[Eg-oversight-board] Revised conference budget

[Ben Hyman]

+1 also
On Dec 19, 2014, at 12:01 PM, Ben Shum <bshum at biblio.org> wrote:

> +1
> 
> Sent from my LG G2
> 
> On Dec 19, 2014 2:39 PM, "Grace Dunbar" <gdunbar at esilibrary.com> wrote:
> I second Kathy's motion to accept the proposed budget revision with her proposed change to modify registration fees to be set at $200 (early bird) and $250 (regular).
> 
> Grace
> 
> On Fri, Dec 19, 2014 at 2:04 PM, Kathy Lussier <klussier at masslnc.org> wrote:
> 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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Ben Hyman 
Executive Director | BC Libraries Cooperative
ben.hyman at bc.libraries.coop | 1.855.383.5761 ext 1001 | cell: 250.889.2738
bc.libraries.coop | Twitter: @BCLibrariesCoop

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