Budget Detail

This page is used to provide a historical record of discussion and changes in annual budgets.  To see approved budget, check out drop-down box for “Budget – Approved” link.

2019-20 Draft Budget – Revised 5/10/19
LG Soropt General Fund Budget 2019-20 Draft (2019_05_10)
LG Soropt Service Fund Budget 2019_20 Draft (2019_05_10)

Above are the budget drafts for the upcoming 2019-20 club year revised after April & May Club Meetings
General fund:
1) Dues income projected from members is $100.25 – $25 subsidy = $75.25
2) Dues subsidy will come from OCF distributions of both funds, Di’s conversation with Val at OCF estimates approximate $2500 available for distribution.
3) New Director’s and Officer insurance added at $260 per year through the SIA program.
4). Added $420 to budget for Quickbooks on-line subscription for 2 to 3 people.
5) Income from met profit of FOT and June Breakfast increased from 10 to 12%.
Service fund:
1) Left FOT projected income at $70,000.  We saw that significant drop on purchases at the Gala so am hedging the projection for possibly another reduction.
2) Expenses for the FOT have increased.   Added a fee for the possibility of the need for additional liability insurance.  Noticed that the previous carrier wanted additional coverage, and I suspect additional monies, should an event be more than 24 hours.  So with the Festival, it might be necessary for additional insurance.
3) Admin fee increased to 12% on both net profit from FOT and June Breakfast
4) Transferred Ruby award budget line of $500 to the Dream It Be It budget line now totally $1150.
Dues:  Here is the anticipated costs per member that LG Soroptimist will be paying out for our inclusion into the organization:
International Dues (Increased $5/yr to $9/yr)               $ 9.00
Federation Dues (Est of increase $74/yr to $76/yr) .     76.00
Regional                                                                                             9.25
Liability Insurance (Increased $5/yr to $6/yr                     6.00

Total:                                                                                            $100.25

A club can not function without its members.  During 2018-19 we saw 3 prospective members not join because of the dues of $95 per year.  Board explored alternatives for subsidy of dues and it was determined that utilization of the OCF available distribution will allow a subsidy of $25 per member for the 2019-20 dues.  Soroptimist club members voted on this at their 5/9/19 business meeting and it was approved.  Club members were given the option to pay the full $100.25 if they so desired but not required.