How to split up expenses

[vine311]

At the meeting we are proposing a way to split up the expenses of AIC. Here is the proposal as it stands so far. I'm posting this now so that everyone can put in their 2 cents so we can vote next time.

1. Savings – 25%
2. advertising – 50%
3. operations - 10%
4. events - 5%
5. capital expenses - 3%
6. petty cash - 2%

Ready...FIGHT!

[kbadr]

What is savings reserved for, and when is it acceptable to dip into it?

[Evilpandabear]

1. Savings – 25%
2. advertising – 50%
3. operations - 10%
4. events - 5%
5. capital expenses - 3%
6. petty cash - 2%

Ready...FIGHT!

1. Savings – 25%
2. advertising – 50%
3. operations - 10%
4. events - 4%
5. capital expenses - 10%
6. petty cash - 1%

What is savings reserved for, and when is it acceptable to dip into it?

the idea of savings is that it can bleed into any of the categories, but you need substantial savings for that flexibility. we have some money, but it's not a lot. we need more money to do more exciting, worthwhile and effective things. saving that money allows it to build so that we can do these great things.

i think the current president works fine: all expenditures under $50 require a receipt of purchase & all purchases over $50 require the finance committee's approval.

[arclight]

What is savings reserved for, and when is it acceptable to dip into it?

My perception is that we're initially saving to build up a bankroll so we aren't living hand-to-mouth and have breathing room to create a budget. Longer term, I see it being used for larger capital purchases and major events (Wafflefest; hypothetically, co-sponsoring Out of Bounds, stuff like that.)

Erika knows all; I'm sure she'll address it more succintly when she gets the time.

[sara farr]

1. Savings – 25%
2. advertising – 50%
3. operations - 10%
4. events - 5%
5. capital expenses - 3%
6. petty cash - 2%

BUMP! I was worried not everyone would get a say on this before Sunday's meeting. So vote or deal with the consequences.

My vote:
1. Savings – 25%
2. advertising – 50%
3. operations - 10%
4. events - 10%
5. capital expenses - 3%
6. petty cash - 2%
(total = 100%)

[shando]

Maybe I'm just saying the same thing, but isn't this discussion about to what purposes we devote our revenue?

Also, what are our operational expenses? And What kind of capital expenses do we have? How are we defining these two terms?

And what defines an event? Is that like the prom? Or something else more elaborate?

[sara farr]

Maybe I'm just saying the same thing, but isn't this discussion about to what purposes we devote our revenue?

Also, what are our operational expenses? And What kind of capital expenses do we have? How are we defining these two terms?

And what defines an event? Is that like the prom? Or something else more elaborate?

Yes, we are trying to figure out what to do with our money so that we put it in the right place. The biggest demand right now on people wanting money is the Ad committee. Also we wanted to be able to host parties. Yes, events would include parties -- like prom -- but it could also include other kids of events that the AIC wanted to host (for whatever reason).

However, we know we need to save for large purchases, and we need some money to run our opperations -- to pay our house manager to clean house & manage our weekend shows, to have stuff available like Cagematch ballots, pencils, whiteboard markers, box office forms, print out free tickets/coupons, etc.

I think the diff between opperational costs and capitol expenses is that opperational costs include day to day stuff, and capitol expenses are defined as 1 time purchases.

I don't think we are currently tracking opperational/capitol expenses right now because everyone is spending money on the AIC voluntarily -- or asking for re-imbursment. HOWEVER we can't keep that up and there is money available, so we need to use that. Erika can talk more about this at our next (date?) meeting.

[shando]

Sounds cool. I would say that capital expenses is something that is more in line with something the Hideout should be spending money on if that's what we mean by capital. I don't think AIC should be spending money on the physical upkeep of a venue which has it's own revenue stream. My two cents.

If there is something other implied by the term capital that should be discussed.

[sara farr]

Sounds cool. I would say that capital expenses is something that is more in line with something the Hideout should be spending money on if that's what we mean by capital. I don't think AIC should be spending money on the physical upkeep of a venue which has it's own revenue stream. My two cents.

If there is something other implied by the term capital that should be discussed.

Yeah, we talked about that at the last meeting. I don't think we'd spend money on the venue stuff -- that's up to the Hideout, and Andy is taking care of those things (lights & tech equipment, cleaning supplies, stuff for bathrooms, etc).

I think the AIC capitol stuff might be things like the money-lock-box that I purchased. A one time purchase that will go with us if we ever change our "homebase" venue.

[shando]

Good thinking. See what I miss for not being at the last meeting.