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http://www.fppta.org/FPPTA/Forms/2011_Approved_Budget.pdf
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FPPTA 2011 Final Budget
Approved January 29, 2011
Presented by Raymond T. Edmondson, Jr., CPPT, CEO
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Adjustments to 2011 Budget
Revised August 23, 2010
Revised November 2010
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Presented September 2010
By Raymond T. Edmondson, Jr., CPPT, CEO
Per FPPTA Board of Directors
September 25, 2010
Board of Directors Meeting
1. Associates Membership dues reduced from $2,000 to $1,800 for the year 2011.
2. CEO reported adjustment in State Sales Tax refund to $77,944.34.
3. Dismissal of National Legislative Consultant.
4. Combining National Legislative Consultants, State Legislative Consultants and
Retirees Program Consultants positions into one.
5. Reducing Combined budget for National, State Legislative and Retiree
Consultants from $49,900 to $12,000.
6. Program cuts and adjustments:
a. No monthly national legislative reports.
b. No sponsored trip to Washington, DC to meet Florida delegation.
c. No presence at national legislature.
d. No personal contact on behalf of FPPTA
e. No personal contacts with State Legislators.
f. No personal contacts with committee chairpersons.
g. No FPPTA Day in Tallahassee to meet Legislators.
h. No presence at Florida Legislature on behalf of FPPTA.
i. No attempt to get legislation introduced to strengthen defined benefit
plans.
7. Changing banking affiliations. This was accomplished after original budget
revision of August 2010. We now have two banks to deal with instead of three.
The two bank approach was recommended by the yearly outside audit. This has
been accomplished.
8. There may be a slight increase in the e-newsletter cost, due to my request it be
more interactive with our members.
9. FPPTA staff salaries frozen at 2010 pay rates. No increases.
Total Surplus estimated for the 2011 Budget was $174,934.
New Budget Surplus estimated for 2011, as of this revision, $176,884.
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As to the difference in the surplus, Associate membership was reduced by $30,000;
Legislative programs budget was reduced by $37,900; Speaker fees were increased
$2,000. Hence there is a small difference in the surplus amount.
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FPPTA
2011 Proposed Budget Work-Up
Revised August 23, 2010
Approved January 29, 2011
Presented June 2010
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By Raymond T. Edmondson, Jr., CPPT, CEO
Five Year Plan
Fees 2010 2011 2012
Membership
Active $600.00 $600.00 $600.00
Associate $1800.00 $1800.00 $1900.00
Registrations
Schools
Active $400.00 $450.00 $450.00
Associate $650.00 $700.00 $700.00
Conference
Active $500.00 $500.00 $500.00
Associate $750.00 $800.00 $800.00
Expo $1300.00 $1500.00 $1500.00
CPPT
Pre-Registered $800.00 $800.00 $800.00
On-Site Registration $900.00 $900.00 $900.00
Re-Certification $100.00 $30.00 $30.00
NYSE
Trustees $500.00 $500.00 $500.00
Guests $100.00 $100.00 $100.00
Sponsors $6000.00 $6000.00 $6000.00
Retirees 9.99 9.99 9.99
Benefits 9.99 9.99 9.99
Sponsorships for the schools and conference will remain as of 2010
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MEMBERSHIP
INCOME
Pension Boards
2008 we had about 230 member boards
2009 we had 258 member boards
2011 figured on 240 boards to be safe
240 x $600 = $144,000
Associates
2008 we had 104 Associate members
2009 we had 181 Associate members
2011 figure on 150 Associates to be safe
150 x $1,800 = $270,000
SCHOOL ATTENDANCE
You must calculate on a school one year ago, and predict what it
will be one year forward based on location and past experience.
The January/February School is usually the smaller function.
Sites are chosen on various factors: The area of the state, the
weather, the facility, the ease of travel for attendees and speakers,
such as highway, airports, etc.; the room price, the food price, the
accessibility of shopping and restaurants, the facility staff, the
facility layout, are the sessions and lodging under the same a/c,
parking safety and security.
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BUDGET PROCESS
For the 2011 budget, I took the actual expenses of 2009 and
predicted what they will be in 2011. I have reorganized the format
of the budget to make it easier for you to see with revenue and
expense per function. In 2009 and 2010 we totally remodeled the
FPPTA offices at a cost of approximately $47,600.00. It should be
noted that this figure also included repairs:
Two roof leaks;
One exterior door and jam was replaced;
Exterior scraped and repainted;
North wall of building encompassing Kim’s and Lois’s
offices a section of 4 foot by 20 foot needed to be replaced
due to water intrusion causing mildew and fungus inside the
wall section. Interior section was removed plus insulation,
cleaned with bleach and replaced new. Outside of wall, brick
was sealed and a water diverter plus gutter and down spout
installed;
All outside door locks need to be replaced.
