2000 and 2001 budget
Attached for your preview, please find below a proposed LMSC budget for the
next two years, which I am required to submit to the Computer Society (I
have promised it following the November meeting). (Thanks to Buzz for his
contribution to the detailed CY 2000 budget.) I propose to submit the
following:
CY 2000
ESTIMATED INCOME
Meeting Fees 320,625
Other Income 600
Total 321,225
ESTIMATED EXPENSES
Meeting costs 209,450
Document Distribution 1,500
IPF to ANSI/IEEE 110,200
Other Expenses 75
Total 321,225
ESTIMATED TOTAL 0
CY 2001
ESTIMATED INCOME
Meeting Fees 320,625
Other Income 450
Total 321,075
ESTIMATED EXPENSES
Meeting costs 218,185
Document Distribution 1,700
IPF to ANSI/IEEE 101,800
Other Expenses 90
Total 321,075
ESTIMATED TOTAL 0
The above proposed submission is based on the attached detailed budget. You
will note differences. The detailed budget is used to manage the operating
reserve and assure solvency. Notes to the budgets follow:
1. The above budgets are based on the income projections found in the
detailed budgets. In operation, expenses are managed to income, and to a
large extent proportional to income (i.e., both based on meeting
attendance).
2. The CY 2000 budget assumes current meeting fees. The CY 2001 budget
assumes a meeting fee increase of $25. The CY 2000 starting operating
reserve includes a projected 10.2k operating loss from our November 1999
meeting.
3. The detailed budgets are not in conformance with LMSC Operating Rules,
Procedure 2, item 6. This rule would require maintenance of an operating
reserve of approximately $80,000. This deviation from the rules is
recommended because of our relationship with our sponsor. The Computer
Society has adopted a policy (from which they will exempt us) of
confiscating any bank balance over $10,000. To maintain our independence,
it is felt best to keep the operating reserve below $40,000.
4. The detailed projection of operating reserve is sufficient to cover a
planned shutdown of LMSC operations, but the projected reserve is
insufficient for worst case meeting cancellation expenses (a financial
exposure to our sponsor).
5. The CY 2000 budget forecasts a larger than desired operating loss.
November meeting expenses are expected to be lower than budget, but Tampa is
a new meeting site so budget is intentionally high. The CY 2000 operating
loss is equal to the largely discretionary meeting equipment budget. Income
could also be improved by increasing fees earlier than CY 2001.
6. The detailed budgets include IPF payments per current practice (~31% of
expenses). The anticipated change in ISO liaison status, as well as
different internationalization tracks for some of our Working Groups justify
a reallocation of this expense to other uses. This significantly changes
the budget.
7. The detailed budgets do not include some proposed expense items. Though
equipment is budgeted, the costs for suggested meeting networking are
unknown and consequently may not be possible within the budget. The request
for addition of cookies to the afternoon refreshments has not been budgeted
(it would raise refreshments approximately $12.50 per attendee, requiring a
fee increase).
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00 Budget.pdf
01 budget.pdf