AMS 2016-2017 Budget Reforecast

Prepared by VP Finance, Louis Retief

Who actually read the budget?

What revenue line items have changed? Business Revenues, Canadian Student Horizons Group

What changed on the President’s budget? Staff Appreciation($200) + Time Capsule Ceremony ($1200)

Which departments decreased their photocopy/admin exp? Student Service Manager ($100)

Which 2 department cut the most expenses in the reforecast? AMS Events ($11,473) + Senior Student Service($12,811)

Which departments under budgeted on a line item which has to be increased?

Exec Comm, VP Finance, Exec Director, Comms, AMS Events

Which Committee expenses were decreased? All of them

How much sponsorship money did first week raise? $95,300

What is our predicted surplus for end of the year? $557,1993

Reforecast Process • What is a Reforecast ?

• All departments were asked in January to reforecast budget.

• Deadline January 31st o On going Consultation Times

• Budget Committee Reviewed budget and approved February 9th

Revenues • Total Fees:

o $19,998,330.56

• Business Contribution o $1,089,097

• Investment Returns o $325,000

• Transfers from Fees o $210,571

• Total Revenue

o $21,622,998

92%

5%

2%

1%

3%

Revenue

Total Fees Business Contribution

Investments Transfer From Fees

Student Fees

9% 2%

3% 5% 0% 1%

23%

1% 0% 1% 0% 0% 0% 0% 1% 0% 0%

51%

2%

Sales

General Fee

CPF

Student Aid Bursary

Athletics & Intramural

Ombudsperson

SASC

Sub Renewal Building

WUSC

Resource Groups

Lighter Footprint

Discretionary Funds • Non-discretionary Allocation

o $18,102,855

• Net Discretionary o $2,501,343

• Transfers from Budget o $210,751

• Businesses o $1,089,097

• Investments o $325,000

• Administration o -$808,228

• Total Income

o $2,712,095

64%

20%

10%

6%

Sales

Net Discretionary Income Businesses

Investments Transfers From Funds

Expenditures • Total Student Government

o $119,739

• Total Executive Committee

o $604,694

• Total Student Services

o $378,656

• Senior Student Services

o 484,224

• AMS Events

o $268,604

• Contingency

o $125,067

• Total Expenditures

o $2,154,035

6%

19%

30% 26%

13%

6%

Sales

Student Government Student Services

Executive Committee Senior Student Services

AMS Events Contingency

Total Surplus

$561,281

Large Revenue Variances Description 16/17 Budgeted 16/17 Reforecast Justification

Business Contribution $638,814 $1,089,097 Keith is awesome

Canadian Student Horizons Group

$0 $21,196 Merit Travel Money

Large Expense Variances Decreases Description 16/17 Final Budgeted 16/17 Budget Reforecast Justification

Administration -$875,094

-$808,228

Keith is awesome

Student Government $128,743 $119,739 Committee Chairs, (Increase in Elections and Referenda)

President $64,039 63,039 Time Capsule

VP Finance $90,416 $87,438 Over budgeted

Student Services $384,576 $378,656 Tutoring, Foodbank, Volunteer Avenue, SSM

Executive Director $108,895 $83,016 Salary

Communications $253,985 $242,425 Salaries

AMS Events $161,347 $148,947 Conference and Official Business/Equipment

First Week $28,376 $5,496 Sponsorship

Block Party $62,568 $43,390 Tiered Tickets, Reduced Bank Costs

Large Expense Variance Increase

Description 16/17 Final Budgeted 16/17 Budget Reforecast Justification

WBBQ $28,391 $63,415 Low F&B Sales, Higher bank Cost

Farmade -$605 $7,356 Low ticket sales & Sponsorship revenue

Executive Committee $46,264 $53,274

Faculty Cup

Elections and Referenda $32,415 $39,695 Pay Clerks, Promotion

Summary • We are on a good track to finish the year off right

• Mainly thanks to our business doing really well and to all our

departments being fiscally responsible

• Once changes to Budget Committee are done • Council will receive quarterly reports on the society actuals

• Council will always receive a budget reforecast in February