Difference between revisions of "2018 Budget Vote"

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* 2017-12-21 - Vote announced on the mailing list
 
* 2017-12-21 - Vote announced on the mailing list
−
* 2018-01-04 - Language locked in.
+
* 2018-01-25 - Language locked in.
−
* 201-01-08 - Vote of the membership on this budget.
+
* 2018-01-30 - Vote of the membership on this budget.
  
 
== Background ==
 
== Background ==
Line 17: Line 17:
 
This budget is designed with the following goals:
 
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 there is savings set aside for 6 full months of operating expenses.
−
* Make sure that there are enough funds available to cover tax bill.
+
* Set aside funds for other emergency expenses such as safety, building maintenance/improvements/code complaince, and city occupancy.
−
* Make sure that there is an emergency cash pile available for other emergency expenses other than operating, such as safety, compliance, building maintenance/improvements.
+
* Authorize the Board to spend money on normal administrative expenses not already authorized by the bylaws.
−
* Provide area hosts with more spending power to provide better service to the membership.
+
* Predict expenditures based on a conservative membership model that shows 0% growth based on December 2017 membership and income calculations.
  
−
=== Big Picture ===
+
=== Budget Overview ===
  
 
{| class="wikitable"
 
{| class="wikitable"
−
! Account
+
! Account !! Annual !!    Description
−
! Amount
 
 
|-
 
|-
−
| Current bank balance (as of 2017-12-something)
+
| Current Bank Balance || $161,204.41 ||
−
| $63,000
 
 
|-
 
|-
−
| Projected income for 2018
+
| Projected Income || $255,720.00 ||
−
| $186,960
 
 
|-
 
|-
−
| Administrative Expenses
+
| Operational Budget || -$234,052.55 ||
−
| -$92,381.96
 
 
|-
 
|-
−
| 5 months minimum operating expenses
+
| Administrative Expenses || -$36,983.40 ||    For membership approval
−
| -$46,178.70
 
 
|-
 
|-
−
| Area budgets
+
| Area Budgets || -$63,640.00 ||    For membership approval
−
| -$47,131
 
 
|-
 
|-
−
| Votes budget
+
| Outstanding Votes || -$35,615.00 ||   Votes not yet expired and voted on by the membership - not included in "Savings Requirement" calculation
−
| -$35,900
 
−
|-
 
−
| Member Points
 
−
| -$8,000
 
−
|-
 
−
| Outstanding Votes Budget 2017
 
−
| -$0
 
 
|-
 
|-
 +
| Discretionary funds available for votes || $46,633.47 ||
 
|}
 
|}
  
−
=== Accounts ===
+
===Operational Expenses===
−
 
 
−
The following is a list of account budget totals for the year. They are explained in detail in the linked sheets below.
 
−
 
 
 
{| class="wikitable"
 
{| class="wikitable"
−
!Account
+
! Account !! Monthly !! Annual !! Annual Total !!    Description
−
!Yearly
 
−
|-
 
−
| Savings Goals
 
−
| -$10,600
 
−
|-
 
−
| Advertising
 
−
| -$1,144.00
 
−
|-
 
−
| Bank Charges
 
−
| -$7,304.16
 
−
|-
 
−
| Disposal Fees
 
−
| -$100.00
 
−
|-
 
−
| Education
 
−
| -$2,030.00
 
−
|-
 
−
| Equipment
 
−
| -$46,875.00
 
−
|-
 
−
| 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
 
−
| -$5,667.40
 
−
|-
 
−
| Professional Services
 
−
| -$5,000.00
 
−
|-
 
−
| Regs., Licenses, and Fees
 
−
| $0.00
 
 
|-
 
|-
−
| Rent
+
| Bank Charges / Fees || -$75.00 || -$5,489.04 || -$6,389.04 ||
−
| -$47,787.48
 
 
|-
 
|-
−
| Repair & Maintenance
+
| Rent || $0.00 || -$91,806.99 || -$91,806.99 ||
−
| -$5,782.00
 
 
|-
 
|-
−
| Safety Equipment
+
| Utilities || $0.00 || -$29,000.00 || -$29,000.00 ||
−
| -$1,920.00
 
 
|-
 
|-
−
| Supplies
+
| Insurance || $0.00 || -$5,499.00 || -$7,379.25 ||
−
| -$16,415.00
 
 
|-
 
|-
−
| Tools
+
| Professional Services || $0.00 || -$28,500.00 || -$28,500.00 ||    Includes compliance budget
−
| -$3,993.00
 
 
|-
 
|-
−
| Utilities
+
| Savings Requirement || $0.00 || -$71,000.00 || -$71,000.00 ||    6mo of operational expenses - see 1.
−
| -$22,464.00
 
 
|-
 
|-
 +
| Total || -$75.00 || -$231,295.03 || -$234,075.28 ||
 
|}
 
|}
  
−
There is an excess of $97.96 in the final budget.
+
# The savings requirement is an emergency fund that puts a minimum amount of funds aside to cover 6 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 ===
 
