{"id":313,"date":"2020-10-22T17:25:40","date_gmt":"2020-10-22T17:25:40","guid":{"rendered":"http:\/\/www.slameeting.com\/bodoct2022\/?page_id=313"},"modified":"2022-10-11T17:27:42","modified_gmt":"2022-10-11T17:27:42","slug":"contingency-funds","status":"publish","type":"page","link":"https:\/\/www.slameeting.com\/bodoct2022\/contingency-funds\/","title":{"rendered":"Proposed Budget FY-2023"},"content":{"rendered":"\n
<\/div>\n\n\n\n

Proposed Budget FY-2023<\/h1>\n\n\n\n\n\n

FY-2023 (12\/01\/2022 – 11\/30\/2023)<\/h2>\n\n\n\n
<\/div>\n\n\n\n\n\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
Name of Expense<\/td>Proposed 2023 Budget<\/td>Approved 2022 Budget<\/td>$
\nVariance<\/td>		%
\nVariance<\/td>\n<\/tr>\n
Salaries & Benefits<\/td>18,858,188 <\/td>15,922,245 <\/td>2,935,943 <\/td>18% [A] <\/span><\/td>\n<\/tr>\n
Temporary Help<\/td>20,000 <\/td>16,000 <\/td>4,000 <\/td>25%<\/td>\n<\/tr>\n
Internship<\/td>120,000 <\/td>120,000 <\/td>-<\/td>0%<\/td>\n<\/tr>\n
Employee Relations<\/td>223,372 <\/td>172,700 <\/td>50,672 <\/td>29%<\/td>\n<\/tr>\n
Rent<\/td>736,800 <\/td>1,031,100 <\/td>(294,300)<\/td>(29%) [C] <\/span><\/td>\n<\/tr>\n
Insurance<\/td>200,000 <\/td>168,000 <\/td>32,000 <\/td>19%<\/td>\n<\/tr>\n
Taxes<\/td>20,000 <\/td>6,000 <\/td>14,000 <\/td>233%<\/td>\n<\/tr>\n
Telecom<\/td>462,900 <\/td>538,620 <\/td>(75,720)<\/td>(14%) [D] <\/span><\/td>\n<\/tr>\n
Supplies<\/td>400,500 <\/td>279,000 <\/td>121,500 <\/td>44% [A] <\/span><\/td>\n<\/tr>\n
Postage and Delivery<\/td>60,000 <\/td>60,000 <\/td>-<\/td>-<\/td>\n<\/tr>\n
Printing and Reproduction<\/td>34,500 <\/td>30,500 <\/td>4,000 <\/td>13%<\/td>\n<\/tr>\n
Travel<\/td>393,851 <\/td>381,350 <\/td>12,501 <\/td>3%<\/td>\n<\/tr>\n
Events<\/td>370,000 <\/td>321,500 <\/td>48,500 <\/td>15% [Projects] <\/span><\/td>\n<\/tr>\n
Equipment Rental<\/td>80,004 <\/td>72,000 <\/td>8,004 <\/td>11%<\/td>\n<\/tr>\n
Computing & Network<\/td>491,400 <\/td>150,000 <\/td>341,400 <\/td>228% [E] <\/span><\/td>\n<\/tr>\n
Document Management<\/td>40,000 <\/td>42,000 <\/td>(2,000)<\/td>(5%)<\/td>\n<\/tr>\n
Professional Services<\/td><\/td><\/td><\/td><\/td>\n<\/tr>\n
Lobbying Fees<\/span><\/td>60,000 <\/td>60,000 <\/td>-<\/td>-<\/td>\n<\/tr>\n
Legal<\/span><\/td>200,000 <\/td>190,000 <\/td>10,000 <\/td>5%<\/td>\n<\/tr>\n
Staffing<\/span><\/td>37,500 <\/td>36,000 <\/td>1,500 <\/td>4%<\/td>\n<\/tr>\n
Accounting Services<\/span><\/td>100,000 <\/td>166,667 <\/td>(66,667)<\/td>(40%)<\/td>\n<\/tr>\n
