Budget to Actuals: FY2021 (12/01/2020 – 11/30/2021)

Executive Summary:

• All expenses in current year were covered by operational cash. No brokerage funds needed.
• Expenses are anticipated to be 4.6% under budget ($923k).
• All long term debt has been removed

Expense Outflow:

• Salaries and benefits expected to increase due to inflation and retention of key employees
• Lower project and professional service costs due to greater use of internal resources
• Membership Engagement lower due to lack of in-person events

Successes:

• Pension liability fully transferred
• Digital course content delivered to members quickly with internal studio
• New internal initiatives, like D&I, help keep SLA a leader in the industry

Learning Points:

• Adjust to a work from home first work force and keeping morale high and team engaged
• Create succession plan for senior staff.

		2021 Budget to Actuals
1	CASH INFLOW	Q1-Q3 Actual	Q4 Forecast	2021 Forecast	2021 Budget	Variance ($)	Variance (%)
2	Stamping Fee Revenue	22,978,362	9,521,638	32,500,000	29,200,000	3,300,000	11.3%
3
4	Operating Expense	Q1-Q3 Actual	Forecast Q4	2021 Forecast	2021 Budget	Variance ($) (-) Under Budget	Variance (%) (-) Under Budget
5	Salaries & Benefits	9,840,716	3,897,679	13,738,396	13,343,574	394,822	3.0%
6	Temporary Help	81,525	46,000	127,525	20,000	107,525	537.6%
7	Internship	-	-	-	75,000	(75,000)	(100.00%)
8	Employee Relations	76,774	45,600	122,374	152,860	(30,486)	(19.94%)
9	Rent	742,713	282,300	1,025,013	1,129,200	(104,187)	(9.23%)
10	Insurance	115,678	39,999	155,677	159,996	(4,319)	(2.70%)
11	Taxes	8,103	3,000	11,103	-	11,103	100.0%
12	Telecom	379,989	134,475	514,464	479,700	34,764	7.2%
13	Supplies	163,874	57,775	221,649	271,050	(49,401)	(18.23%)
14	Postage and Delivery	16,715	15,000	31,715	60,000	(28,285)	(47.14%)
15	Printing and Reproduction	3,814	9,900	13,714	39,400	(25,686)	(65.19%)
16	Travel	56,298	137,750	194,048	348,650	(154,602)	(44.34%)
17	Events	13,623	180,000	193,623	200,000	(6,377)	(3.19%)
18	Equipment Rental	45,117	20,001	65,118	80,004	(14,886)	(18.61%)
19	Computing & Network	102,465	58,000	160,465	259,000	(98,535)	(38.04%)
20	Document Management	30,315	2,250	32,565	22,200	10,365	46.7%
21	Network	2,520	6,000	8,520	81,600	(73,080)	(89.56%)
22	Electronic Infrastructure	-	-	-	-	-	0.0%
23	Professional Services	379,116	299,250	678,366	855,720	(177,354)	(20.73%)
24	Software Support & Maintenance	215,611	273,500	489,111	702,000	(212,889)	(30.33%)
25	Communications Mediums	34,155	24,000	58,155	114,000	(55,845)	(48.99%)
26	Professional Development	93,810	96,900	190,709	340,715	(150,006)	(44.03%)
27	Contributions	63,143	43,000	106,143	160,000	(53,857)	(33.66%)
28	Dues and Subscriptions	131,009	28,120	159,129	170,611	(11,482)	(6.73%)
29	Membership Engagement	80,312	84,600	164,912	268,150	(103,238)	(38.50%)
30	Miscellaneous	1,664	50,300	51,964	126,200	(74,236)	(58.82%)
31	Bank Service Charges	46,338	13,400	59,738	33,600	26,138	77.8%
32	Interest Expense	-	-	-	-	-	0.0%
33	Total Operating Expense	12,725,397	5,848,799	18,574,196	19,493,229	(919,033)	(4.71%)
34
35	Capital Expenditures	Q1-Q3 Actual	Forecast Q4	2021 Forecast	2021 Budget	Variance ($) (-) Under Budget	Variance (%) (-) Under Budget
36	CRM V1.0	36,450	213,550	250,000	250,000	-	0.0%
37	SLA Learning Center Diversification Enhancements	96,387	-	96,387	100,000	(3,613)	(3.61%)
38	SLA Learning Center - On-Demand Course Creation	48,077	11,923	60,000	60,000	-	0.0%
39	SLA Data Analytics 2.0	87,410	12,590	100,000	100,000	-	0.0%
40	Total Capital Expenditures	268,324	238,063	506,387	510,000	(3,613)	(0.71%)
41
42	Total Cash Outflow	12,993,721	6,086,862	19,080,583	20,003,229	($922,646)	(4.61%)