2024 Budget Approved

The work of the finance committee has helped shape the budget for 2024. With an overall vote of three “yea’s” and three members abstaining, the chairperson signed the budget adoption, today, Wednesday, November 29, 2023. We have an expected increase in spending with anticipation of increased revenue generating activities, including the opening of a business under the hospitality sector.  Budget highlights include: 

• Increased income generating activities such as offering loans, income tax preparation and contracted services.

• Increased expenses including on hand inventory, committee activities and marketing.

• Implementation of a chairperson package, which includes a summary cover page, fund request form and metrics report.

• Implementation of committee quarterly reporting requirement to understand when committees are meeting, what activities are being conducted and funding needs.

We will continue to have discussions regarding financial policy and/or procedures. The approval of income generating activities is not the final step to action. Additional work to implement the activities will take place over the course of several months. We will address the possibility of changing bank accounts with Bank of America, providing $360.00 in fee reductions to members and adding available resources to the budget. 

I would like to thank the finance committee members who:

• showed up

• took time to read the documents and

• voted on the operating budget. 

We will continue to use resources with care, develop revenue streams and reinforce policies/procedures reflective of the organization’s current needs with anticipated growth in mind.