Evaluation & Fees<\/span><\/td>49,500 <\/td>70,000 <\/td>(20,500)<\/td>(29%)<\/td>\n<\/tr>\n
Media<\/span><\/td>150,000 <\/td>68,800 <\/td>81,200 <\/td>118%<\/td>\n<\/tr>\n
Software Support & Maintenance<\/td>1,100,000 <\/td>1,180,000 <\/td>(80,000)<\/td>(7%) [Projects] <\/span><\/td>\n<\/tr>\n
Professional Development<\/td>349,158 <\/td>336,079 <\/td>13,079 <\/td>4%<\/td>\n<\/tr>\n
Contributions<\/td>140,000 <\/td>120,000 <\/td>20,000 <\/td>17%<\/td>\n<\/tr>\n
Dues and Subscriptions<\/td>177,108 <\/td>201,108 <\/td>(24,000)<\/td>(12%)<\/td>\n<\/tr>\n
Membership Engagement<\/td>250,000 <\/td>220,344 <\/td>29,656<\/td>13%<\/td>\n<\/tr>\n
Miscellaneous<\/td>50,000 <\/td>70,000 <\/td>(20,000)<\/td>(29%) [B] <\/span><\/td>\n<\/tr>\n
Bank Service Charges<\/td>42,000 <\/td>71,200 <\/td>(29,200)<\/td>(41%)<\/td>\n<\/tr>\n
Interest Expense<\/td>504<\/td>16,500 <\/td>(15,996)<\/td>(97%)<\/td>\n<\/tr>\n
Total Operating Expenses<\/td>25,217,285<\/td>22,117,713 <\/td>3,099,572 <\/td>14%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
Capital Expenditures<\/td><\/td><\/td><\/td><\/td><\/td><\/td>Proposed
\n2023 Budget<\/td>		Approved
\n2022 Budget<\/td>		$
\nVariance<\/td>		%
\nVariance<\/td>\n<\/tr>\n
<\/td>Admin<\/td>CRM V2.0<\/td><\/td><\/td><\/td><\/td>150,000 <\/td>900,000 <\/td>(750,000)<\/td><\/td>\n<\/tr>\n
<\/td>EDC<\/td>SLA Learning Center Diversification Enhancements<\/td><\/td><\/td><\/td><\/td>-<\/td>170,000 <\/td>(170,000)<\/td><\/td>\n<\/tr>\n
<\/td>EDC<\/td>Learning Center enhancements and SLA University<\/td><\/td><\/td><\/td><\/td>100,000 <\/td>-<\/td>100,000 <\/td><\/td>\n<\/tr>\n
<\/td>IT<\/td>MFA (Multi Factor Authentication)<\/td><\/td><\/td><\/td><\/td>100,000 <\/td>-<\/td>100,000<\/td><\/td>\n<\/tr>\n
<\/td>DC<\/td>Website redesign and prototype<\/td><\/td><\/td><\/td><\/td>50,000 <\/td>-<\/td>50,000<\/td><\/td>\n<\/tr>\n
<\/td>DA<\/td>SLA Data Analytics 2.0<\/td><\/td><\/td><\/td><\/td>-<\/td>50,000 <\/td>(50,000)<\/td><\/td>\n<\/tr>\n
<\/td><\/td>Total Project Sheets - Non OpEx<\/td><\/td><\/td><\/td><\/td>400,000 <\/td>1,120,000 <\/td>(870,000)<\/td>(78%)<\/td>\n<\/tr>\n
<\/td><\/td>Total Budget Spend<\/td><\/td><\/td><\/td><\/td>25,663,724 <\/td>23,237,713 <\/td>2,276,011 <\/td>10%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n

[A]<\/span><\/strong> 11 new hires totalling $1.1m (and related new computers\/desks). Health Benefits increased 12% YoY. Inflation wage adjustments.<\/p>\n\n\n\n

[B]<\/span><\/strong> Miscellaneous category is capital purchases for digital communications.<\/p>\n\n\n\n

