Board Minutes September 2024: Difference between revisions

Board Minutes September 2024 (view source)

Revision as of 02:20, 10 September 2024

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→‎Budget Discussion (Sarah - 8 min)

Adam.burgess

Bureaucrats

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 === Budget Discussion (Sarah - 8 min)===
 *
-* Discussion notes:
+* 4 Scenarios were circulated to staff and board
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+*Scenario 1 is a balanced budget (BE has a surplus of $111.80 at the end of 24/25). It assumes that all staff salaries and hours remain the same in 24/25 as they were in 23/24. Keith and I considered written feedback from Alex as well as a feedback provided by Coreen at a budget discussion meeting to generate the revenue and expense projections. We used Scenario 1 as the basis for the other 3 scenarios.
+*Scenario 2 assumes that we increase staff salary costs by 10%. The board would have to determine how they wanted to assign those increases- no assumptions were made on that point in the scenario. It uses the same revenue and expense projections as Scenario 1 as raises won't affect the revenue generated and only staff expenses increases. It leaves BE with a deficit of $17,888.20 at the end of 24/25.
+*Scenario 3 assumes that we decrease staff costs by 20%. No assumptions were made on how those costs would be decreased. It assumes revenues will fall by 10% as a result of cutting hours. This would leave BE with a surplus of $36,111.80. The Finance Committee notes that when the board decided to end the ED role, the board also motioned to pay for admin help. This scenario envisions that BE would be in a position to pay for such help at end of fiscal next year.
+*Scenario 4 assumes that we decrease staff costs by 40%. No assumptions were made on how those costs would be decreased. It assumes revenues will fall by 20% as a result of cutting hours. This would leave BE with a surplus of $72,111.80. This scenario envisions that BE would be in a position to hire an ED at end of fiscal next year.
+These scenarios take into account no new fundraisers or grants.
 {{Motion