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RE: 2000 and 2001 budget




Excellent Job, Bob !!!  This is very well done.  Clear and to the point.  
Thanx,  Buzz
Everett O. (Buzz) Rigsbee
Boeing SSG
PO Box 3707, M/S: 7M-FM
Seattle, WA  98124-2207
ph: (425) 865-2443, fx: (425) 865-6721
email:  everett.o.rigsbee@boeing.com
> ----------
> From: 	Grow, Bob[SMTP:bob.grow@intel.com]
> Sent: 	Wednesday, October 20, 1999 12:27 PM
> To: 	'stds-802-sec@ieee.org'
> Subject: 	2000 and 2001 budget 
> <<File: 00 Budget.pdf>><<File: 01 budget.pdf>>
> 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). 
> 
>  <<00 Budget.pdf>>  <<01 budget.pdf>> 
>