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Budget for FY2011 (Adopted v. Actual)
A detailed month-by-month cash forecast was presented to the Board on May 3, 2010.
The budget adopted is shown below (where detail is broken out it is to assist individuals/committees in understanding what they might spend).
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| Budget
| Actual
| | Operations
| (29,615)
| (28,954)
| | Net cost of running the Community Center including maintenance, office supplies, cleaning, as well as all utility costs (indexed by the average increase in cost last year).
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| | Maintenance
| 2,045
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| | Secretariat
| 6,500
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| | Rentals
| 10,249
| 12,620
| | Net proceeds from Community Center rentals, including Iditarod, receipts from Iditarod kitchen.
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| | Fund Raising
| 17,201
| 20,348
| Net proceeds from Oktoberfest, Carnival, Bazaar.
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| | Donations
| (3,640)
| (2,494)
| | Donations from WACO to support various community events, local organizations and scholarships.
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| | Clean up day
| (81)
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| | July 4th
| (1,997)
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| | Lions Ad
| (500)
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| | Holiday Dinner
| (412)
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| | Scholarships
| (650)
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| | Increase (decrease) for year
| (5,805)
| 1,520
| | Forecast increase/decrease to assets for the year. This figure indicates an unbalanced budget.
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May 3, 2010
| Average Daily |
| Operational Cost | Actual | Budget |
| FY 2007 | 123.07 | |
| FY 2008 | 93.87 | |
| FY 2009 | 75.20 | 71.57 |
| FY 2010 | 73.35 | 77.67 |
| FY 2010 | 79.33 | 81.14 |
Notes
- This is a not a balanced budget.
- We continue to run without a caretaker, with volunteers taking up the slack; this year we have outsourced Community Center rental and scheduling. Without that additional cost the Average Daily Cost would actually be $67.99.
- Forecast figures are largely based on actual figures for FY2010; I will continue to show last years period-to-date figures on monthly reports because—
- if we spend/accumulate funds at or below last years rate we will end the year with a net increase to the bank (or, perhaps, no decrease);
- it is relatively easy to do (rather than try to accumulate budget amounts for each line item for each month and account for seasonality).
- Gaming (specifically, pull tab) income is not shown. I will also continue to graph net cash flow based on actual amounts, but to forecast without pull-tab monies. This is a safe, conservative approach.
- Should we continue to receive income from pull-tabs we will end the year with a healthy bank balance. A procedure has been developed to help prioritize any spending of “surplus”.
- A budget is a planning tool. Just because an amount exists in the budget for some activity does not mean you are entitled to spend that money.
- This budget was approved by the Board at the May meeting (Bylaws VI.1.D.5).
Mike Bishop
Notes on actual
- Better than forecast Rental and Carnival income plus lower Donations allowed us to reverse the loss expected for the year;
- When gaming revenue’s are included we actually showed an increase of ~$5K for FY2011 (after accounting for the “SWM” program).
Mar 20, 2011
Ways and Means Committee
Vincent Veit, Treasurer, WACO
Phone:7970 Email: tres@waco-ak.org
Krista Grilliot • Ronnie Widner
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