Proposed Budget FY-2024
| Name of Expense | Proposed 2024 Budget | Approved 2023 Budget | $ Variance | % Variance |
| Salaries & Benefits | 23,752,803 | 18,858,189 | 4,894,614 | 25.96% [A] |
| Temporary Help | 129,000 | 20,000 | 109,000 | 545% [B] |
| Internship | 130,000 | 120,000 | 10,000 | 8.33% |
| Employee Relations | 293,400 | 223,372 | 70,028 | 31.35% |
| Rent | 750,580 | 736,800 | 13,780 | 1.87% |
| Insurance | 232,955 | 200,000 | 32,955 | 16.48% |
| Taxes | 34,800 | 20,000 | 14,800 | 74.00% |
| Telecom | 557,900 | 462,900 | 95,000 | 20.52% |
| Supplies | 426,200 | 400,500 | 25,700 | 6.42% |
| Postage and Delivery | 60,000 | 60,000 | - | 0.00% |
| Printing and Reproduction | 28,000 | 34,500 | (6,500) | (18.84%) |
| Travel | 517,925 | 841,851 | (323,926) | (38.48%) |
| Events | 1,090,700 | 370,000 | 720,700 | 194.78% [C] |
| Equipment Rental | 42,500 | 80,004 | (37,504) | (46.88%) |
| Computing & Network | 607,040 | 491,400 | 115,640 | 23.53% |
| Document Management | 48,000 | 40,000 | 8,000 | 20% |
| Network Support | 120,000 | - | 120,000 | 100.00% |
| Professional Services | ||||
| Consulting | 310,000 | 60,000 | 250,000 | 416.67% [D] |
| Legal | 220,000 | 200,000 | 20,000 | 10.00% |
| Staffing | 150,000 | 37,500 | 112,500 | 300% [E] |
| Accounting Services | 105,000 | 100,000 | 5,001 | 5.00% |
| Evaluation & Fees | 95,000 | 49,500 | 45,500 | 91.92% |
| Marketing/Comm Campaigns | 73,400 | 150,000 | (76,600) | (51.07%) |
| Software Support & Maintenance | 500,000 | 1,100,000 | (600,000) | (54.55%) |
| Communications Mediums | 22,000 | - | 22,000 | 100.00% |
| Professional Development | 361,379 | 349,158 | 12,221 | 3.50% |
| Contributions | 202,000 | 140,000 | 62,000 | 44.29% |
| Dues and Subscriptions | 274,459 | 177,107 | 97,352 | 54.97% |
| Membership Services | 556,100 | 250,000 | 306,100 | 122.44% [F] |
| Miscellaneous | 60,000 | 50,000 | 10,000 | 20.00% |
| Bank Service Charges & Interest Expense | 60,504 | 42,504 | 18,504 | 43.53% |
| Total Operating Expenses | 31,811,647 | 25,665,285 | 6,146,362 | 23.95% |
| Capital Expenditures | Proposed 2024 Budget | Approved 2023 Budget | $ Variance | % Variance |
||||||
| P&T | P&T - Learning Center enhancements and SLA University | 100,000 | (100,000) | |||||||
| IT | CRM V2.0 | 150,000 | (150,000) | |||||||
| IT | Multi Factor Authentication (MFA) | 100,000 | (100,000) | |||||||
| MarComm | Website Redesign & Prototype | 50,000 | (50,000) | |||||||
| Admin | Variance | 46,439 | (46,439) | |||||||
| Admin | Leasehold Improvements for fire doors Suite 450 | 25,000 | 20,000 | |||||||
| Total Budget Spend (OPEX + CAPEX) | 31,836,647 | 26,111,724 | 5,724,923 | 21.92% | ||||||
[A] 8 new hires in DA to accommodate increased volume of transactions expected + 3 new hires in IT + 1 PMO new hire + 2 new hires in FA + 3 new hires in MarComm + significant cost of benefits
[B] Temporary Help budget has always been too small so increased for the “just in case” we need to bring temps on board; budget is now more aligned with realistic Temp need
[C] Events budget increase is due to the hosting of NESS in FY24 as well as significant cost increases for more in-person events
[D] Consulting budget increased by $250k for one consultant to work with Public Affairs department
[E] Staffing fees have increased due to the need to use more recruiters to find specialized and qualified talent
[F] Membership Services have increased due to using the category to track additional costs such as travel for Membership Services Events, and expanding our reach with new initiatives