2020 Budget Vote
Sponsor
History
- 2019-31-12 - Vote announced on the mailing list
- 2020-01-30 - Language locked in.
- 2020-02-04 - 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 10 full months of operating expenses.
- Set aside funds for other emergency expenses such as health and safety, building maintenance/improvements/code compliance, 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 January 2020 membership and income calculations.
Budget Overview
| Account | Annual | Description |
|---|---|---|
| Current Bank Balance | $184,305.13 | |
| Projected Income | $263,880 | From member dues |
| Operational Budget | -$157,258.04 | |
| Administrative Expenses | -$37,047.00 | For membership approval |
| Area Budgets | -$77,391.00 | For membership approval |
| Outstanding Votes | -$24,932.39 | Votes not yet expired and voted on by the membership - not included in "Savings Requirement" calculation |
| Discretionary funds available for votes | $18,556.70 |
Operational Expenses + Savings
| Account | Monthly | Annual | Annual Total | Description |
|---|---|---|---|---|
| Bank Charges / Fees | -$75.00 | -$7,627.02 | -$8,527 | |
| Rent | $0.00 | -$97,398.02 | -$97,398.02 | |
| Utilities | $0.00 | -$32,950.00 | -$32,950.00 | |
| Insurance | $0.00 | -$6,559.00 | -$6,559.00 | |
| Professional Services | $0.00 | -$11,824.00 | -$11,824.00 | |
| Savings Requirement | $0.00 | -$133,000 | -$133,000 | 10mo of operational expenses. See 1. |
| Total | -$75.00 | -$289,358.04 | -$290,258.02 |
- 1. The savings requirement is an emergency fund that puts a minimum amount of funds aside to cover 10 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 2020 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 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 |
|---|---|---|
| 2020 2D CNC Area Budget | -$1,555.00 | Worksheet |
| 2020 3D CNC Area Budget | -$3,920.00 | Worksheet |
| 2020 Lasers CNC Area Budget | -$9,661 | Worksheet |
| 2020 Industrial CNC Area Budget | -$6,580.00 | Worksheet |
| 2020 Cold Metals Area Budget | -$5,100 | Worksheet |
| 2020 Electronics Area Budget | -$5,050 | Worksheet |
| 2020 General Area Budget | -$3,000 | Worksheet |
| 2020 General Operations Team Budget | -$11,485 | Worksheet |
| 2020 Graphic Arts and Textiles Budget | -$5,600 | Worksheet |
| 2020 Hot Metals Area Budget | -$7,750 | Worksheet |
| 2020 Kitchen Area Budget | -$3,640.00 | Worksheet |
| 2020 Small Metals Area Budget | -$4,800 | Worksheet |
| 2020 Woodshop Area Budget | -$9,250 | Worksheet |
Previous Spending Authorization Expiration
Language
This vote is to authorize the budget for the fiscal year of 2020, which goes into effect January 1, 2020 and expires December 31, 2020.
The following expenditures and allocations are approved by this budget:
Administrative
Administrative Expenses
Authorize the board to spend up to -$37,047.00 to cover administrative and emergency expenditures for the fiscal year of 2019.
| Account | Annual Total | Description |
|---|---|---|
| Technology Equipment / Supplies (CTO) | -$8,497.00 | CTO Budget |
| Advertising - Public Relations (PR) | -$2,100.00 | PR Budget |
| Meals & Entertainment - (Events) | -$3,600.00 | |
| Office Expenses | -$10,600.00 | Includes cleaning services |
| Member Points | -$12,250.00 | Includes carried member points, new volunteer positions, scholarship |
Savings Requirements
- The board of directors must set aside $8,500 for professional service.
- The board of directors must set aside $133,000.00 as a savings requirement that covers 10 months of operational costs, which includes an allocation of $20,000 towards costs incurred from health and safety within the facility and city occupancy and building code requirements. These funds are to be used in case of emergency or in instances where health and safety issues become evident, the determination of which is left at the discretion of the board of directors and shall be noted in the board meeting minutes.