[C]<\/span><\/strong> Closing of SF office provides cost relief in current year.<\/p>\n\n\n\n

[D]<\/span><\/strong> Improved rates and cancelling older, no longer used, contracts.<\/p>\n\n\n\n

[E]<\/span><\/strong> New annual CRM License and off-site disaster recovery<\/p>\n\n\n\n\n\n

Project Review<\/h2>\n\n\n\n\n\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
Project<\/td>Estimate<\/td>Description<\/td>\n<\/tr>\n
Learning Center enhancements and SLA University<\/td>100,000<\/td>SLA University Research and Discovery, LMS Replacement Research and Discovery, Learning Center Enhancements<\/td>\n<\/tr>\n
CRM Phase 2 and 3<\/td>150,000<\/td>CRM Phase 2 and Phase 3 - Enhancements, Reports and Dashboards<\/td>\n<\/tr>\n
MFA (Multi Factor Authentication)<\/td>100,000<\/td>MFA Phase 1 (RAPID and system login) and Phase 2 (SLIP)<\/td>\n<\/tr>\n
Website resedign and prototype<\/td>50,000<\/td>SLA Website Redesign \u2013 Design and Prototyping<\/td>\n<\/tr>\n
Policy & Training CAS Enhancements<\/td>50,000<\/td>RAPID Enhancements, FY22 projects will be addressed in FY23<\/td>\n<\/tr>\n
Compliance - Learning Center Enhancements <\/td>100,000<\/td>Learning center enhancements - Compliance connections, Resources like Tutorials, Filing requirements and procedures, FAQs<\/td>\n<\/tr>\n
Compliance CAS Enhancements<\/td>200,000<\/td>New Member Wizard\/portal, License import - NIPR\/Sircon, Ad-hoc requests<\/td>\n<\/tr>\n
Financial CAS & Other Enhancements<\/td>100,000<\/td>SSR Log\/Company Assignment Tracking
\nIID Financial Statement Import
\nNot Eligible\/At Risk Indicator<\/td>\n<\/tr>\n
Data Analysis CAS Enhancements<\/td>150,000<\/td>RAPID Enhancements, Broker Segmentation,
\nSL Form Redesign (depends on Legal Compliance) and Ad-hoc requests<\/td>\n<\/tr>\n
SLIP Enhancements<\/td>100,000<\/td>SLIP bug fixes, enhancements, adding new features identified by DA, CO, IT, and feedback from Brokers. Includes changes\/enhancements to XML\/AMS <\/td>\n<\/tr>\n
CAS General Software & Hardware Support<\/td>200,000<\/td>AWS infrastructure maintenance, software and hardware upgrades, Database upgrades, deployments, and daily support and maintenance.<\/td>\n<\/tr>\n
Reporting Enhancements<\/td>50,000<\/td>Supporting reporting requests from all departments<\/td>\n<\/tr>\n
Analytics<\/td>100,000<\/td>SLA Internal Analytics, Website Industry Reports, and Broker specific Analytics updates and enhancements.<\/td>\n<\/tr>\n
Website support & maintenance\/board meeting microsite<\/td>50,000<\/td>Board Packet Microsite, Website support & maintenance<\/td>\n<\/tr>\n
Total Estimate<\/td>1,500,000<\/td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n

