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>>
>