2016 Budget Vote
Sponsor
History
- 2019-01-12 - Vote announced on the mailing list
- 2016-01-19 - Language locked in (planned)
- 2016-01-26 - Member vote (planned)
Background
The purpose of this vote is (1) to authorize Area Host spending, (2) to authorize the Board to spend money on normal administrative expenses not already authorized by the bylaws, and (3) to ensure there is an emergency fund set aside for extenuating circumstances.
Expenditures such as rent and utilities (and a few other things) are already approved by the bylaws for the board to spend, so this vote does not cover those. They are included in the background information to inform the amounts we are actually voting on.
The money that area hosts spend in the month of January which was authorized by a temporary budget vote is included in this budget. It’s expected that this vote will replace that one.
Big Picture
| Category | Amount |
|---|---|
| Current Bank Balances (as of 2016-01-02) | $106,396.93 |
| Projected Income for 2016 | $193,200.00 |
| Administrative | -$131,849.99 |
| Unapproved Administrative Expenses | -$9,400.00 |
| Area Hosts | -$37,100.00 |
| Member Points | -$8,490.00 |
| Total Votes from 2015 | -$1,661.34 |
| Savings | -$73,500.00 |
| Discretionary funds available for future votes | $37,595.60 |
Administrative Expenses
This is a breakdown of the predicted administrative expenses that are already allowed by the bylaws and won’t be voted on in this vote. It is placed here for illustrative purposes only. The other section, titled Unapproved Administrative Expenses, is for things that are not already discussed in the bylaws and will be part of this vote language.
| Expense Name | Amount |
|---|---|
| Bank Charges | $600.00 |
| Insurance | $3,400.00 |
| PayPal Fees | $6,900.00 |
| Professional Services | $7,000.00 |
| Rent | $77,949.99 |
| Utilities | $36,000.00 |
Language
This vote is to authorize the budget for the 2016 Fiscal Year, which lasts from January 1, 2016 to December 31, 2016. This vote authorization will expire on December 31, 2016.
The following expenditures and allocations are approved by this budget for the year of 2016:
| Category | Amount |
|---|---|
| General Area | $5,000 |
| CNC Area | $3,000 |
| Kitchen Area | $1,500 |
| Electronics Area | $4,700 |
| Machine Shop Area | $5,600 |
| Hot Metals Area | $4,300 |
| Tool Cage Area | $3,000 |
| Arts, Crafts, & Textiles Area | $2,500 |
| Woodshop Area | $5,000 |
| CTO/Systems Maintenance | $2,500 |
| PR/Advertising | $500 |
| Meals & Entertainment (Parties) | $1,200 |
| Office Expenses | $100 |
| Cleaning/Janitorial | $2,600 |
| New Space Buildout | $5,000 |
| Member Points (currently outstanding and future awards) | $8,490 |
| Emergency Fund Savings | $73,500 |
Previous Spending Authorization Expiration
All previous spending authorizations are expired except for the following votes:
| Vote Name | Amount Remaining |
|---|---|
| Vote to Buy A New Router Table | $1661.34 |
Other Requirements
- The board of directors must set aside $13,261.20 for fines that may need to be paid to the IRS. If those fines end up being waived, the money will be returned to the general fund for member votes.
- The emergency fund savings are to be set aside in case of emergency. This vote leaves the determination of an emergency to the discretion of the board of directors and provides no guidelines for such determination.
- The New Space Buildout item is to be spent on building costs for moving into the new, expanded space. It will be left to the discretion of the board of directors to determine what costs are appropriate for that budget. The board may, at its option, appoint a committee to manage that budget, or assign it to an already existing committee.
Area Host Spending
Area hosts are authorized to spend up to the budgeted amount listed for their area. The spending of this amount should be prorated over the year to allow the organization to collect the required income to fund the spending.
Results
38 Members were present for the vote, so quorum is met.
- For: 34
- Against: 3
- Abstain: 1
The vote passes.