[Lnc-business] scheduling an LNC budget review session

[Daniel Wiener]

We have a revenue line item "4108 - Building Fund" of $67,300 which
represents the amount of money we need to raise (including fund-raising
costs) to satisfy the Policy Manual requirement of paying down the
principal on the mortgage by at least $60,000 during off-election years.
All well and good.  But I don't see any corresponding line item expenditure
in the budget beyond the $7,300 (in "7085 - Building Fund Fundraising Exp")
to account for the $60,000 mortgage pay-down.  I assume that the $60,000 is
incorporated into the $75,000 which is listed at the bottom of the
spreadsheet as "Capital Expenditures plus Release to pay off Mortgage"
(with the other $15,000 being the non-interest portion of our monthly
mortgage) because accounting-wise it is a capital expenditure rather than a
normal budget item.  However, we are still going to have to spend that
$75,000, and the $10,402.33 projected Unrestricted Operating Deficit does
not include it.  *So from a cash-flow perspective we are actually looking
at a $85,402.33 hole for 2015*.  Am I missing something?

Dan Wiener

On Fri, Nov 28, 2014 at 9:37 AM, Tim Hagan <timhagan-tyr at yahoo.com> wrote:

> The draft budget is attached. As you can see on the bottom of the
> Operating Budget sheet, this budget is has a deficit of $10,402, so we will
> need to make decisions on where to put our resources. The numbers in the
> Operating Budget sheet come from the Acct Detail sheet. Comparisons to the
> last two off years (2011 and 2013) and to this year are included. The
> bottom of the Acct Detail sheet has notes explaining the numbers.
>
> The budget expects the Chair and the Executive Director to solicit $20,000
> each, with the rest of the LNC also raising $20,000.
>
> Administrative costs (number 40) are reduced due to savings from the
> building purchase. The actual Office expenses for next year are shown in
> the Office Exps sheet, copied to 8170-Total Occupancy & Related on the Acct
> Detail sheet.
>
> Compensation is based on the salaries and benefits for 2014, including the
> last salaries for the Receptionist and LP News Editor positions that became
> open this year. The budget does not include the potential of $25,000 for
> staff bonuses, which depend on meeting revenue goals.
>
> $15,000 was budgeted for Affiliate support.
>
> We budgeted $5000 for candidate training such as the Who’s driving
> educational program.
>
> The Campus Support fund has $3287 in it, so we budgeted $3000 for campus
> support.
>
> We budgeted $5000 for Initiatives Campaign support.
>
> The number of LP News issues is back to four per year, which is the same
> as the last two off years. Each LP New issues costs $8600.
>
> Per the Policy Manual, $60,000 is to be raised for the Building Fund to
> pay down the principle on the office mortgage.
>
> Capital expenses gets $15,000, which includes IT.
>
> There is a possibility of getting the maximum annual allowable ($32,400
> plus the inflation adjustment) from a bequest. This is not finalized, so we
> did not include the amount in the budget.
>
> Tim Hagan
>
>   ------------------------------
>  *From:* Alicia Mattson <agmattson at gmail.com>
> *To:* lnc-business <lnc-business at lp.org>
> *Sent:* Tuesday, November 25, 2014 12:27 PM
> *Subject:* [Lnc-business] scheduling an LNC budget review session
>
> The Executive Committee has reviewed and made some adjustments to the
> draft budget.
>
> You may recall that in the September LNC meeting in Alexandria, we adopted
> a motion, "that the LNC have an informal conference approximately 2 weeks
> prior to the December session in order to review the draft budget to be
> proposed at that session."
>
> In terms of scheduling a time for this review, Robert Kraus will be off
> work following the Thanksgiving holiday until December 2nd, and we need him
> to be available to field questions during this review.
>
> The current proposed time to have a budget review with the full LNC is
> December 3rd at 9pm Eastern / 6pm Pacific.
>
> How well does that proposed schedule work for the rest of the LNC?  Please
> respond to let us know if you would be available then or not.
>
> Alicia Mattson
> LNC Secretary
>
>
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>
>
>
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>
>


-- 
*"In general, we look for a new law by the following process. First, we
guess it (audience laughter), no, don’t laugh, that’s the truth. Then we
compute the consequences of the guess, to see what, if this is right, if
this law we guess is right, to see what it would imply and then we compare
the computation results to nature or we say compare to experiment or
experience, compare it directly with observations to see if it works. If it
disagrees with experiment, it’s WRONG. In that simple statement is the key
to science. It doesn’t make any difference how beautiful your guess is, it
doesn’t matter how smart you are, who made the guess, or what his name is.
If it disagrees with experiment, it’s wrong. That’s all there is to it.”*
-- Richard Feynman (https://tinyurl.com/lozjjps)
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