CSBE-SCGAB
Monday, 25 March 2013 11:33

Treasurer (interim) report - Winter 2013

The society continues to run its yearly operating budget at a deficit. The deficit this year is forecast to be $36,000 on an operating budget of $102,000. This includes an extraordinary item of $20,000 for a membership retention study. The previous year’s deficit was $20,000 and the 2013 budget deficit is forecast to be $23,000. With banked cash reserves expected to be $114,000 at the end of this year it is time to consider ideas such as increased membership dues and AGM registration fees as well as tighten control on expenses. Not only is it prudent to ensure that we have at least one year operating expenses in reserve, at this cash burn rate we could only continue deficits of this size for 4 more years before ceasing to be a viable organization.

There are two areas council is looking at, cost cutting and increased revenues. Council has appointed a subcommittee to investigate this (John Morgan, Ron MacDonald, and Qiang Zhang) to determine where savings can be made in the immediate and long term. Revenues can also be increased and this too is being examined. Annual dues and AGM registration fees were examined closely by council at the last meeting to see what should be done to help stem the fiscal loss.

1) The CSBE portion of your annual Membership dues as outlined below: currently produce revenue of $20,000. Following the motion at the 2012 AGM to increase fees by 50%, council will, at its next meeting, consider a motion to raise annual dues by 50% as outlined in the adjacent table, for the 2014 fiscal year taking membership fee revenue to near $28,000. Note that the fees will remain unchanged for the current 2013 fiscal year as ASABE has already sent out the fee notices. This $8000 will pare the deficit down to $15,000, so additional work is required and soon. Student fees and grad student fees will remain unchanged so long as they are paid by CSBE and the CSBE Foundation. (ASABE finds themselves in a similar state and will also be increasing their fees (from a full member baseline of $130) resulting in a combined 2014 membership fee that will be bigger than your current expenditure.)

Age Group

2012 – 2013

2013 – 2014 proposed

Age 34 and under

$52

$78

Age 35 to 64

$63

$94

Age 65 to 74

$31

$46

Age 75 and up

0

 

Emeritus 65 to 74

2

2

 

2) AGM revenues are the Society's other main source of income, and Council is investigating increased registration fees, videotaping of sessions for sale and other methods to address the deficit issue. Based on increased dues the CSBE AGM profit will need to be close to a forecast $15,000 each year - This will be difficult in years where there is a joint ASABE AGM event.

The combined effect of these measures will bring the CSBE-SCGAB into a closer to sustainable financial position for 2014 by arresting the cash burn rate from past years. Cash flow Trend with both increased dues and increased revenue from AGM.

Fiscal year

2011

2012

2013

2014

Income

$89,482

$65,590

$72,023

$92,393

Expenses

$109,137

$105,835

$91,114

$88,614

Revenues less Expenses

($19,655)

($40,245)

($19,090)

$3,779

Assets as year end Cash

$150,748

$110,502

$91,412

$95,191

Expenses have increased marginally from year to year with new expenses appearing with the migration to a more current and secure electronic web media presence while revenue from older technology publishing has diminished. The Council is doing their best to keep up with developments. The detailed cash flow spreadsheet is available as an attachment. Should anyone wish to discuss this with me please email me at This email address is being protected from spambots. You need JavaScript enabled to view it.." style="line-height: 1.3em;">This email address is being protected from spambots. You need JavaScript enabled to view it.. - We're always open to better ideas.

Download the Financial 2014 Projection (PDF)

Read 4910 times Last modified on Monday, 25 March 2013 11:57
John Morgan

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