=== Additional Notes ===
  
−
* The CTO and PR budgets are funds that are allocated to those positions such that a board vote is not required for those positions to spend money allocated towards the improvement of general technology infrastructure or general public relations or outreach that directly benefits the organization.
+
*For additional documentation and calculations please see the [https://docs.google.com/spreadsheets/d/1I2GRE9gYxwGEy-g8w2qxvMeYgGRHQWeNjk4u3Tbxjy0/[email protected]&ts=5a5b80ce&actionButton=1#gid=1226207666 2018 PS:One Fiscal Year Budget] Google Docs.
  
−
* 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 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.
+
* 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 sheets we used to plan this budget were transcribed to the following wiki pages:
+
* The treasurer must produce a report at once for each month, by the end of the following month, showing spending/income against all budgets.
−
** [[2018 Budget Vote/FY2015 Master Budget]]
 
−
** [[2018 Budget Vote/Minimal Operating Expenses Plan]]
 
−
** [[2018 Budget Vote/General & Administrative Budget]]
 
−
** [[2018 Budget Vote/G&A - CTO]]
 
−
** [[2018 Budget Vote/General Area Budget]]
 
−
** [[2018 Budget Vote/CNC Area Budget]]
 
−
** [[2018 Budget Vote/Electronics Area Budget]]
 
−
** [[2018 Budget Vote/Cold Metals Area Host]]
 
−
** [[2018 Budget Vote/Hot Metals Area Host]]
 
−
** [[2018 Budget Vote/Kitchen Area Budget]]
 
−
** [[2018 Budget Vote/Tool Cage Area Budget]]
 
−
** [[2018 Budget Vote/Arts and Crafts Area Budget]]
 
−
** [[2018 Budget Vote/Woodshop Area Budget]]
 
  
−
== Language ==
+
* Funding of savings goals/accounts should be amortized over the year. Spending in other categories can still occur before these goals are met.
  
−
This vote is to authorize the budget for the 2018 Fiscal Year which lasts from January 1, 2018 to December 31, 2018. This vote authorization will expire on December 31, 2018.
+
=== Area Host Budgets ===
  
−
The official, itemized budget we are voting on can be found in the following subpages:
+
{| class="wikitable"
−
 
+
! Area !! Annual Cost !! Link
−
* [[2018 Budget Vote/FY2018 Master Budget]]
+
|-
−
* [[2018 Budget Vote/Minimal Operating Expenses Plan]]
+
| [[2018 CNC Area Budget Vote]] || -$9,860.00 || [https://docs.google.com/spreadsheets/d/1yWof5aWPDtfZO8A6JQOX1BxsdFTq8k8sRXpkyOzn1u0/edit#gid=1955275037 Worksheet]
−
 
