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2014-15 Budget Preview

2014-15 Budget Preview. 6 March 2014. Overview. Background Savings Income 2013-14 Budget 2014-15 Budget Introduction Next Steps. background. Background – “Savings”. $775,000 in “savings” $475,000 is fairly illiquid Invested in endowment $300,000 is liquid

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2014-15 Budget Preview

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  1. 2014-15 Budget Preview 6 March 2014

  2. Overview • Background • Savings • Income • 2013-14 Budget • 2014-15 Budget • Introduction • Next Steps

  3. background

  4. Background – “Savings” • $775,000 in “savings” • $475,000 is fairly illiquid • Invested in endowment • $300,000 is liquid • In checking or money market accounts Bottom line: We have a lot of savings! But not all of it is readily accessible

  5. Background – Income • Additional notes • CACSSF funding for GSPA ($15,000) ends next year • Student fee funding linked to enrollment • Pepsi money: Historically used for alcohol and future investments • Potential future income • Working on securing additional commercial revenues (up to 100k) • Potential for further university funding for certain programs Pepsi Money: $50,000 Bottom line: We have a good amount of earnings, some of it is earmarked

  6. Background – Expenses 2013-14 Allocated Expense Breakdown Notes • Allocated 584k expenses on 542k income: 45k deficit • Best guess is that we will roughly breakeven • Student Group Funding, Budget Office, other budgets not spent in full Bottom line: The GA allocated a deficit in 2013-14. Historically though, a significant portion of money ends up unspent, making our real deficit smaller than it appears.

  7. 2014-15 budget preview

  8. Process • Final budgets were submitted on March 1st • Today: Presenting a preview of the budget • Numbers you see are requested amounts • Budget Committee has started meeting, but has not finalized it’s recommendations. • Will present final recommended budget at April meeting.

  9. Overview

  10. Multi-year takeaway • Number of things driving growth in expenses: • Student Group Funding • Officer/PC stipends • 2 new projects (QTAP and GSPA) • PC programming

  11. Takeaways for this year • Allocated deficit will be difficult to decrease next year • Reasons include both decreasing income (GSPA) and increasing funding requests • Increased funding requests • Some staff stipend adjustments (alignment with $20/hr) • Great set of PCs have been very active this year, are requesting both more program funding and increased stipends for next year to • Conversations ongoing between Budget Committee, PCs, and Exec Board to resolve stipend requests

  12. Moving forward • Waiting to confirm • Next year’s carryforward • Additional $100k in commercial revenues • Action items • Finalize stipend discussions • Revise/Finalize Budget Comm. recommendations based on above info • Present final budget in April with following goals • Present revamped budget process for next year at April meeting

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