Financial records · November 16, 2016
Third-quarter Treasurer highlights and investment deferral
Reports revenue below plan, lower Library spending, Seeger's $1,000 gift and continued deferral of investment allocation.
Text
Transcribed from the scans and checked against them by Claude. Typed text comes first; handwritten notes follow it. [illegible] marks words that cannot be read and [?] an uncertain reading.
Treasurer's Report - Nov 16, 2016 Business Meeting (Ceman)
2016 3rd Qtr Financial highlights (see accompanying spreadsheet for full details)
- Overall Revenues are ~10% lower than Plan/Budget) for three quarters with some "pluses and minuses" in specific revenue areas, e.g., Library Book Sales down, Monthly Sales down, Membership down, Bookstore Sales up, Donations up, Internet Sales on plan
- Recently rec'd a generous $1000 donation from Elaine Seeger
- Overall Expenses are well below Plan (~25% of Budget) for three quarters, dominated by lower than plan expenses for Adult/Children Books
Internet Sales
- Internet Sales process change in place. Josh now determines the value of the Books Taken (at the time they are taken), and remunerates FOL "on the spot" for that value. Internet Sales are basically on plan
Miscellaneous Items
- Financial Plan/Budget prepared using projections of Revenues/ Expenses through 3rd Qtr and tempered by past years performance. Library "Expense" allocations were reviewed with Ms Santos and her recommendations for some specific reallocations were incorporated. 2017 Highlights include
- 2017 Revenue projections down by ~10% as compared to 2016
- 2017 Expense projections down by ~10% as compared to 2016 including ~10% allocation to unknowns (aka Other or Margin)
Old Business
HB FOL Investment Accounts
- Long term Investment Account Assets/ Balance have remained steady for 2016. The planned investment of a portion of FOL assets into a combination of long term growth and mid term growth funds was further postponed due to continued Market volatility, e.g., the Presidential election campaign.
Handwritten notes
• (top margin) Nov 2016
• (top margin) To File
Show the original machine reading
Source scan page 21
Nov 2016 To File Treasurer's Report - Nov 16, 2016 Business Meeting (Ceman) 2016 3*d Qtr Financial highlights (see accompanying spreadsheet for full details) Overall Revenues are ~10% lower than Plan/Budget) for three quarters with some "pluses and minuses" in specific revenue areas, e.g., Library Book Sales down, Monthly Sales down, Membership down, Bookstore Sales up, Donations up, Internet Sales on plan Recently rec'd a generous $1000 donation from Elaine Seeger ? Overall Expenses are well below Plan (~25% of Budget) for three quarters, dominated by lower than plan expenses for Adult/Children Books Internet Sales Internet Sales process change in place. Josh now determines the value of the Books Taken (at the time they are taken), and remunerates FOL "on the spot" for that value. Internet Sales are basically on plan Miscellaneous Items Financial Plan/Budget prepared using projections of Revenues/ Expenses through 3d Qtr and tempered by past years performance. Library "Expense" allocations were reviewed with Ms Santos and her recommendations for some specific reallocations were incorporated. 2017 Highlights include ? 2017 Revenue projections down by ~10% as compared to 2016 ? 2017 Expense projections down by ~10% as compared to 2016 including ~10% allocation to unknowns (aka Other or Margin) Old Business HB FOL Investment Accounts ? Long term Investment Account Assets/ Balance have remained steady for 2016. The planned investment of a portion of FOL assets into a combination of long term growth and mid term growth funds was further postponed due to continued Market volatility, e.g., the Presidential election campaign.