Treasurer reviews 2014 and proposed 2015 budget

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Greetings Members of the HB FOL leadership team.
3/25/15 Board Meeting
"TO FILE"
I just learned that the 1st 2015 Business meeting will be held on March 25th. Unfortunately, I will be traveling/working back East that week as well as the week before and after.
Therefore, am providing the following materials in advance so they can be reviewed now and then be included as part
of the meeting minutes:
1. 2014 Final Financial Summary (see attachment: HB_FOL_Financials_2014_Final_Actuals&Budget, tab "Overall Summary_2014")
2. 2015 1st Qtr Interim Financials (see attachment:
HB_FOL_Financials_2015_1st_Qtr_Actuals&Budget_20150312, tab "Ledger_2015")
3. Resend of the proposed 2015 Budget/ Plan (see attachment
HB_FOL_Financials_2015_Plan_Budget_20150201, tab "Plan_Budget_2015")
4. 2014 Treasurer's Final Summary Report (see text below)
5. 2015 Treasurer's 1st Qtr Interim Financial Report (see text below)
Please let me know if you have any questions either before or after the business meeting. Cheers
George
2014 Treasurer's Final Summary Report
We ended the year with Revenues almost equal to our Operating Plan/Budget (Actuals $21,314.04 versus Plan
$21,700.00) and Expenses greater than our Operating Plan/Budget (Actuals $18,667.73 versus Plan $16,760.00) by
approximately $1900. The net result was a positive change in our Operating Budget - Revenues exceeding Expenses
by ~$2500. It should be noted that this positive excess was primarily due to the Gazin family donation of $2500
received in December. The Gazins have been extremely generous over the years.
Our 2014 financial oerformance reflects a good balance between revenue and expenses and continues to validate
the Look Ahead Budget approach we've been using for the last 3 years. We remain aware of the "typical, expected"
Revenues and Expenses and have avoided any unexpected surprises to date. In fact, we have been able to work with
the HB Library staff and accommodate every request from the Library for financial support.
Kudos to everyone for all their hard work and effort keeping the bookshelves stocked and the books selling.
2015 Treasurer's 1st Qtr Interim Financial Report
We are a little over 2 months into the 2015 Financial year and there are no surprises to date with the possible
exception that Revenues (~$4500) greatly exceed Expenses (~$400) so far this quarter/ year. I consider this a short
term impact/ variance and feel that the two Budget categories will come back in line over the next several months. Also,
because this is only a partial reporting period, this discussion only refers to Item 2 above, specifically the Ledger_2015
tab. The ledger entries have not been summarized because we are only in the middle of the reporting period. Once the
1st Qtr 2015 is completed, I will summarize the financials, prepare the Interim Operations Summary, and send out an
updated Report.
Finally, it should be noted that the 2015 Interim Revenues include an unplanned/unexpected $500 donation from
Athens Services. We need to send Athens an Acknowledgement and Thankyou for their generosity and community
support.
----Original Message----.
From: grceman <grceman@aol.com>
To: robert.luthardt robert.luthardt@verizon.net; cc. Lawson <cc. Lawson@verizon.net; dndyost
<dndyost@verizon.net; lillulu57 <lillulu57@aol.com>; koss.gab <koss.gab@verizon.net; gillian.2020
<gillian.2020@yahoo.com>
Cc: grceman <grceman@aol.com>
Sent: Sun, Feb 1, 2015 11:53 pm
Subject: HB FOL Proposed Budget for 2015
Hi Bob, Carol, Dorothy, Diane, Gabor and Gillian
Hope all is well and the New Year is treating you kindly. I've been traveling a lot for work and pleasure lately, so l
haven't been in the Bookstore much during the week and have missed seeing most of you. Regardless, the Treasurer
duties are getting attended to on a regular basis.

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In fact, I would like some feedback on the attached budget for 2015 that I recently completed. Please look at the
Tab/Worksheet titled "Plan_Budget_2015, " and specifically Column I on the spreadsheet.
In order to generate this year's Revenue and Expenses, I basically leveraged the Budget and Actuals data from last
year (included in the Excel file, see Tab titled "Overall Summary_2014") using the perspective gained from all the with
the previous years.
For 2014, please note we ended the year with a positive change in our Operating Budget - Revenues exceeded
Expenses by ~$2500 primarily due to the Gazin family donation received in December. The Gazins have been
extremely generous over the years.
I am on the road again this week (working back East), but I look forward to any email feedback to the Budget
Alternately you can call my cell phone (310 379-5600) and leave me a message. Ill try to call you back as soon as
possible.
Cheers
George
PS I injured myself skiing in Idaho two weeks ago. Broken right collarbone and torn rotator cuff in my left shoulder.
Fortunately I can still walk and talk and use my hands to type on a keyboard. Let the healing begin!