+
|-
−
In addition to this the following rules apply:
+
| [[2018 Cold Metals Area Host Vote]] || -$8,700.00 || [https://docs.google.com/spreadsheets/d/1O9NjPOLSP1CaGg9oE_B39J6joDPVK-H6MisDj4vhNxw/edit#gid=1955275037 Worksheet]
 +
|-
 +
| [[2018 Electronics Area Budget Vote]] || -$4,650.00 || [https://docs.google.com/spreadsheets/d/1lTHpBJOUEHx9IGjv8RgT9E7UPL9gwIj2fnTWGEHg90w/edit#gid=1955275037 Worksheet]
 +
|-
 +
| [[2018 General Area Budget Vote]] || -$5,500.00 || [https://docs.google.com/spreadsheets/d/1P7GtWag60DPnmGDi6JGNXA35YqnZ81NrofCsKYQMP48/edit#gid=1955275037 Worksheet]
 +
|-
 +
| [[2018 Graphic Arts and Textiles Budget Vote]] || -$5,180.00 || [https://docs.google.com/spreadsheets/d/10qem4PMyGilOLzrzlPxDWm7lyu3uFVrRhnH5EXMnnq8/edit#gid=1955275037 Worksheet]
 +
|-
 +
| [[2018 Hot Metals Area Budget Vote]] || -$8,000.00 || [https://docs.google.com/spreadsheets/d/1fr6iJ7c2VHgllNWRsWeXLowQNIKDw7pQ_5xsORa9TC0/edit#gid=1955275037 Worksheet]
 +
|-
 +
| [[2018 Kitchen Area Budget Vote]] || -$3,500.00 || [https://docs.google.com/spreadsheets/d/1FkIASoaorMapQNdBab_Ol2oeQLQBjI6NZXbqEBmmYB8/edit#gid=1955275037 Worksheet]
 +
|-
 +
| [[2018 Small Metals Area Budget Vote]] || -$8,000.00 || [https://docs.google.com/spreadsheets/d/1dOP1PBR_CX3Y95pD7aSAEqUtl_P2YpVD5YQR1M2JfVE/edit#gid=1955275037 Worksheet]
 +
|-
 +
| [[2018 Woodshop Area Budget Vote]] || -$10,250.00 || [https://docs.google.com/spreadsheets/d/1oULHOhN_uHYIBRHo8T7GGXB3-42ET86P6BYIUNVRH6s/edit#gid=1955275037 Worksheet]
 +
|}
  
 
=== Previous Spending Authorization Expiration ===
 
=== Previous Spending Authorization Expiration ===
 +
All previous spending authorizations are expired as of midnight 12/31/2017 except for the following votes:
  
−
* All previous spending authorizations expire 12/31/2017 except for the following votes:
+
{| class="wikitable"
 +
! Vote Name !! Amount Remaining !! Description
 +
|-
 +
| [[CNC Mill Vote 2017]] || $35,615.00 ||    Expires 6/9/18
 +
|}
  
−
=== Reporting on Spending ===
+
== Language ==
−
* Area host spending is to be reported for every month by the first of the following month.
 
−
* An accountant may be hired to assist the Treasurer in their duties.
 
−
 
 
−
=== 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.
 
−
** 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 will be issued a expense card with an initial value of $500.
+
This vote is to authorize the budget for the fiscal year of 2018, which goes into effect January 1, 2018 and expires December 31, 2018.
−
* 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 may authorize individual members to spend money against area budgets for the purpose of better serving those areas, at the discretion of the board.
 
−
* Area hosts are authorized to spend beyond the $500 PEX card limit, if the expenditure is noted in the respective area budget.
 
−
* Area hosts may spend any amount within their budget to replace or repair existing tooling or machinery.
 
−
* 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 must complete an itemized expense report after spending any money on an expense card.
 
−
** Area hosts must request additional funds be placed on their card to cover purchases over $500.
 
−
** All expenses for a month are to be submitted to the treasurer by the first day of the following month. Replenishment or additional funds may be withheld without properly reported expense reports.
 
  
−
=== Board of Directors Spending ===
+
The following expenditures and allocations are approved by this budget:
−
* The Board of Directors is authorized to spend from the General and Administrative budgets. The CTO is authorized to spend from the CTO budget. The PR director is authorized to spend from the PR budget. Budgets that are already authorized to the Board of Directors from [[Bylaws#Board Budget|the bylaws]] are guidelines, as the bylaws take precedence.
 
  
−
=== Reporting ===
+
===Administrative Expenses===
−
* The treasurer must produce a report at minimum for each month, showing spending/income against all budgets. The reports should be released in a reasonable amount of time after the end of each month.
+
Authorize the board to spend up to $36,983.40 to cover administrative and emergency expenditures for the fiscal year of 2018.  
−
* The treasurer must produce a report showing spending/income against all budgets when requested by any member.
 
−
 
 
−
= Account Guide =
 
  
 
{| class="wikitable"
 
{| class="wikitable"
−
!Account
+
! Account !! Annual Total !!    Description
−
!Type
+
|-
−
!Description
+
| Technology Equipment / Supplies (CTO) || -$10,563.40 || [https://docs.google.com/spreadsheets/d/1GQvOgcWKHCh47w-PlccHTtlJE7pg4YTpEJBfqKqDcPM/edit#gid=1955275037 CTO Budget]
−
|----
+
|-
−
|Membership Projection
+
| Advertizing - Public Relations (PR) || -$2,600.00 ||   [https://docs.google.com/spreadsheets/d/1frb2XTj_RJZxjOvfi0hhreHN8FlaH83ldbiON3hYds0/edit#gid=1955275037 PR Budget]
−
|Income
+
|-
−
|Estimated revenue from member dues and costs from member points, area hosts, etc.
+
| Meals & Entertainment - (Events) || -$2,900.00 ||
−
|----
+
|-
−
|Membership Dues
+
| Office Expenses || -$10,600.00 ||   Includes cleaning services
−
|Income
+
|-
−
|Estimated revenue from member dues.
+
| Member Points || -$10,320.00 ||  
−
|----
 
