Proposed Budget FY-2023
FY-2023 (12/01/2022 – 11/30/2023)
| Name of Expense | Proposed 2023 Budget | Approved 2022 Budget | $ Variance | % Variance |
| Salaries & Benefits | 18,858,188 | 15,922,245 | 2,935,943 | 18% [A] |
| Temporary Help | 20,000 | 16,000 | 4,000 | 25% |
| Internship | 120,000 | 120,000 | - | 0% |
| Employee Relations | 223,372 | 172,700 | 50,672 | 29% |
| Rent | 736,800 | 1,031,100 | (294,300) | (29%) [C] |
| Insurance | 200,000 | 168,000 | 32,000 | 19% |
| Taxes | 20,000 | 6,000 | 14,000 | 233% |
| Telecom | 462,900 | 538,620 | (75,720) | (14%) [D] |
| Supplies | 400,500 | 279,000 | 121,500 | 44% [A] |
| Postage and Delivery | 60,000 | 60,000 | - | - |
| Printing and Reproduction | 34,500 | 30,500 | 4,000 | 13% |
| Travel | 393,851 | 381,350 | 12,501 | 3% |
| Events | 370,000 | 321,500 | 48,500 | 15% [Projects] |
| Equipment Rental | 80,004 | 72,000 | 8,004 | 11% |
| Computing & Network | 491,400 | 150,000 | 341,400 | 228% [E] |
| Document Management | 40,000 | 42,000 | (2,000) | (5%) |
| Professional Services | ||||
| Lobbying Fees | 60,000 | 60,000 | - | - |
| Legal | 200,000 | 190,000 | 10,000 | 5% |
| Staffing | 37,500 | 36,000 | 1,500 | 4% |
| Accounting Services | 100,000 | 166,667 | (66,667) | (40%) |
| Evaluation & Fees | 49,500 | 70,000 | (20,500) | (29%) |
| Media | 150,000 | 68,800 | 81,200 | 118% |
| Software Support & Maintenance | 1,100,000 | 1,180,000 | (80,000) | (7%) [Projects] |
| Professional Development | 349,158 | 336,079 | 13,079 | 4% |
| Contributions | 140,000 | 120,000 | 20,000 | 17% |
| Dues and Subscriptions | 177,108 | 201,108 | (24,000) | (12%) |
| Membership Engagement | 250,000 | 220,344 | 29,656 | 13% |
| Miscellaneous | 50,000 | 70,000 | (20,000) | (29%) [B] |
| Bank Service Charges | 42,000 | 71,200 | (29,200) | (41%) |
| Interest Expense | 504 | 16,500 | (15,996) | (97%) |
| Total Operating Expenses | 25,217,285 | 22,117,713 | 3,099,572 | 14% |
| Capital Expenditures | Proposed 2023 Budget | Approved 2022 Budget | $ Variance | % Variance |
||||||
| Admin | CRM V2.0 | 150,000 | 900,000 | (750,000) | ||||||
| EDC | SLA Learning Center Diversification Enhancements | - | 170,000 | (170,000) | ||||||
| EDC | Learning Center enhancements and SLA University | 100,000 | - | 100,000 | ||||||
| IT | MFA (Multi Factor Authentication) | 100,000 | - | 100,000 | ||||||
| DC | Website redesign and prototype | 50,000 | - | 50,000 | ||||||
| DA | SLA Data Analytics 2.0 | - | 50,000 | (50,000) | ||||||
| Total Project Sheets - Non OpEx | 400,000 | 1,120,000 | (870,000) | (78%) | ||||||
| Total Budget Spend | 25,663,724 | 23,237,713 | 2,276,011 | 10% |
[A] 11 new hires totalling $1.1m (and related new computers/desks). Health Benefits increased 12% YoY. Inflation wage adjustments.
[B] Miscellaneous category is capital purchases for digital communications.
[C] Closing of SF office provides cost relief in current year.
[D] Improved rates and cancelling older, no longer used, contracts.
