welcome!
DESCRIPTION
Welcome!. Meeting will begin at 9:15 am Agenda/documents at front of room Please enjoy some breakfast. Jonathan D. Mendelson ’97 FOTB Board President. FOTB Annual Meeting. Agenda. Call to order Year in Review Overcoming challenges Financial outlook Other business Endowment Adjourn. - PowerPoint PPT PresentationTRANSCRIPT
May 31, 2003
Welcome!
Meeting will begin at 9:15 am Agenda/documents at front of
room Please enjoy some breakfast
May 31, 2003
FOTB Annual Meeting
Jonathan D. Mendelson ’97FOTB Board President
May 31, 2003
Agenda
Call to order Year in Review
– Overcoming challenges– Financial outlook
Other business Endowment Adjourn
May 31, 2003
Call to Order
Select meeting secretary Establish quorum Elect president Review minutes from last year
May 31, 2003
Year in Review
Fundraising challenges Administrative/policy changes
May 31, 2003
Fundraising Challenges
Mailings were late FOTB database shut down Bureaucracy has increased
May 31, 2003
Mailing Frustrations
Typical mailing schedule– September: Appeal 1– December: Appeal 2– May : Reunions Announcement
Two mailings before end of tax year
Actual FY03 mailing schedule– September December– December February– May (unchanged)
May 31, 2003
Fundraising Results
Worst performance in five years Comparisons
– $3,953 below average– $5,691 below previous year
Explanations
1999 2000 2001 2002 200313,681$ 17,843$ 16,653$ 17,059$ 11,368$
May 31, 2003
FY2003 Financial Review
Books do not close until 6/30/03 Improvements in many areas
– Reduced expenditures due to debt– Minimal capital expenditures
Distortions– University income not in sync– Many expenses will not hit accounts
until late June or early July
Endowment income makes up for shortfalls
Awaiting Dean of Students Spring 2003 transfer
Description
INFLOWS
Gift (13,399.00) (16,959.00) (3,560.00) University (15,511.16) (11,574.22) 3,936.94 Other Income - (2,459.80) (2,459.80)
TOTAL INFLOWS (28,910.16) (30,993.02) (2,082.86)
PUB/FOTB Integrated Financial Details
May 31, 2003
FY2003 YTD FY2002 ChangeFavorable
Through 5/27/03 Final (Unfavorable)
Student reimbursements probably outstanding
Dining costs significantly exceed last year
Description
OUTFLOWS
Salary 7,225.50 6,427.30 (798.20) Advertising 579.54 1,117.21 537.67 Auto 479.32 1,694.38 1,215.06 Capex 647.75 5,858.21 5,210.46 Reimbursements 200.00 134.69 (65.31) Dining 4,958.31 3,239.97 (1,718.34) Office 14.65 957.04 942.39 Operations 581.84 2,313.22 1,731.38 Transportation 8,148.48 11,059.29 2,910.81 Utilities 3,650.55 3,975.73 325.18
TOTAL OUTFLOWS 26,485.94 36,777.04 10,291.10 TOTAL OUTFLOWS LESS CAPEX 25,838.19 30,918.83 5,080.64
Through 5/27/03 Final (Unfavorable)
FY2003 YTD FY2002 ChangeFavorable
2003 Net flows depend upon Reunions– Revenue from gigs– Expenses (Dead Week meals, rentals)
May achieve a break-even year
Description
TOTAL INFLOWS (28,910.16) (30,993.02) (2,082.86) TOTAL OUTFLOWS 26,485.94 36,777.04 10,291.10 TOTAL OUTFLOWS LESS CAPEX 25,838.19 30,918.83 5,080.64
NET OUTFLOW (INFLOW) (2,424.22) 5,784.02
NET OUTFLOW (INFLOW) LESS CAPEX (3,071.97) (74.19)
PUB/FOTB Integrated Financial Details
May 31, 2003
FY2003 YTD FY2002 ChangeFavorable
Through 5/27/03 Final (Unfavorable)
May 31, 2003
End-of-year Expenses
Reunions meals for undergraduates
FOTB Board Meeting Reunion tent and refreshments May Princeton Upbeat mailing Revenue from reunions gigs Spring 2003 University allocation
May 31, 2003
FY2003 Outlook
Goals for next year Undergraduate update
May 31, 2003
Undergraduate Update
May 31, 2003
PUB Endowment Update
Commitment– Began with $15,000 transfer– Recording Sec’y: $50,000 by
FY2003 5/27/03 book value:
$95,763.35 Earned income of over $3,500
May 31, 2003
Adjourn
Final comments/questions Set meeting date/time for next
year Today’s Band/FOTB Activities
– 11:30 a.m. Fred Fox ’39 Memorial Concert (Cannon Green)
– Post P-Rade Band Reunion (Fine Green)