−
|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
 
 
|}
 
|}
 +
 +
=== Savings Requirements ===
 +
* The board of directors must set aside $28,500 for professional services, which includes an allocation of $20,000 towards costs incurred from city occupancy and building code requirements.
 +
* The board of directors must set aside $71,000 as a savings requirement that covers 6 months of operational costs, to be used in case of emergency. The determination of an emergency is left at the discretion of the board of directors.
  
 
[[Category:Votes]]
 
[[Category:Votes]]
 
[[Category:2018 Votes]]
 
[[Category:2018 Votes]]

Latest revision as of 17:53, 25 January 2018

History

  • 2017-12-21 - Vote announced on the mailing list
  • 2018-01-25 - Language locked in.
  • 2018-01-30 - 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 6 full months of operating expenses.
  • Set aside funds for other emergency expenses such as 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 December 2017 membership and income calculations.

Budget Overview

Account Annual Description
Current Bank Balance $161,204.41
Projected Income $255,720.00
Operational Budget -$234,052.55
Administrative Expenses -$36,983.40 For membership approval
Area Budgets -$63,640.00 For membership approval
Outstanding Votes -$35,615.00 Votes not yet expired and voted on by the membership - not included in "Savings Requirement" calculation
Discretionary funds available for votes $46,633.47

Operational Expenses

Account Monthly Annual Annual Total Description
Bank Charges / Fees -$75.00 -$5,489.04 -$6,389.04
Rent $0.00 -$91,806.99 -$91,806.99
Utilities $0.00 -$29,000.00 -$29,000.00
Insurance $0.00 -$5,499.00 -$7,379.25
Professional Services $0.00 -$28,500.00 -$28,500.00 Includes compliance budget
Savings Requirement $0.00 -$71,000.00 -$71,000.00 6mo of operational expenses - see 1.
Total -$75.00 -$231,295.03 -$234,075.28
  1. The savings requirement is an emergency fund that puts a minimum amount of funds aside to cover 6 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 at once 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
2018 CNC Area Budget Vote -$9,860.00 Worksheet
2018 Cold Metals Area Host Vote -$8,700.00 Worksheet
2018 Electronics Area Budget Vote -$4,650.00 Worksheet
2018 General Area Budget Vote -$5,500.00 Worksheet
2018 Graphic Arts and Textiles Budget Vote -$5,180.00 Worksheet
2018 Hot Metals Area Budget Vote -$8,000.00 Worksheet
2018 Kitchen Area Budget Vote -$3,500.00 Worksheet
2018 Small Metals Area Budget Vote -$8,000.00 Worksheet
2018 Woodshop Area Budget Vote -$10,250.00 Worksheet

Previous Spending Authorization Expiration

All previous spending authorizations are expired as of midnight 12/31/2017 except for the following votes:

Vote Name Amount Remaining Description
CNC Mill Vote 2017 $35,615.00 Expires 6/9/18

Language

This vote is to authorize the budget for the fiscal year of 2018, which goes into effect January 1, 2018 and expires December 31, 2018.

The following expenditures and allocations are approved by this budget:

Administrative Expenses

Authorize the board to spend up to $36,983.40 to cover administrative and emergency expenditures for the fiscal year of 2018.

Account Annual Total Description
Technology Equipment / Supplies (CTO) -$10,563.40 CTO Budget
Advertizing - Public Relations (PR) -$2,600.00 PR Budget
Meals & Entertainment - (Events) -$2,900.00
Office Expenses -$10,600.00 Includes cleaning services
Member Points -$10,320.00

Savings Requirements

  • The board of directors must set aside $28,500 for professional services, which includes an allocation of $20,000 towards costs incurred from city occupancy and building code requirements.
  • The board of directors must set aside $71,000 as a savings requirement that covers 6 months of operational costs, to be used in case of emergency. The determination of an emergency is left at the discretion of the board of directors.
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