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2011 Budget

2011 Budget. Saskatoon Chapter Michelle Nelson. Chapter Budget Sustainability Goal. Invest in member benefits, using money already earned in previous years Set up a formula for future years Provide board with a starting point

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2011 Budget

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  1. 2011 Budget Saskatoon Chapter Michelle Nelson

  2. Chapter Budget Sustainability Goal • Invest in member benefits, using money already earned in previous years • Set up a formula for future years • Provide board with a starting point • As a chapter, plan profit of $2,000 per year (7%) AND reinvest in members at least $3,000 per year – without going into our reserves.

  3. Chapter Budget Sustainability Goal • The board can choose to spend the $2,000 “profit” on a one-time expense, or saved up for several years for a big-ticket item. • Remember that we are a non-profit; while it’s good to have a rainy day fund, there’s nothing wrong with break-even spending. • 2009 profit $6,587 (but included hosting DTL) • 2010 profit would be $5,211 (we’d reserved $3,065) • We have $21,836 in our bank accounts right now – that’s a LOT for IABC standards

  4. General Outline • Executive portfolio ends with zero balance • PD brings $5,400 net profit • Membership brings $3,080 net profit • Sponsorship brings $2,500 • Sub-total = $10,980 • Communications spends $3,000 • Operations/Finance/Treasurer spends $5,000 • Volunteer spends $980 • Profit = $2,000 (or spend – board decision) • As a chapter, plan profit of $2,000 per year (10%) AND reinvest in members at least $3,000 per year – without going into our reserves. • The board can choose to spend the $2,000 “profit” on a one-time expense, or saved up for several years for a big-ticket item. Remember that we are a non-profit; while it’s good to have a rainy day fund, there’s nothing wrong with break-even spending.

  5. Executive Revenue and Expenses • $7,150 from previous years (based on Jodie’s formula), call that the “Executive Revenue” • Add money obtained from International IABC Grants (for Leadership Institute and Dare to Lead) • Allocate all of that towards member benefits • At the end of 2011, the Executive Budget will be $0 • Start 2012 by taking 90% of the REVENUE earned by the portfolios in 2011, adding the grant money, and that’s what the Executive will spend in 2012 on member benefits

  6. What that looks like (maybe)

  7. Portfolios Professional Development • 2009: $21,543 - $15,690 = profit $5,853 (27%) • 2010: $13,771 - $8,745 = profit $5,026 (36%) • 2011: $18,000 - $12,600 = profit $5,400 (30%) • Luncheons in February, May, and October • Workshops in April and November • Decide on profit margins, rates, events

  8. Portfolios Membership • 2009: $2,430 from dues; $1,652 from 2 events; total $4,082 revenue - $1,457 expense = $2,625 (64%) • 2010: $5,325 from dues; $1,659 from 3 events; total $6,984 revenue - $3,433 expense = $3,551 (51%) • 2011: $5,880 dues (147x$40); $1,600 4 events; total $7,480 revenue - $4,400 expense = $3,080 (41%) • Events in March, June, September, and December, • Decide on profit margins, rates, events

  9. Portfolios Sponsorship • 2009: $450 • 2010: $1,250 • 2011: $2,500 • Cash donations; Gifts-in-kind need to replace a budgeted expense of a portfolio (additions are great, but budget goals haven’t been built that way); $2 gift-in-kind = $1 cash • Event sponsors, silent auction, ads, job bank • Sponsorship structure, contacts, event needs • Expense budget of $10,000 for those portfolios • Leaves $8,000 • $5,000 for Volunteer, Operations, Communications Expense • $3,000 for Member Benefits for next year • $2,000 (10%) Profit, used for a one-time purchase, to build up reserves, be spent on additional member benefits next year , or saved up towards a big purchase (depending on whether the chapter is in a good cash position

  10. Portfolios Communications • 2009: $2,054 • 2010: $2,080 • 2011: $3,000 • C-vent, printing • Decide on tactics, responsibilities, cycles/schedule

  11. Portfolios Operations and Treasurer/Finance • 2009: $332 • 2010: $605 • 2011: $5,000 • Binders, postage, filing charges, board planning, bank charges, paid finance help • Decide on responsibilities

  12. Portfolios Volunteer • 2009: $104 • 2010: $162 • 2011: $980 • Recruiting, Volunteer Recognition • Decide who needs help, tactics, support materials • Shift some budget items from Executive to Volunteer

  13. Next Steps • Outline your tactics and schedule • Use the starting budget as guideline for revenues (if applicable) and expenses • Suggest changes if needed • We need the overall plan for 2011, including budget • The event plans and details of how tactics will be implemented can come a bit later

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