Income & Expense Trends Stacey M. DelVecchio June 2011 Updated August 2011.

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Presentation transcript:

Income & Expense Trends Stacey M. DelVecchio June 2011 Updated August 2011

Finance Committee Review No specific concerns about FY12 budget Concerned about multi-year trend of budgets with expenses higher than income Requested trend analysis Conference trends Operations trends What is the Board’s plan to reverse trend? Page 2

Conference Income Trends

Conference Expense Trends

FY12 Budget Specific Differences Expenses Web site overhaul: $175K Engineering for Change: $25K Board Travel: $30K higher than FY11 budget Additional Part-Time Staff: $40K Magazine reduction: -$130K Off set by grants/donations Installation Public Policy Event Outreach Professional Development Aspire web site Membership Consultant Income Magazine reduction: -$75K Conference overage: $408K higher than FY11 Total Income:$4,151K* Total Expense:$4,421K Net Loss:$271K *includes conference overage Page 5

Assumptions FY11 estimated numbers Assume income comes in at budget Expenses are projected at an even spend from the first 9 months of the fiscal year Membership levels The same as the FY11 budget Held at FY09 level Page 6

Non-Conference Income

Operations Income Trends Page 8 Overall income trending up. Conference Overage’ from FYxx-1 is included in Income

Operations Income Trends Page 9 Magazine income trending down due to reduction in print advertising. Program & Services income trending up due to increased grants. Conference Overage’ from FYxx-1 is included in Income

Non-Conference Expenses

Operations Expense Trends Page 11 Overall expenses trending up.

Operations Expense Trends Page 12 Staff expenses all moved to Administrative with move from Bostrom. ~50% of all operations expenses. Increase in Program & Services due to increases grants which enable more programming. Magazine expenses going down due to change in format & reduction in number of issues.

Administrative Expenses Merit increases for staff. $40K Additional part-time staff. Increase in insurance Page 13 FY11 Budget FY12 Budget Bank service fees & credit card charges trending up. Taxes covered by previous over- payment. Increase for IT Infrastructure (for new member database) that was moved from Facilities category. Increase for filtering. IT Infrastructure moved to Information Services category. Increase in Workers Comp & Business Insurance. Lower expenses with transition from Bostrom.

Income vs. Expense Page 14

General Operating Reserve (GOR) Page 15

Next Steps Page 16 Implement Strategic Financial Task Force recommendations to move to a more strategic budget Implement SWE Reserves Task Force recommendations