These funds came from surplus and the remodeling was long
needed. We have put money back into the business with our new
database at a cost of $32,500.00. We have also had to spend funds
on Town Hall meetings and professional consultants to protect our
interests. The funds expended were spent within the organization
to modernize and protect future assets.
It is difficult to give you a more accurate budget until we realize
the full impact of being sales tax exempt. I keep checking our fund
balances against prior years and I can tell you we are financially
sound.
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CPPT CERTIFICATION
The CPPT recertification fee will now be paid on a yearly basis.
The three year cycle is too labor intense. The $30.00 fee is for
processing and will be collected when the yearly CEU form is
received. If there is a one year, or more, lapse in receiving the
CEU form or recertification fee, the individual will be suspended
from the program. To be reinstated, the individual must take and
pass the advanced test plus pay a $100.00 fee.
FLORIDA SALES TAX REFUND
The State of Florida Department of Revenue, after reviewing all
materials submitted, has agreed to pay a refund to the FPPTA of
$77,944.34.
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Note:
The Annual Fishing Tournament is at no cost to the FPPTA.
The Annual Associates Charitable Golf Classic surplus is deposited in a
separate account for a relief fund to assist members in distress.
The excess of non-educational functions will go to charitable causes.
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REVENUE
INCOME
EXPENSE Membership
Membership Active $144,000.00 covered in normal expenses
Associate $270,000.00 Benefits $1,000.00 Retirees $1,000.00 Subtotal $416,000.00
Sales Tax Refund $77,944.00 Recertification Fees $6,000.00 Subtotal $83,944.00 January/February School January/February School
Active Registrations $129,375.00 Audio/Visual $12,000.00 Associate Registrations $42,000.00 Casual Labor $500.00 CPPT Registrations $20,000.00 Food & Beverages $80,000.00 Sponsorships $20,000.00 Entertainment $1,000.00 Subtotal $211,375.00 Equipment Rental $400.00
Refunds $2,500.00
Signs $450.00
Travel $4,000.00
Lodging $18,000.00
Per Diem $3,500.00
Subtotal $122,350.00
September/October School September/October School Active Registrations $168,750.00 Audio/Visual $14,000.00 Associate Registrations $63,000.00 Casual Labor $500.00 CPPT Registrations $20,000.00 Food & Beverages $85,000.00 Sponsorships $20,000.00 Entertainment $1,000.00 Subtotal $271, 750.00 Equipment Rental $400.00
Refunds $2,500.00
Signs $750.00
Travel $4,000.00
Lodging $19,000.00
Per Diem $3,500.00
Subtotal $130,650.00
Annual Conference
Annual Conference Active Registrations $175,000.00 Audio/Visual $20,000.00
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Associate Registrations $142,000.00 Casual Labor $600.00 Sponsorships $35,000.00 Food & Beverages $215,000.00 Expo $85,500.00 Tote Bags $4,000.00
Subtotal $437,500.00 Signs $1,500.00
Children's Activities $6,000.00
Lodging $4,500.00
Travel $8,000.00
Per Diem $4,500.00
Entertainment $2,000.00
Prizes $950.00
Awards $3,000.00
CPPT Plaque $2,400.00
Subtotal $272,450.00
NYSE NYSE
Entertainment $11,000.00
Trustees $17,000.00 Food & Beverages $40,000.00 Guests $3,000.00 Lodging $5,000.00 Sponsors $54,000.00 Travel $9,000.00 Subtotal $74,000.00 Equipment Rental $2,000.00
Per Diem $1,100.00
Subtotal $68,100.00
Golf Classic Golf Classic
Greens Fees $13,000.00
Greens Fees $13,000.00 Signs $150.00
Sponsorships $13,000.00 Trophies $190.00 Subtotal $26,000.00 Breakfast $900.00
Subtotal $14,240.00
Fishing Tournament Fishing Tournament
Food & Beverage $15,000.00
Entry Fees $1,125.00 Shirts $2,500.00 Sponsorships $18,875.00 Staff $1,600.00 Subtotal $20,000.00 Prizes $1,200.00
Subtotal $20,300.00
Voice Magazine Voice Magazine
Consultant - Ann Thompson $3,350.00
Ads $15,900.00 Graphic Design - Vanessa
Zein-Eldin $2,883.00 Subtotal $15,900.00 Outside Printing $8,096.00
Subtotal $14,329.00
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GENERAL EXPENSES Accounting Fees $12,000.00
Audit Fees $6,400.00
Auto Expense Staff $10,800.00
Contributions $2,400.00
Bank Charges $400.00
Credit Card Fees $12,000.00
Dues/Subscriptions $3,000.00
Building Maintenance $2,500.00
Consultants Educational $56,712.00
Media $6,000.00
Public Relations $10,200.00
National & Florida Legislative $12,000.00
