[Lnc-business] September Financial Reports

[Joshua Katz]

Thanks Wes. I would be happy with a higher than expected number and such a
proviso.
On Nov 4, 2017 7:48 AM, "Wes Benedict" <Wes.Benedict at lp.org> wrote:

> 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 <(202)%20333-0008>, 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>
> 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> 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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