Below is the proposed 2020 Budget for the Quilters by the Sea Guild. In a week you will receive a Survey Monkey email asking you to VOTE to Approve (Yes or No) this budget. If you vote No there will be a comment box where you can tell us why. As mentioned at our October Guild meeting, in order to have a balanced budget we anticipate a shortfall of $3,657 in expenses above the projected income. In the Survey Monkey email (below the questions mentioned above) there will be a multiple choice question where you will be able to vote on ONE of three alternative ways to meet this shortfall. Those three options are listed at the bottom of this page. If you have questions or comments about the proposed budget or the voting procedure, please go to the Contact Us page and fill out and submit the form. The email you send to us will be answered promptly by the appropriate person.
Proposed 2020 Budget
POINTS TO NOTE
- Added to the budget as income source: Investments (e.g. CD investments this year)
- Removed from the Budget as an income source: Annual Quilt Raffle (action taken by Guild vote)
- Removed as operating expense: Storage Unit (eliminated); Annual Raffle Quilt (no raffle quilt, no quilting cost); Computer Software (no longer needed); Board Meeting Room (we are using no-cost options)
- Added to budget as operating expense: Programs $1000 (to allow our VP to bring in speakers for Guild meeting programs)
- Retained Operating Expense of Grants to Charities (other then Neo-Natal; done by application, approval and Guild vote)
- Website Maintenance costs increased from $150 to a projected $1000 (due to requirements to support new, secure website)
- Projected shortfall for 2020 is $3657.00
As set up, our 2020 budget will see a shortfall of funds approximating $3657. Options to cover the shortfall are:
- Cover the shortfall with monies within the Guild account. The Guild currently holds approximately $40,000 between our operating account and the invested CD. We are close to the established ceiling for a non-profit. Also, as mentioned in the Guild meeting (10/21/19) much of the money came from holding symposiums years ago and that money was intended to be used for the education and enrichment programs and workshops for the membership; to provide them and defray costs.
- Increase our annual membership dues from $25 to $40 (adds approximately $3000 to the membership income stream; the additional $657 needed to cover the shortfall could be seen as budget fluctuation).
- Increase the fees for the workshops to recover the complete cost of providing the workshop. This could raise the cost of some workshops to $50 or more per person.