[Eg-oversight-board] Revised conference budget

[Kathy Lussier]

Hi all,

I did some squashing of numbers and found that if we lower the 
conference fees to 200 and 250, we show a projected net income of 
$6,410. Even if registration goes down to 160, there's projected income 
of $3,608. My preference is to lower the registration fee in the 
interest of making the conference a bit more affordable period, 
especially seeing as we most likely will have a shortened early bird period.

I'll make a motion to accept the proposed budget revision with the 
following change: a modified registration fees  set at $200 (early bird) 
and $250 (regular).

Kathy

Kathy Lussier
Project Coordinator
Massachusetts Library Network Cooperative
(508) 343-0128
klussier at masslnc.org
Twitter: http://www.twitter.com/kmlussier
#evergreen IRC: kmlussier

On 12/19/2014 12:21 PM, Buzzy Nielsen wrote:
> Hi everyone,
>
> I apologize that I missed yesterday's meeting. Kathy let me know that 
> the EOB has a traditional policy of wanting to approve conference 
> budget expenditures if they exceed 10% of the approved budget cost. As 
> it turns out, the room rental fees are higher than expected, currently 
> at about $4,250. Negotiating with this hotel has been different than 
> in previous years, as they're not as used to hosting conference as 
> most of the other venues that have hosted the conference in the past. 
> We anticipate having a contract done sometime next week.
>
> In light of this, and now being aware of the the policy on budget 
> overruns, I wanted to present a slightly revised budget. The idea 
> behind these revisions is to take away some of the elements that have 
> made previous conference budgets somewhat stressful, namely the food & 
> beverage minimum. I'm much more comfortable increasing some of the 
> fixed fees (space rental) so that we're not going to have to stress 
> about hitting particular attendance or buy food that's more expensive 
> or plentiful than we need. This is not, of course, to say that we 
> don't still want to have lots of attendees! However, we'll be on safer 
> financial footing by making the budget less dependent on changing 
> variables.
>
> All of the revisions are under the expenditure lines. They are as follows:
>
>   * Increasing budgeted facilities fees to $10,000, from $3,500. This
>     should cover all contingencies, including rental fees and other
>     facility-related costs. I don't anticipate the line item actually
>     being nearly this high.
>   * Eliminating the sit-down lunch and instead offering boxed lunches
>     as an option. The venue would prefer that we have a sit-down
>     lunch, but we would prefer not. To satisfy the hotel, we have
>     agreed to offer boxed lunches from the hotel as a registration
>     option. Therefore, there is still some money for lunches. These
>     boxed lunches would go toward our food & beverage minimum with the
>     venue.
>   * Eliminating the Internet line item of $8,000. Recent upgrades to
>     the venue's network make this line item unnecessary. The venue has
>     a connection of 100mbps download & 25mbps upload, with backup
>     capacity of equivalent bandwidth.
>   * Increasing equipment rental from $3,000 to $4,000, to provide more
>     of a buffer.
>   * Rounding up the three finance fees. In the approved budget, those
>     numbers were calculated by formula based on the relevant revenues
>     or expenditures. I rounded up these numbers to ensure compliance
>     with EOB policy.
>
>
> Given these revisions, the net profit from the conference is 
> anticipated to be $8,200, $3,000 higher than I previously budgeted. I 
> would appreciate the Board's insights into whether to decrease the 
> registration fees in light of this. As more of a numbers person, I 
> somewhat prefer to leave the fee as-is. However, I'm not sure whether 
> the Board has viewed the conference as a small revenue source to 
> support other Evergreen activities. The registration fee could 
> probably safely be lowered to $200 and $250 for early and regular 
> registration. Keeping the registration fee as-is, however, would help 
> if other sponsorship or exhibits revenue do not come in as anticipated.
>
> I'll be traveling today (Friday), but please feel free to ask me 
> questions. I can be reached via mobile at 971-270-0527.
>
> Cheers!
> Buzzy Nielsen
>
>
> ************************************
> Library Director
> Hood River County Library District
> 502 State Street
> Hood River, Oregon 97031
> 541-387-7062
> http://hoodriverlibrary.org
>
>
>
>
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