Re: 2000 and 2001 budget

[Paul Nikolich <p.nikolich@ieee.org>]

Bob,

Nice job.  However your attendance projections and the ones I have been
keeping based on estimates from the WG chairs are slightly low.  

My estimate for FY '00 averages to approximately 455 attendees per meeting
(versus your estimate of ~412), and for FY '01 around 390 attendees per
meeting (versus your estimate of 375).  See attached data--you may want to
ammend your budget projections.

If any WG chairs see a significant discrepency in the estimates I have
recorded, please notify Bob, Buzz and I with the corrected estimates.

Thanks,

--Paul Nikolich

At 12:27 PM 10/20/99 -0700, Grow, Bob wrote:
>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>> 
>
>Attachment Converted: "c:\My Documents\Documents\Email_temp_storage\00
Budget.pdf"
>
>Attachment Converted: "c:\My Documents\Documents\Email_temp_storage\01
budget.pdf"
>

rev11_99 attendance projections.PDF