2D CNC
Authorize the board to spend up to $1,555.00, minus funds used from the Temporary 2020 Area Host Budget, to cover 2D CNC Area expenditures for the fiscal year of 2020. The board assigns this spending authority to the area host. This spending authorization goes into effect 2020-01-01 and expires 2020-12-31.
3D CNC
Authorize the board to spend up to $3,920.00, minus funds used from the Temporary 2020 Area Host Budget, to cover 3D CNC Area expenditures for the fiscal year of 2020. The board assigns this spending authority to the area host. This spending authorization goes into effect 2020-01-01 and expires 2020-12-31.
Laser CNC
Authorize the board to spend up to $9,661.00, minus funds used from the Temporary 2020 Area Host Budget, to cover Laser CNC Area expenditures for the fiscal year of 2020. The board assigns this spending authority to the area host. This spending authorization goes into effect 2020-01-01 and expires 2020-12-31.
Industrial CNC
Authorize the board to spend up to $6,580.00, minus funds used from the Temporary 2020 Area Host Budget, to cover Industrial CNC Area expenditures for the fiscal year of 2020. The board assigns this spending authority to the area host. This spending authorization goes into effect 2020-01-01 and expires 2020-12-31.
Cold Metals
Authorize the board to spend up to $5,100.00, minus funds used from the Temporary 2020 Area Host Budget, to cover Cold Metals Area expenditures for the fiscal year of 2020. The board assigns this spending authority to the area host. This spending authorization goes into effect 2020-01-01 and expires 2020-12-31.
Electronics
Authorize the board to spend up to $5,050, minus funds used from the Temporary 2020 Area Host Budget, to cover Electronics Area expenditures for the fiscal year of 2020. The board assigns this spending authority to the area host. This spending authorization goes into effect 2020-01-01 and expires 2020-12-31.
General
Authorize the board to spend up to $3,000, minus funds used from the Temporary 2020 Area Host Budget, to cover General expenditures for the fiscal year of 2020. The board assigns this spending authority to the area host. This spending authorization goes into effect 2020-01-01 and expires 2020-12-31.
General Operations
Authorize the board to spend up to $11,485.00, minus funds used from the Temporary 2020 Area Host Budget, to cover General Operations expenditures for the fiscal year of 2020. The board assigns this spending authority to the area host. This spending authorization goes into effect 2020-01-01 and expires 2020-12-31.
Graphic Arts and Textiles
Authorize the board to spend up to $5,600.00, minus funds used from the Temporary 2020 Area Host Budget, to cover Graphic Arts and Textiles Area expenditures for the fiscal year of 2020. The board assigns this spending authority to the area host. This spending authorization goes into effect 2020-01-01 and expires 2020-12-31.
Hot Metals
Authorize the board to spend up to $7,750.00, minus funds used from the Temporary 2020 Area Host Budget, to cover Hot Metals Area expenditures for the fiscal year of 2020. The board assigns this spending authority to the area host. This spending authorization goes into effect 2020-01-01 and expires 2020-12-31.
Kitchen
Authorize the board to spend up to $3,640.00, minus funds used from the Temporary 2020 Area Host Budget, to cover Kitchen expenditures for the fiscal year of 2020. The board assigns this spending authority to the area host. This spending authorization goes into effect 2020-01-01 and expires 2020-12-31.
Small Metals
Authorize the board to spend up to $4,800.00, minus funds used from the Temporary 2020 Area Host Budget, to cover Small Metals Area expenditures for the fiscal year of 2020. The board assigns this spending authority to the area host. This spending authorization goes into effect 2020-01-01 and expires 2020-12-31.
Woodshop
Authorize the board to spend up to $9,250.00, minus funds used from the Temporary 2020 Area Host Budget, to cover Woodshop expenditures for the fiscal year of 2020. The board assigns this spending authority to the area host. This spending authorization goes into effect 2020-01-01 and expires 2020-12-31.
Results
- Time of Vote - February 4th, 8:05
- Closed early by vote of present members 7:0:2
- Quorum: 57
- For: 75
- Against: 4
- Abstain: 9