Recommendations by the Finance Committee
For Board Action 12-13-15
· For the office to begin charging shipping and handling expenses on all sales of merchandise items.
· To go to 4 electronic Journals and one print for 2016.
· To double the cost of attending the annual meeting from $45.
· Recommendation of a 10% administrative fee for handling SFE awards.
· We create a 25% reimbursement category for chapters that are 7 – years old.
· To spend the Elmer Krushinske fund over a 3-year period for marketing purposes, including dollar amounts in the Strategic Plan.
BACKGROUND: The Treasurer and Executive Director had gone over the budget, line by line in preparation for the Finance Committee meetings. Initial emailed projections had been for a budget that was short by $61,551. The Treasurer also presented the committee a separate list of 16 suggestions for changes that would either reduce expenses or increase revenues. These would amount to $62,985. The committee accepted, rejected or changed these, into the above.
NEW IN 2015: Changes in the Executive Director’s personage and pay and the change from contracting with her to an in-house staffing arrangement. These include Unemployment Insurance (WI) of $2000+, Unemployment (Fed) $170, IRA matching $3500, and market rate salary for the Executive Director.
The WILD Center is being rented for sleeping for approximately 25 nights and $2000 via AirBnB online room rentals. Asset funding of the Foundation Loan is dissipating, final payment will be May, 2018.
In recent years we have also added insurance and have done our first Audit and a Financial Review. And the Elmer Krushinske fund has been used to fund new positions, one of which continues.