2007 Budget Review
There are many items that comprise the FPA MN budget. When you boil it all down, there are two bottom line goals of the FPA MN does year-in and year-out.
· Provide meaningful services to the membership
· Grow the number of members
As a board, we regularly discuss the purpose and value the various committees bring to the two bottom-line goals. As a result, we sometimes shuffle the committees that make up the board. An important part of this process is allocating our approximately $360,000 budget.
In 2006, due to the leadership of all the committee directors, we had a budget surplus of $13,000. We deferred some expenses and decided not to spend other budgeted items. Additionally, Janet Stanzak led a new investment allocation for some of our reserve funds. This new allocation is conservative but hopefully will provide more return than money market returns without incurring undue risk.
For 2007, after we consider two one-time purchases, we have an operating budget at a deficit of $1,200. Included in this budget are some exciting enhancements to serving our membership and worth the proposed deficit spending. As a board, we do not want to be in the habit of deficit spending. However, there are some budgeted expenses that may not be spent or lower than anticipated. We are confident that we have a budget that meets our bottom-line goals for 2007.
|
Robert Eichten
PFS, CFP® Secretary/Treasurer |
 |
| Abbreviated Statement of Activities - Cash Basis Year-to-Date December 31, 2008 (unaudited) |
||||
| Revenue: | ||||
|
2007
|
2008
|
|||
| Dues |
51,733
|
52,930
|
||
| Meetings, Symposium, Other Events |
162,827
|
212,842
|
||
| Partners |
143,529
|
140,936
|
||
| Advertising |
1,560
|
310
|
||
| Other |
12,220
|
-8,081
|
||
| Total Revenue |
371,869
|
398,937
|
||
| Expenses | ||||
| Management & Administrative Costs |
133,437
|
140,157
|
||
| Committees |
3,218
|
3,351
|
||
| Meetings, Symposium, Other Events |
131,888
|
172,355
|
||
| Conferences and Training |
7,383
|
10,963
|
||
| Printing and Postage |
5,737
|
5,980
|
||
| Scholarships and Awards |
5,809
|
2,355
|
||
| Public Relations Consultant |
11,000
|
17,528
|
||
| Speaker & Auditor Fees and Expenses |
35,871
|
31,888
|
||
| Webinar/Virtual Learning Seminar Expenses |
7,279
|
6,747
|
||
| Banking/Merchant Account Charges |
4,427
|
6,815
|
||
| Taxes |
229
|
0
|
||
| Allied Alliance Outreach |
5,500
|
2,500
|
||
| Total Expenses |
351,778
|
400,639
|
||
| Net Income/Loss (taken from reserves) |
20,091
|
-1,702
|
||
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