[Lnc-business] Draft 2019 Budget

[Justin O'Donnell]

I was concerned when reading the same thing. As things stand, I would be 
opposed to adopting a budget with a planned deficit. Perhaps it would be 
prudent for everyone to take some time reviewing the budget, and 
identifying things they would suggest reducing in order to eliminate the 
deficit.

---
Yours in Liberty,

Justin O'Donnell
LNC Region 8 Representative
LPNH Alternate- LNC Platform Committee
Chair- LPNH Platform Committee
Candidate for US Congress, NH-2
www.odonnell2018.org

On 2018-11-26 09:15, Joe Bishop-Henchman via Lnc-business wrote:
> I look forward to more information on the draft budget as we get
> closer to the meeting. From my initial read, and I'm happy to be
> corrected, it looks like despite a significant projected increase in
> Board-solicited major gifts, and a significant wringing out of
> discretionary expenses, we're projected to be in a six-digit negative
> cash flow situation.
> 
> JBH
> 
> ------------
> Joe Bishop-Henchman
> LNC Member (At-Large)
> joe.bishop-henchman at lp.org
> www.facebook.com/groups/189510455174837
> 
> On 2018-11-25 03:27, Tim Hagan via Lnc-business wrote:
>> A draft 2019 budget is attached in Excel and PDF formats. The PDF is 
>> in
>>    three files, one for each worksheet.
>>    As the LNC has done in the past, Adoption of 2019 Budget is in the
>>    agenda twice: Saturday afternoon and Sunday morning. Saturday 
>> afternoon
>>    we will go over the budget and entertain questions and amendments.
>>    Sunday can have more amendments as committee members mull over the
>>    budget overnight, concluding with a vote whether to adopt the 
>> budget.
>>    The first worksheet, Operating Budget, has the budget to be 
>> considered
>>    in column I, highlighted in blue. It also shows the amounts spent 
>> in
>>    2015, 2017, and extrapolated for 2018. The budget amounts are
>>    calculated from the values on the Account Detail sheet.
>>    Note on the Operating Budget sheet, row 45, that the budget has a
>>    $127,550 net deficit. The finances are done by the accrual method, 
>> so
>>    we have already booked the principle on the office, the bequests, 
>> and
>>    the 2018 convention expenses. For 2019, we will need additional 
>> cash to
>>    cover the mortgage principle payments and what's still owed for the
>>    convention, and will be able to withdraw the contribution limits 
>> for
>>    the two bequests held in trusts. These are shown in rows 46-48, and 
>> the
>>    cash deficit, shown on row 50, is $205,266.
>>    The Acct Detail worksheet has footnotes explaining the rationale 
>> for
>>    each value. Column P (Class) shows which budget item on the 
>> Operating
>>    Budget worksheet the value belongs to.
>>    Projected office expenses are on the Office-Admin Exps worksheet.
>>    Salary information is on another sheet that we will go over in
>>    executive session during the meeting since it contains personal
>>    information.
>> 
>>    --
>>    Tim Hagan
>>    Treasurer, Libertarian National Committee