I think it’s safe to assume our copying and promotion costs will be lower,
since we aren’t rehearsing or performing in the fall.
From: Michael Bell<mailto:mikekb@xxxxxxxxxxxxx>
Sent: Sunday, September 13, 2020 8:37 PM
To: acweboard@xxxxxxxxxxxxx<mailto:acweboard@xxxxxxxxxxxxx>
Subject: [acweboard] Re: City Funding and Budget
The fixed expenses of $5400 include library storage, insurance, PO Box rental
and the trailer registration.
The library storage is $204 a month, $2448 for the year.
mike
On Sun, Sep 13, 2020 at 8:17 PM Ellen Knapton
<eknapton@xxxxxxx<mailto:eknapton@xxxxxxx>> wrote:
Question is storage costs buried in your expenses projection?
Ellen
Sent from my iPhone
On Sep 13, 2020, at 7:09 PM, Michael Bell
<mikekb@xxxxxxxxxxxxx<mailto:mikekb@xxxxxxxxxxxxx>> wrote:
Hi All
For the TL/DR folks:
We should get $6279 from the city and around $6000 from other sources.
I currently project our 2020-2021 expenses at around $17,900.
That leaves us with around a $5600 projected deficit.
For the detail people:
Right now our funding allocation from the city is $6279. That is pending
approval of City Council. This is about what I was expecting. Our income from
other sources was also down considerably this past year and as things stand
now, that should be an indication of our income from other sources for the
coming year. It could be lower too. Our other income generally consists of
dues, donations and corporate matching. All of that is affected by us not
actively rehearsing and performing.
For 2020-2021 I am estimating our total income at around $12,300. We normally
operate on double that or more, typically around $24,000 to $28,000.
These are our expected expenses for 2020-2021:
Fixed Expenses (mainly library storage and insurance) $5400
Stipends :
Music Director $2500
Business Manager $1500
TCMF Director $500
Guests for virtual masterclasses $2000
Total Stipends $6500
Covenant $1500
Fed Ex (music copies, programs, fliers) $1500
TCMF Expenses $1000
Publicity and Marketing $2000
Total projected expenses: $17,900
That puts us at around a $5600 deficit. We can certainly look at bringing down
any of the expenses that are not fixed. We could also look into some
fundraising options. I am not sure where our savings stands now, but we could
probably draw on some of that. As bad as this past year was, we did have a
$1500 surplus. However, we had an approximately $6000 deficit the previous
year.
Assumed expenses we won’t have this year include:
No music purchases
No other venue rental
No instrument/equipment purchase or repair
No money toward social events or gifts
The city will be wanting a proposed 2020-2021 budget from us in a few weeks.
We also want to be looking at this in general to make sure we keep our finances
stable.
mike
