The Board of Directors presents the proposed budget for VAFRE’s 2010-2011 fiscal year for review and approval by the membership.
For a copy of the complete draft budget, click here. For detailed information on the assumptions used by the Budget Committee in drafting the budget, see below.
Revenue Assumptions
- Dues rates will remain unchanged. Dues revenue assumes 200 members paying $100 each and 30 members paying $50 each. Current membership is 231, and 41 members joined under the ½ price offer.
- The New Member Fee assumes 40 new members paying $10 each. As of the end of April this year, over 70 members have joined, including some who were previous members and thus did not owe the New Member Fee.
- Registration fees for regular meetings will increase slightly, from $18 to $20 for members and from $25 to $30 for guests. Recognizing that many member organizations send multiple registrants to an event, a new registration fee of $25 was created for nonmembers affiliated with a member organization.
- Member registration fees for the Awards Luncheon will remain at $30, and $50 for each of the two National Speaker programs. Guests will be charged $40 for the Mini-Masters Program and the Awards Luncheon, and $75 or $65 for each of the two National Speaker programs. The rate for nonmembers affiliated with a member organization has yet to be determined for these meetings, but will not exceed the guest fees.
- Prepaid registrations assumes 25 people at $235, the same rate as the current fiscal year. There are 33 people prepaid this year.
- The National Speaker programs in September and February as well as the Awards revenue assumptions ares based on the average revenue collected for these programs over the last two years.
- Regular monthly meetings assume total attendance of 90 people, including 19 prepaid members, 23 members at the regular rate, 22 nonmembers affiliated with a member organization and 26 guests. This is in line with current attendance averages.
- Sponsorship opportunities for monthly meetings are available. The money from sponsorships will go directly to educational programs and scholarships for current VAFRE members.
Expense Assumptions
- Brown Bag Lunch budget includes fees for CFRE certification and beverages for the participants.
- Lunch costs were based on the same attendance figures as noted above under revenue assumptions. Jefferson Lakeside Country Club has confirmed that the lunch pricing will remain the same for the coming year.
- The new event registration function with Constant Contact is budgeted in the line item labeled “email”.
- Print media includes funding for an ongoing print campaign with Style, including 4 ¼ page ads and 1 ½ page ad.
- Web-site Maintenance & Design includes funding for regular maintenance of the web site as well as the next phase of the site development; an expansion of the Members Only Resource page.
- Scholarship support is available to current VAFRE members for select programs and membership in VAFRE. The $399 budget request will combine with the $2101 set aside for scholarships, to bring the total available fund balance to $2500.
- Socials includes money to cover the cost of hors d’oeuvres for two or three VAFRE socials. The committee has planned on a cash bar for these functions.
- Audit/Accounting Fees does not include any funds, as a review of our books is only required every third year.
- Management Fee budget of $21,000 reflects no increase over the current fiscal year fee.
- There is a sufficient supply of stationary on hand, so no money has been budgeted.
Net Income
- Budgeted net income for the year is $3,019.
If you will be unable to attend the Annual Meeting on June 1st, please be sure to submit your proxy.
