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FOTB Annual Meeting: Financial Review & Future Plans

Dive into the detailed financial review of FY2005, explore fundraising successes, and discuss future plans for FOTB. Join us for an insightful meeting with engaging discussions.

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FOTB Annual Meeting: Financial Review & Future Plans

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Presentation Transcript

  1. Welcome! • Please dial 609-258-2610 to connect conference bridge at 9:00 am • Meeting materials available online: http://www.princeton.edu/~fotb/explore/boardbiz.shtml • Meeting will begin at 9:15 am • Please enjoy some breakfast

  2. Jonathan D. Mendelson ’97 FOTB Board President FOTB Annual Meeting

  3. Agenda • Call to order • Year in Review • Recap of Activities • Financial outlook • Other business • Endowment • Adjourn

  4. Call to Order • Select meeting secretary • Establish quorum • Elect president • Review minutes from last year

  5. Year in Review • FY05 unique due to San Diego trip • Inflow/Outflows ~$20K higher than normally occurs • Armory space relocation effort begun • Continued strong leadership from undergraduate officers

  6. FOTB Meets Fundraising Goals • San Diego trip a financial success • Early fall mailing for SD trip pays off • Anonymous donor makes trip possible • FOTB members rise to the challenge • Moderate capital expenditures can still occur • Most costs remain in line with expectations

  7. Two mailings before end of tax year Two mailings before end of tax year Mailing Schedule • Typical mailing schedule • September: Appeal 1 • December: Appeal 2 • May: Reunions Announcement • FY2005 Adjustment • August: Appeal 1 • December: Appeal 2 • May: Reunions Announcement

  8. Operating Fund Results • 2x the previous year • Without one-time donors • Total ~$20,000  almost $5K increase • Does not include Endowment

  9. FY2005 Financial Review • Books do not close until 6/30/05 • Additional review required • Auto expenses increase substantially • Office expenses exceeded expectations • Distortions • Reunions and end-of-year expenses not yet recorded • VISA card makes expense tracking difficult

  10. Financial Analysis: Inflows • Endowment income over $5,200 • $3500 in special funds from University for SD Trip

  11. Financial Analysis: Outflows • Reunions costs will post in late June • Some capex probably deferred to FY06

  12. Financial Analysis: Summary • FY2005 net flow depends upon end-of-year items • FY05 appears to be a cash-flow positive year • Will continue to pay down debt to Dean of Students

  13. 541-1890 (Band) ($11,361.83) Improvement over previous years (debt over $25K) Reunions 2005 income should offset end-of-year expenses 645-2036 (FOTB) $22,034.66 Improved fundraising allows for flexibility Strong cash position may enable FOTB to retire remaining PUB debt Financial Analysis: Balances

  14. End-of-year Expenses • Reunions meals for undergraduates • FOTB Board Meeting • Reunion tent and refreshments • May Princeton Upbeat mailing • Unclaimed student expenses

  15. FOTB Issues for FY2006 • Monitor space reassignment issues • Must update FOTB mailing list • No progress since last meeting • Len Ritz currently owns this item • Feasibility of annual meetings • Modification of Bylaws • Succession planning • FOTB’s future role • Ensuring widespread participation • Closing on outstanding tasks

  16. Undergraduate Update

  17. PUB Endowment Update Book Value on 5/25/05 $112,309.56 • Exceptional Progress • Began with $15,000 transfer in 1999 • Met $50,000 requirement 2 years early • FY05 Details • $6,797.01 in contributions • Earned over $5,200 towards budget PUB greatly benefits from this resource!

  18. Adjourn • Final comments/questions • Set meeting date/time for next year • Today’s Band/FOTB Activities • 11:00 a.m. Fred Fox ’39 Memorial Concert (Cannon Green) • Post P-Rade Band Reunion (South of Eno Hall)

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