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June 13, 2013 2014/2015 Budget Development Information . Special Board of Directors Meeting. BOARD RESPONSIBILITIES . As members of the Board you have certain responsibilities to the organization: . Determine long-range mission and goals; Establish RA policy and procedures;

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board responsibilities
BOARD RESPONSIBILITIES
  • As members of the Board you have certain responsibilities to the organization:

Determine long-range mission and goals;

Establish RA policy and procedures;

Hire the Chief Executive Officer (CEO), to oversee the operation of the Association;

Monitor finances, approve budgets, set the Assessment; and,

Approve Association programs through the budget process.

Each of these responsibilities is interdependent, especially when establishing the biennial budget.

purposes of the association
PURPOSES OF THE ASSOCIATION
  • Interpret, administer and enforce the protective covenants and restrictions of the Deed of Dedication in such a manner as to conserve and protect the value of all property subject to the Deed.
  • For the benefit of the members, acquire, own and lease property (real or personal) and to improve, administer and maintain such property in neat and good order.
  • Assess, collect, and disburse the assessments and charges authorized by the Deed.
  • Promote the peace, health, comfort, safety and general welfare of the Members.
  • Do any and all lawful things and acts that it, in its discretion, may deem to be for the benefit of the property and the owners and inhabitants thereof.
  • Exercise powers now or hereafter conferred by law on VA nonstock corporations as may be necessary/desirable to accomplish the above stated purposes.
staff recommendations on determining 2014 2015 budget initiatives
STAFF RECOMMENDATIONS ON DETERMINING 2014/2015 BUDGET INITIATIVES
  • The strategic theme for the 2014/2015 Budget should be Sustainability & Community Viability – To effectively manage all resources, resulting in a sustainable and viable community
  • It is time for the organization to pay attention to infrastructure upkeep and maintenance. We need to take seriously our responsibilities of:
        • Conserving and protecting the value of all property; and,
        • Improving, administering and maintaining such property in neat and good order.
  • We need to reinvest in Reston; we need to better maintain what we have.
staff recommendations on determining 2014 2015 budget initiatives1
STAFF RECOMMENDATIONS ON DETERMINING 2014/2015 BUDGET INITIATIVES
  • In reviewing the prioritized initiatives staff have provided, we ask that you keep the following in mind:
        • Many of the suggested initiatives have been on staff’s “wish list” for more than four (4) years.
        • Staff holds the same desire of the Board and Members of the community, extending the useful life of our common elements/infrastructure while at the same time maintaining such property in neat and good order.
        • Many of the initiatives, if chosen, will have a long-term impact on the community as they put in place processes that will improve the appearance of the community, property values, and systems functionality.
        • To accomplish some of these initiatives it will be important to have all of the interrelated resources in place: capital, human, and economic.
important points
Important points

Think about the following when determining your 2014/2015 Budget Priorities:

  • Will the initiative support or help achieve the Association’s vision, mission, core values and strategic plan?
  • Is the initiative directly related to any of the key purposes of the organization?
  • What does the organization wish to accomplish in the next 24 month cycle?
the assignment
THE ASSIGNMENT
  • Review each of the documents provided - 2014/2015 Budget Suggestions and 2014/2015 Budget Priorities Identified by Reston Association Staff.
  • Attend the following budget information meetings:
          • Friday, June 21, 4:30 pm Comstock Tour
          • Saturday, June 22, 9 am Facilities Tour
          • Thursday, June 27, 6 pm Regular Board of Directors Meeting
  • Ask questions of Staff related to the Budget Suggestions and Staff Priorities identified.
  • Rank the initiatives in order of preference to you, where 1 would be your highest priority, 2 your second, 3 your third, etc. Please use the form provided by Staff.
  • Submit your rankings no later than 5:00 pm, July 8, 2013 for compilation by Staff.
  • Work with fellow Directors during the Thursday, July 11, 2013 Board meeting to determine what initiatives should be included in the 2014/2015 Budget.
next milestones in the 2014 2015 budget development process
NEXT MILESTONES IN THE 2014/2015 BUDGET DEVELOPMENT PROCESS

Board Meeting on July 11 – Staff will provide information on:

  • Results of Program and Service Benchmarking Projects
  • Recommended Program and Service Fee Scheduled for 2014/2015
  • Currently Slated Capital Projects for 2014/2015
  • Funding Option for Select 2014/2015 Slated Capital Projects

Board Meeting July 25 – Staff will provide a status report on the budget development process

Late August – First 2014/2015 Budget Draft completed and delivered to Board for review

  • Board Tours on June 21 and 22
  • Board Meeting on June 27 – Staff will provide information on:
        • Anticipated Impact of the Health Care Reform Act on Operating Expenses
        • Results of 2012 Salary Study and Recommendations for New Salary Structure
        • Cost Benefit Analysis of Adding Seasonal Positions and/or Converting Part-Time Positions to Full-Time
        • Employee Background Check Requirements
questions answers
Questions & Answers

Call Cate at 703-435-6512 or email: cate@reston.org