2018 Budget Vote
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Sponsor
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 |
- 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
- For additional documentation and calculations please see the 2018 PS:One Fiscal Year Budget Google Docs.
- 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.