Home › Forums › FTH PRIVATE Board Forum › REMINDER, BOD meeting. 10/8/20 NOTE change of date! › Reply To: REMINDER, BOD meeting. 10/8/20 NOTE change of date!
Sorry to be posting this so late. I wanted to have the budget for next year completed and prepped for review at the meeting, but it will have to wait until next month as there were a couple of expenses to be confirmed.
There is one month to the end of the fiscal year. Currently, there are 8 renewals in October and two remaining speakers to be paid. We will finish 2020 in a loss position. It is not as large as predicted, but only because we did not have an additional webinar in 2020 or the meet up at Nationals.
Even though we projected a substantial decrease in membership renewals, it was even deeper than expected. Our renewals were less than half of what was forecasted. Contest entry income was also below projections, and the projection had been reduced due to last year’s entry income being below the previous year.
Based on all that, I’m trying to construct a budget where our income will support our operating expenses. FTHRW is in a very strong cash position and we can absorb this loss. However, we also want to be sure that our income is not consistently exceeded by our expenses.
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