[Lnc-business] September Financial Reports

Sat Nov 4 08:48:25 EDT 2017

Joshua,

Regarding #1, there are a few new products added to inventory this year 
that probably have impacted the reported expenses outrunning revenues a 
bit:

https://lpstore.org/product/battery-backup/
https://lpstore.org/product/usb-drive/
https://lpstore.org/product/dont-blame-me-bumper-sticker/
https://lpstore.org/product/dont-spy-on-me-t-shirt/
https://lpstore.org/product/womens-scoop-neck/
https://lpstore.org/product/taxation-is-theft-t-shirt/
https://lpstore.org/product/im-with-her-t-shirt/
plus some expenses for a 2'x8' banner that hasn't been posted yet and a 
small run of convention shirts.

Products we price below the price we sometimes pay to vendors for batches:
https://lpstore.org/product/door-hanger-quiz/
https://lpstore.org/product/what-is-the-lp-rack-card/
https://lpstore.org/product/yes-join-the-lp-rack-card/

Regarding #2:

We did a budget that automatically adjusted the budget for branding in 
2016. It basically worked, but made accounting a bit complicated, was 
error prone, and made reporting our budget complicated. "What's our 
total budgeted revenue for 2016? Changes every time someone makes a 
purchase at LPStore.org."

To simplify things, for 2018 I prefer a simple treatment in the budget 
along the lines of a simple revenue and expense number such as $100,000 
for revenue, and $100,000 for expenses, but then similar to the way you 
add a proviso to ballot access spending, tack on a proviso that branding 
expenses should not exceed branding revenue by more than $15,000.

Keep in mind that while LPStore.org purchases and sales are the bulk of 
those budget lines, other activities can get booked to the branding 
expense and revenue budget lines, such as graphic design work for branding.

For the 2017 budget, I think Robert and I originally proposed $50,000, 
but the budget adopted had the unrealistically low $30,000, which is why 
we've had to adjust the line this year a time or three.

Wes Benedict, Executive Director
Libertarian National Committee, Inc.
*New address: 1444 Duke St., Alexandria, VA 22314*
(202) 333-0008 ext. 232, wes.benedict at lp.org
facebook.com/libertarians @LPNational
Join the Libertarian Party at: http://lp.org/membership

Joshua Katz wrote on 11/3/2017 11:23 PM:
> I will support this, of course.  I have two questions, one for Tim and 
> one for the LNC in general:
>
> 1.  I know we generally sell items at close to cost, because the main 
> goal is getting our name out.  For the same reason, I'm not opposed to 
> selling things below cost, at times.  I just am curious what the 
> source of the difference is - is it inventory, or are we selling some 
> things below cost?
>
> 2.  General question: is there any taste on the LNC for a pegged 
> budgeting system for these sorts of matched lines?  My thought is to 
> amend the Policy Manual to allow unlimited overage on these lines, so 
> long as it is fully funded (or within some range) by the corresponding 
> revenue line, but I don't want to work out the language unless I have 
> some idea that there's a taste for making a change along those lines.
>
> Joshua A. Katz
>
>
> On Fri, Nov 3, 2017 at 9:02 PM, Daniel Hayes <danielehayes at icloud.com 
> <mailto:danielehayes at icloud.com>> wrote:
>
>     I will Co-sponsor.
>
>
>     Daniel Hayes
>     LNC At Large Member
>
>     Sent from my iPhone
>
>     On Nov 3, 2017, at 8:53 PM, Tim Hagan <timhagan-tyr at yahoo.com
>     <mailto:timhagan-tyr at yahoo.com>> wrote:
>
>>     The September End-of-Month Financial Reports are attached. The
>>     reserve has improved, increasing to $136,544 versus a reserve
>>     target of $57,042.
>>
>>     The Brand Development/Political Materials Expenses at $58,244 has
>>     almost reached its annual budget of $60,000, with one quarter
>>     left in the year. Brand Development/Political Materials Revenues
>>     was at $49,974. We need to increase these amounts if we want
>>     headquarters to continue selling shirts and literature. Having
>>     our members wearing the Libertarian apparel and handing out
>>     literature helps build brand awareness.
>>
>>     I am seeking co-sponsors to increase both 26-Brand
>>     Development/Political Materials Revenue and 55-Brand
>>     Development/Political Materials Expenses from $60,000 each to
>>     $80,000 each.
>>
>>     Tim Hagan
>>
>>
>>
>>
>>     <2017-09-Staff-End-of-Month-Reports-Draft-1.pdf>
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>
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