Continuing Education $1,000.00
Cable Service $950.00
Equipment Leasing $26,000.00
Entertainment-Office $1,500.00
Data Processing $15,000.00
Faces of Florida $1,600.00
Legal Fees $20,000.00
Licenses & Permits $300.00
Mortgage $33,756.00
Printing $30,700.00
Real Estate Tax $0.00
Speakers $14,000.00
Building Lawn Care $900.00
Postage $20,500.00
Stationery $11,000.00
Telephone $9,500.00
Utilities $7,000.00
Website/Database $30,000.00
Insurance Health $23,520.00
Building $2,600.00
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Workers Comp $2,000.00
Meeting Cancellation $5,306.00 Officers & Directors $3,000.00 Liability $2,832.00 Umbrella $301.00 Building Security $2,488.00 Town Hall Meetings $30,000.00 Pest Control $700.00 Office Staff Payroll
CEO Salary $91,708.00 COO Salary $75,711.00 IRA Contributions $7,567.00 Salary Office Staff $98,339.00 Casual Labor $4,200.00 Payroll Tax $21,175.00 Annual Bonus $5,200.00 Recertification $6,000.00 General Expenses Total $740,765.00
ASSETS
Land & Building $470,000.00 Inventory $1,300.00 Hotel Deposits $1,800.00
Total $473,100.00
ACCOUNT BALANCES - detail
as of 9/30/200910
as of 9/30/2010
Checking FLORIDA BANK LAND to be closed $3,003.39
$0.00
FLORIDA BANK OPERATING to be closed $114,696.62
$0.00
BB&T-Operating Checking $0.00
$251,778.80
BB&T Interest Checking $0.00
$10,049.66
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as of 9/30/09
as of 9/30/10
Savings FLORIDA BANK MM $4,644.11
$0.00
BB&T Money Market Savings $0.00
$300.15
PRIME MERIDIAN SAVINGS $0.00
$1,006.08
PRIME MERIDIAN RELIEF FUND $0.00
$14,521.00
Total Bank Funds $122,344.12
$277,655.69
Prime Meridian Line of Credit $0.00
$0.00
TOTAL $122,344.12
$277,655.69
ACCOUNT BALANCES - summary
as of 9/30/2009
as of 9/30/2010
Checking $117,700.01
$251,778.80
Interest Checking $0.00
$10,049.66
Savings $4,644.11
$15,827.23
Total Bank Funds $122,344.12
$277,655.69
Prime Meridian Line of Credit $0.00
$0.00
TOTAL $122,344.12
$277,655.69
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CONSULTANTS
Educational: $56,712.00
This is a base amount. We pay lodging, travel and any extra projects he might be
asked to perform.
Base covers:
Two FPPTA Schools
Education Committee
New York CPPT CEU trip
Annual Conference
Creation of Agendas
Incorporation with COO Kim Ryals, plus
Maintaining the speaker rotation
E-newsletter
Media: $6,000.00
Runs Town Hall Meetings
Speaks at FPPTA schools and conferences
Represents FPPTA in the assistance of local pension systems
Keeps FPPTA CEO informed of situations in Florida pertaining to Defined
Benefit systems, and
Creates informational papers such as 401K report
Receives travel, expenses and lodging.
Public Relations: $10,200.00
Creates and maintains Faces of Florida,
Creates OpEd articles,
Maintains contact with news media on behalf of FPPTA,
Has created personal contact with the newspaper columnists and editors,
Speaks at FPPTA schools and conferences,
Assists on behalf of the local pension systems with articles on local issues,
and
Works on special projects such as Town Hall meetings.
Receives lodging, travel and expenses.
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Expenses vs. Total
Building Mortgage & Maintenance
4%Postage
2%
Wages29%
Benefits2%
Social Security2%
Printing3%
Insurance(minus health),
2%Equipment leasing3%
Lodging5%
Travel2%
Food46%
Expenses vs. Total
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Total Income $1,556,469
Total Expense $1,383,184
Excess $ 173,285
We know we will receive the approved
refund, but it may not be before the first of
the year.
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Positive factors
1. Increased memberships
2. Increased fees
3. Increased attendance
4. Reduced hotel prices
5. Hired consultants, not employees
6. Reduced speaker costs
7. Decreased printing and paper costs
8. Reduced shipping costs
9. Reduced outside printing
10. Increasing exposition area
11. Investing in data processing
12. Increased contact and flow of information with members
13. Decrease in sales and property tax
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Negative Factors
1. Air fares
2. Monitoring legislative activity
3. Town Hall meetings
4. Defending Defined Benefit systems against the League of Cities and
City management
5. Cost of electricity
6. Insurance costs
7. Decrease in bank interest
8. Increases in services to members
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