Expenses Glossary<\/h2>\n\n\n\n\n\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
Salaries & Benefits<\/td>Gross salaries, payroll taxes, health benefits, retiree insurance, 401(K) safe harbor contribution, incentives<\/td>\n<\/tr>\n
Temporary Help<\/td>Admin temp help coverage over the year<\/td>\n<\/tr>\n
Internship<\/td>Intern program designed to encourage and introduce young adults into the insurance industry<\/td>\n<\/tr>\n
Employee Relations<\/td>Wellness, Employee luncheons, town halls, team building events, holiday party, summer outing<\/td>\n<\/tr>\n
Rent<\/td>BR, Utilities, Office maint., housing for contractors<\/td>\n<\/tr>\n
Insurance<\/td>GL, Property, D & O, DIC, EQ, Umbrella, Cyber, Travel & Accident, Crime, WC & EE<\/td>\n<\/tr>\n
Taxes<\/td>BR property taxes, employer tax on transportation benefits<\/td>\n<\/tr>\n
Telecom<\/td>Phone\/Fax, Broadband, Hosting and Support fees<\/td>\n<\/tr>\n
Supplies<\/td>Plants, First Aid, Office flowers, Office supplies, Computer supplies, Office snacks<\/td>\n<\/tr>\n
Postage and Delivery<\/td>Postage, FedEx<\/td>\n<\/tr>\n
Printing and Reproduction<\/td>Printing for brochures and newsletters<\/td>\n<\/tr>\n
Travel<\/td>Employee and Committee travel costs, Lloyds of London Travel<\/td>\n<\/tr>\n
Events<\/td>Local business meals, board meals<\/td>\n<\/tr>\n
Equipment Rental<\/td>Printers, Postage machines<\/td>\n<\/tr>\n
Computing & Network<\/td>Hardware and Software licenses and maintenance, Computing equipment repairs and maintenance<\/td>\n<\/tr>\n
Document Management<\/td>DataSafe storage, deconstruction, library maint.<\/td>\n<\/tr>\n
Professional Services<\/td><\/td>\n<\/tr>\n
Lobbying Fees<\/span><\/td>Norwood for California<\/td>\n<\/tr>\n
Legal<\/span><\/td>Contract review, regulation conformance, and labor disputes<\/td>\n<\/tr>\n
Staffing<\/span><\/td>Head hunter fees, personnel contract buyouts, recruitment fees<\/td>\n<\/tr>\n
Accounting Services<\/span><\/td>Hood & Strong<\/td>\n<\/tr>\n
Evaluation & Fees<\/span><\/td>Patrick Powers Photographer, Jazz Business Consulting, Triennial audit<\/td>\n<\/tr>\n
Media<\/span><\/td>Expand the digital outreach of the SLA.<\/td>\n<\/tr>\n
Software Support & Maintenance<\/td>Internal projects<\/td>\n<\/tr>\n
Professional Development<\/td>Training and Education, Conference registrations<\/td>\n<\/tr>\n
Contributions<\/td>USC, EIP, Cal State Fullerton, UCD, IICF, CIWA, WSIA Foundation<\/td>\n<\/tr>\n
Dues and Subscriptions<\/td>Subscription and fees for services, publishing, memberships<\/td>\n<\/tr>\n
Membership Engagement<\/td>CE course expenses, Promotional items, Advertisement<\/td>\n<\/tr>\n
Miscellaneous<\/td>Miscellaneous items purchased<\/td>\n<\/tr>\n
Bank Service Charges<\/td>Bank fees for investments, payroll processing, and PayPal<\/td>\n<\/tr>\n
Interest Expense<\/td>Charges for revolving line of credit<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n","protected":false},"excerpt":{"rendered":"

Proposed Budget FY-2023<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"folder":[],"class_list":["post-313","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.slameeting.com\/bodoct2022\/wp-json\/wp\/v2\/pages\/313"}],"collection":[{"href":"https:\/\/www.slameeting.com\/bodoct2022\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.slameeting.com\/bodoct2022\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.slameeting.com\/bodoct2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.slameeting.com\/bodoct2022\/wp-json\/wp\/v2\/comments?post=313"}],"version-history":[{"count":22,"href":"https:\/\/www.slameeting.com\/bodoct2022\/wp-json\/wp\/v2\/pages\/313\/revisions"}],"predecessor-version":[{"id":1854,"href":"https:\/\/www.slameeting.com\/bodoct2022\/wp-json\/wp\/v2\/pages\/313\/revisions\/1854"}],"wp:attachment":[{"href":"https:\/\/www.slameeting.com\/bodoct2022\/wp-json\/wp\/v2\/media?parent=313"}],"wp:term":[{"taxonomy":"folder","embeddable":true,"href":"https:\/\/www.slameeting.com\/bodoct2022\/wp-json\/wp\/v2\/folder?post=313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}