tom
• Justin
• Jenny

History

• 2014-11-05 - Sponsor Meeting 1
• 2014-12-04 - Sponsor Meeting 2
• 2014-12-11 - Sponsor Meeting 3

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 without the hassle of passing a vote
• 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	-$46,664.95
2 months full operating expenses	-$14,546
Tax Savings	-$10,000
FY16 Move savings	-$5,000
Area budgets	-$47,500
Votes budget	-$27,900

Accounts

The following is a list of accounts. They are explained in detail in the linked sheets below.

Account	Yearly
Equipment	$50,319
Furniture	$5,834
Insurance	$2,686
Job Materials	$3,460
Meals and Entertainment	$1,200
Office Expenses	$6,085
Professional Services	$2,700
Regs., Licenses, and Fees	$0
Rent	$47,787.48
Repair & Maintenance	$4,410
Safety Equipment	$1,840
Supplies	$16,414
Tools	$4,091
Utilities	$22,464

• Yearly Total: $

Planning sheets

The following are the sheets used to plan the budget. Please be advised that it is poorly formatted and not written for viewing as it was written for planning.

Link here

Language

• All previous spending authorizations are expired.
• Account balances:
  • The checking account must have a balance of 2 months full operating expenses ($14,546) at all times.
  • The savings account must have a balance consisting of:
    • 5 months minimum operating expenses ($46,664.95)
    • Funds to cover the spaces tax deficit ($10,000)
    • By the end of the FY it should also contain a contribution of $5,000 towards the cost of moving the space in FY16
• The Area host spending:
  • Area hosts are authorized to spend up to the budgeted amount listed in the table below. The spending of this amount should be prorated over the year to allow the space collect the required income to fund the spending.
  • Area hosts are authorized to spend up to $750 for a single item on tools, consumables, supplies and maintenance for their respective areas.
  • Area hosts may spend over $750 on a single item to replace or repair existing tooling or machinery.
  • 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.
• 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 there vote proposal.

Account Transfer

A breakdown of the "Account Transfer" account in G & A.

Item	Description	Annual
Op-ex Coverage	Operating expenses for x months	$8000
Taxes	Rough estimate of tax liability for previous & current year	$6,100
Moving	Allocation for future moving expenses	$5,000

Utilities and Rent

A breakdown of the "Rent" and "Utilities" accounts in G & A.

Item	Annual	Monthly
Monthly rent		$3,872.29
Rent adjustment for 2015		$110
Gas	$4,578
ComEd	$10,058
Comcast	$1,934
Trash	$3,216
Cleaning	$2,678