[E] New annual CRM License and off-site disaster recovery
Project Review
| Project | Estimate | Description |
| Learning Center enhancements and SLA University | 100,000 | SLA University Research and Discovery, LMS Replacement Research and Discovery, Learning Center Enhancements |
| CRM Phase 2 and 3 | 150,000 | CRM Phase 2 and Phase 3 - Enhancements, Reports and Dashboards |
| MFA (Multi Factor Authentication) | 100,000 | MFA Phase 1 (RAPID and system login) and Phase 2 (SLIP) |
| Website resedign and prototype | 50,000 | SLA Website Redesign – Design and Prototyping |
| Policy & Training CAS Enhancements | 50,000 | RAPID Enhancements, FY22 projects will be addressed in FY23 |
| Compliance - Learning Center Enhancements | 100,000 | Learning center enhancements - Compliance connections, Resources like Tutorials, Filing requirements and procedures, FAQs |
| Compliance CAS Enhancements | 200,000 | New Member Wizard/portal, License import - NIPR/Sircon, Ad-hoc requests |
| Financial CAS & Other Enhancements | 100,000 | SSR Log/Company Assignment Tracking IID Financial Statement Import Not Eligible/At Risk Indicator |
| Data Analysis CAS Enhancements | 150,000 | RAPID Enhancements, Broker Segmentation, SL Form Redesign (depends on Legal Compliance) and Ad-hoc requests |
| SLIP Enhancements | 100,000 | SLIP bug fixes, enhancements, adding new features identified by DA, CO, IT, and feedback from Brokers. Includes changes/enhancements to XML/AMS |
| CAS General Software & Hardware Support | 200,000 | AWS infrastructure maintenance, software and hardware upgrades, Database upgrades, deployments, and daily support and maintenance. |
| Reporting Enhancements | 50,000 | Supporting reporting requests from all departments |
| Analytics | 100,000 | SLA Internal Analytics, Website Industry Reports, and Broker specific Analytics updates and enhancements. |
| Website support & maintenance/board meeting microsite | 50,000 | Board Packet Microsite, Website support & maintenance |
| Total Estimate | 1,500,000 |
Expenses Glossary
| Salaries & Benefits | Gross salaries, payroll taxes, health benefits, retiree insurance, 401(K) safe harbor contribution, incentives |
| Temporary Help | Admin temp help coverage over the year |
| Internship | Intern program designed to encourage and introduce young adults into the insurance industry |
| Employee Relations | Wellness, Employee luncheons, town halls, team building events, holiday party, summer outing |
| Rent | BR, Utilities, Office maint., housing for contractors |
| Insurance | GL, Property, D & O, DIC, EQ, Umbrella, Cyber, Travel & Accident, Crime, WC & EE |
| Taxes | BR property taxes, employer tax on transportation benefits |
| Telecom | Phone/Fax, Broadband, Hosting and Support fees |
| Supplies | Plants, First Aid, Office flowers, Office supplies, Computer supplies, Office snacks |
| Postage and Delivery | Postage, FedEx |
| Printing and Reproduction | Printing for brochures and newsletters |
| Travel | Employee and Committee travel costs, Lloyds of London Travel |
| Events | Local business meals, board meals |
| Equipment Rental | Printers, Postage machines |
| Computing & Network | Hardware and Software licenses and maintenance, Computing equipment repairs and maintenance |
| Document Management | DataSafe storage, deconstruction, library maint. |
| Professional Services | |
| Lobbying Fees | Norwood for California |
| Legal | Contract review, regulation conformance, and labor disputes |
| Staffing | Head hunter fees, personnel contract buyouts, recruitment fees |
| Accounting Services | Hood & Strong |
| Evaluation & Fees | Patrick Powers Photographer, Jazz Business Consulting, Triennial audit |
| Media | Expand the digital outreach of the SLA. |
| Software Support & Maintenance | Internal projects |
| Professional Development | Training and Education, Conference registrations |
| Contributions | USC, EIP, Cal State Fullerton, UCD, IICF, CIWA, WSIA Foundation |
| Dues and Subscriptions | Subscription and fees for services, publishing, memberships |
| Membership Engagement | CE course expenses, Promotional items, Advertisement |
| Miscellaneous | Miscellaneous items purchased |
| Bank Service Charges | Bank fees for investments, payroll processing, and PayPal |
| Interest Expense | Charges for revolving line of credit |