[Lnc-business] Draft Budget

[Tim Hagan]

The draft budget to be considered at next month's meeting is attached. Some notes:

The Operating Budget worksheet, column F (highlighted in blue) is the budget to be considered. Its numbers are derived from the yellow-highlighted column in the Acct Detail worksheet. The footnotes at the bottom of the Acct Detail worksheet explain how we came up with the 2017 numbers.

Many of the numbers are based on the 2013 and 2015 numbers. We are predicting that membership will be 19,583 in January, dropping to 15,000 at the end of next year. This gives an average throughout the year of 17,292, which is 28% higher than the average of 2013 and 2015 membership. Some revenues and expenses are increased 28% to account for this increased membership.

Because of our accounting method, the value of the office shows up as a fixed asset with the mortgage as a long-term liability, and paying down the mortgage's principal is a transfer from checking to the mortgage. Likewise, the bequest held in a trust is also an asset, which gets transferred to Cash in the books when we receive a check. Rows 46 and 47 on the Operating Budget worksheet show these transfers so the spreadsheet can show the surplus or deficit of the cash. For the cash flow, the draft budget has a net deficit of $154,900.
Tim Hagan
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