2023-06-28 FY23-24 Budget Approved, Membership Renewal Starts, Elections
Budget
The Executive Board of Directors unanimously approved the FY2023-2024 budget at last nights monthly board meeting. All executive officers were present.
To note, this budget year is the first to establish recognition for a reserve budget line with motions made and passed to establish a formal banking account to isolate the reserve funds. Briefly, a reserve is a safe haven for deferred and unexpected capital expenditures that fall outside the annual operating budget. Such expenditures could be used for one-time purchases, such as buying a piece of shop or AV equipment.
This coming fiscal year’s financial considerations (not yet approved) include additional capital expenditures not part of the annual operating budget. They are repairs to the workshop SawStop table saw, the planer, replacement workbenches, and additional audio-visual equipment. At present, the total exceeds the amount the board is comfortable with spending. More research and discussion is planned.
Membership Renewal Starts
In time for the beginning of our new fiscal year on 1 July, with the board’s approval of the budget, the member annual dues were confirmed and held at $45. Your annual membership dues is a major source of income for the guild.
This year, the late fee will be imposed starting with renewals made on or after Sunday, 6 August.
Through your dues, the board can conduct the business of the Guild. With your funds we:
- Rent the meeting space ($3,480),
- Obtain quality demonstrations ($2,200),
- Support the workshop ($2,410),
- Door prizes ($1,200),
- Provide an education program (new item, $500),
- Hold an annual picnic ($600),
- Provide a website, e-commerce store, electronic mail, and streaming content ($794),
- Deferred Expenses (new item, replenish the reserve, $500),
- Liability Insurance ($300), and
- Miscellaneous other categories ($332)
All your guild officers, committee chairs, and advisors are volunteers. We serve you, the members, to facilitate the operation of the guild, and to ultimately preserve the woodworking craft. You can help by volunteering in any way you can, from a single short-term activity to an annual commitment.
Elections
Nominations for Vice President and Treasurer are NOW OPEN!
Also at last night’s board meeting, David Knipfer was appointed our ongoing Election Committee Chair. David has performed this role many times in the past. This year, David, and the board hope to have two more participants with David on the Election Committee. [note]We will conduct a digital ballot voting process in September as we did last year. Please stand by for more information to be provided at the July and August monthly meetings, and direct mail to your email inbox.[/note]
For Vice President, Mike Heavner, current Vice President, has decided not to run for another term. We will miss his presence in our board meetings. He’s been a valuable participant. We urgently need a nominee!
For Treasurer, Mark Fradkin, will finish this month the two-year term started by Manny in 2021. Mark (thankfully) has agreed to run again as Treasurer.
Comments
2023-06-28 FY23-24 Budget Approved, Membership Renewal Starts, Elections — No Comments
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