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Budget FY 2014

Budget FY 2014

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Budget FY 2014

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  1. Budget FY 2014 Kim Rupert, CPCM, CFCM, Fellow Tysons Corner, Virginia March 23, 2013

  2. General Assumptions 58% of Revenues Moderate to High or High Risk • Economic uncertainty remains – federal procurement budget in decline. • Severe Government constraints on conference attendance and travel • Income from all advertisement accounts continue to be at risk. • No significant new revenue streams per se, although Mid-Year leadership conference reconfigured to focus on small business. • Budgeted surplus from operations is 1.0% (FY13 EAC prepared in January 2013 is -1.8%, FY12 Actual was 8.09%). • Excluding WC Nashville credit/concessions – Budgeted Loss from Operations is -1.5%

  3. General Assumptions • Assumes no net revenue from investments (although growth is possible).

  4. Revenue Assumptions • Revenue decrease over FY13 EAC prepared as of January 2013 is 7.1%. • (13.2% decrease on FY13 budget) • Membership -1.5% • Individuals, Groups, Pro Vita • Education -4.1% • NES, E-learning, Virtual Conferences, partially offset by Webinars • Advertising -4.8% • Resource Guide, CM Magazine, partially offset by higher Corporate Sponsorship • Certification -1.2% • CPCM, CFCM, partially offset by ICCM and Exam Fees • Meetings -16.6% • World Congress, GCMC, March Education/ADTF and Career Fairs

  5. Changes from FY2013 Meetings/Component Relations Refocus of ADTF (ADC) to March Education Conference Small Business Conference to be held in lieu of Mid-Year Leadership Conference – now discontinued Addition of two Chapter Training Conferences at GCMC and March Education Conference Leadership Summit increased from 2.5 hours to 1.5 days – remains paired with WC Advertising Resource Guide switching from print to digital Education CMLDP Program suspended for FY 14

  6. Changes from FY2013 Certification Industry Certification in Contract Management - Defense Industry Certification in Contract Management - Federal (Launched in January 2013) Staff changes Staff reduced by three in February 2013 (FY 13) affecting IT, Marketing and Creative Services Transfer of Funds Budget includes transfer of $25,000 to Building Fund but NO transfer to Restricted Funds.

  7. Salaries and benefits as % of revenueASAE Operating Ratio Report – 2010 Data (Latest Available)

  8. Number of employees (FTE’s)ASAE Operating Ratio Report – 2010 Data –(Latest Available)

  9. Revenue per employeeASAE Operating Ratio Report – 2010 Data (Latest Available)

  10. Revenue

  11. Expenses

  12. Summary FY 14 Net Income % is 1.0% - FY EAC Net Loss % is (1.8%). FY 12 Actual was 8.1% Margins affected by World Congress penalties and concessions

  13. Costs incurred by cancellation of Pasadena contracts Hilton Hotel 79,406 Westin Hotel 34,000 Pasadena Convention Center 16,638 Sheraton Hotel 7,146 Total 137,190 All the above amounts have been agreed with the third parties with the exception the Pasadena Convention Center, who are claiming an additional $49,916 which would raise the cost to $187,106. NCMA and their third party advisors (Conference Direct) believe the claim has no basis. WC July 2013 Conference Financial Effect of Move from Pasadena to Nashville – Penalties – FY 13 Expense

  14. Credits/Concessions from Gaylord Opryland Room block credit – based on current budget 125,000 Other credits – audio visual, marketing etc. 28,300 Total 153,300 This compares to cancellation costs of $137,190 to $187,106 depending on the Convention Center settlement. The budget assumes a 24% reduction in paid attendees from FY 13. The room block credit is on a sliding scale but the buffer between the budget and number negotiated means that the credit does not drop to next tier ($100K) until reduction is approximately 60%. Not quantified for here are any attendees who attend Nashville but may not have attended Pasadena because of travel/location etc. In addition Gaylord is providing many concessions/credits directly to attendees. WC July 2013 Conference Financial Effect of Move fromPasadena to Nashville – Credits/Concessions – FY 14 Credit

  15. Operating Cash and Reserve Management • Cash on hand • Operating Cash Balance as of 3/19/13 - $1.66m • Line of Credit – Unused - $250K • Reserves • Total investments as of 3/18/13 - $2.85 million • Planned contribution of $100k to reserves in FY 13 (June) – Previous Transfers • FY 12 $100K, FY 11 $300K, FY 10 $100K • FY 14 Budget incorporates • NO transfer to Restricted Reserves. • $25,000 transfer to Building Fund – (Unrestricted Reserves)