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Finance Training 1.0
why are we here?
choose: greatness
POWERFUL CHOICES
Taking ResponsibilityKeeping Accountability
Welcome to AIESEC in the United States
let’s take a look
Cash Flow
What makes money in AIESEC?
Cash Flow
What makes money in AIESEC?
How much is each program?
Cash Flow
What makes money in AIESEC?
How much is each program?
When is our peak?
Local Committee
What is an LC consist of?
Local Committee
What is an LC consist of?
Who are the account managers?
Local Committee
What is an LC consist of?
Who are the account managers?
Where do you find information on an LC?
Expenses
What are our major expenses on the local level?
Expenses
What are our major expenses on the local level?
What are examples of expenses that are considered “Optional?”
DAILY YOU
MANAGINGINVESTINGTRACKING
LEARN BY DOING
BUDGETING
Split into a group of 3… 15’
You will create a budget for a NPMEstimated: 75 AttendeeLocation: In-door (1 plenary+2 breakout) Food: Yes (2 lunch, 2 dinner, 2 breakfast)Delegate Fee: $70
*National President Meeting (Presidents’ Retreat) is a weekend long event who’s goal is to have all the Presidents come together to be trained and decide
the direction of our national entity
Events Outcomes
On average every NPMS goes on a loss between $200-$500 dollars
…Poor planning…No tracking…Misunderstanding
Finance’s role is NOT passive
Identify Risks
Do you have what it takes to
run an LC?
Interesting and captivating details of the effect
Let’s see about that
Split into a group of 3 (Preferably not from your LC)
YOUR CHALLENGE IS TO RUN AN LCCan you ensure it becomes the most profitable in our entity?
Tools
You will be given...
Reality
Current Balance
List of Potential Expenses
Your RealityCity Population: 40,000 Student Population: 20,000LC Size: 43 (50% Conversion)Last Year Realization:
24 – oGCDP4 – oGIP
Current Balance: $250
But first…
Design Your Year
Come up with….
LC’s Name
This Year’s Goals (OGX, TMP)
10’
Limitations
Every company has issues…
$3000 in Affiliation Fee in end of April$9000 in Affiliation Fee in the end of October$1000 in Conference Closeout in end of February
No new activity in Late March and Late June(Finals + Spring Break)
Only may have max 2 recruitment
You will lose 25% of membership in June
You will have 25 minutes to emulate a year
You are to use your best judgment to purchase the right expenses for the year
In order to actually win, you must achieve all of your goals
You will receive the benefits after the lag time of the expense
Shopping List – Fixed CostCost Lag Time
Membership Induction $10 per new member
None
Outgoing Preparation Seminar $10 per EP NoneRegional Conferences $100 Per new
MemberNone
*Membership Induction must be during the week of recruitment*OPS will be the last week of May (Total number of Eps)*RoKS will be 3rd week of February
Shopping List – Optional CostCost Benefits Lag
TimeMarketing Round 1Tier 1
$100 15 EPs ($9000)12 Members
4 weeks
Marketing Round 1Tier 2
$200 20 EPs ($12000)15 Members
4 weeks
Marketing Round 1Tier 3
$250 25 EPs ($15000)20 Members
4 weeks
Membership Retreat $20 per Neglect Membership Loss/Raise Conversion to 75%
None
Y2B/Youthspeak $2000 15 Eps ($9000) 2 weeks
Marketing Round 2/3
$200 # EPs = 25% LC (Unaffected by Conversion)
2 weeks
IXP $100 per 1 EP for Summer +$500 per None
Some Help:National Support Fund is a budget of $2000 that is provided to the plenary as a support fund, in order to access this you MUST get all LC’s approval.
The idea for the project must be innovative.
What will this look like?
A timeline of 12 monthsSplit into weeks (4 weeks)
You will pay the affiliation fee on the last week of April and October
Conference Closeout on the end of February
Summary:
30’
Cost Lag TimeMembership Induction $10 per new member NoneOutgoing Preparation Seminar
$10 per EP None
Regional Conferences $100 Per new Member
None*Membership Induction must be during the week of recruitment*OPS will be the last week of May (Total number of Eps)*RoKS will be 3rd week of Februrary
Every company has issues…
$3000 in Affiliation Fee in end of April$9000 in Affiliation Fee in the end of October$1000 in Conference Closeout in end of February
No new activity in Late March and Late June(Finals + Spring Break)
Only may have max 2 recruitment
You will lose 25% of membership in June
Cost Benefits Lag Time
Marketing Round 1Tier 1
$100 15 EPs ($9000)12 Members
4 weeks
Marketing Round 1Tier 2
$200 20 EPs ($12000)15 Members
4 weeks
Marketing Round 1Tier 3
$250 25 EPs ($15000)20 Members
4 weeks
Membership Retreat $20 per Neglect Membership Loss/Raise Conversion to 75%
None
Y2B/Youthspeak $2000 15 Eps ($9000) 2 weeks
Marketing Round 2/3 $200 # EPs = 25% LC (Unaffected by Conversion)
2 weeks
IXP $100 per 1 EP for Summer +$500 per None
Jan Feb Mar Apr May Jun-25%
-1000 No Act -3000 No Act
Jul Aug Sep Oct Nov Dec
-9000
Summarize Timeline
Results
Debrief
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