Budget to Actuals | Stamping Meeting: 9/28/2023

Budget to Actuals: FY2023 (12/01/2022 – 11/30/2023)

		2023 Budget to Actuals
1	CASH INFLOW	Q1-Q3 Actual	Q4 Forecast	2023 Forecast	2023 Budget	Variance$	Variance%
2	Stamping Fee Revenue	26,003,652	7,645,947	33,649,599	40,920,863	(7,271,264)	(17.77%)
3
4	Operating Expense
5	Salaries & Benefits	13,859,934	5,025,439	18,885,372	18,858,189	27,183	0.14%
6	Temporary Help	81,060	10,000	91,060	20,000	71,060	355.30%
7	Internship	75,797	-	75,797	120,000	(44,204)	(36.84%)
8	Employee Relations	230,635	49,531	280,166	223,372	56,794	25.43%
9	Rent	519,768	184,200	703,968	736,800	(32,833)	(4.46%)
10	Insurance	141,145	48,750	189,895	200,000	(10,106)	(5.05%)
11	Taxes	23,329	-	23,329	20,000	3,329	16.64%
12	Telecom	315,887	102,450	418,337	462,900	(44,564)	(9.63%)
13	Supplies	263,336	100,875	364,211	400,500	(36,290)	(9.06%)
14	Postage and Delivery	38,898	15,000	53,898	60,000	(6,103)	(10.17%)
15	Printing and Reproduction	13,089	9,250	22,339	34,500	(12,162)	(35.25%)
16	Travel	969,171	95,500	1,064,671	841,851	222,820	26.47%
17	Events	271,700	175,000	446,700	370,000	76,700	20.73%
18	Equipment Rental	23,855	20,001	43,856	80,004	(36,149)	(45.18%)
19	Computing & Network	428,100	78,600	506,700	491,400	15,300	(3.11%
20	Document Management	31,889	10,000	41,889	40,000	1,889	4.72%
21	Network Support	19,697	-	19,697	-	19,697	100.00%
22	Professional Services	288,135	152,292	440,427	597,000	(156,574)	(26.23%)
23	Software Support & Maintenance	769,333	255,000	1,024,333	1,100,000	(75,668)	(6.88%) [B]
24	Communications Mediums	15,189	3,000	18,189	-	18,189	100.0%
25	Professional Development	168,119	92,465	260,584	349,158	(88,575)	(25.37%)
26	Contributions	109,338	29,192	138,529	140,000	(1,472)	(1.05%)
27	Dues and Subscriptions	151,770	31,707	183,476	177,108	6,369	3.60%
28	Membership Engagement	117,556	65,000	182,556	250,000	(67,445)	(26.98%)
29	Miscellaneous	364	50,000	50,364	50,000	364	0.73% [A]
30	Bank Service Charges & Interest Expense	76,695	21,626	98,321	42,504	55,817	131.32%
31	Total Operating Expense	19,003,775	6,624,876	25,628,651	25,665,285	(36,635)	(0.14%)
32
33	Capital Expenditures	Q1-Q3 Actual	Q4 Forecast	2023 Forecast	2023 Budget	Variance $	Variance %
34	Office Furniture & Equipment for MarComm	27,861	22,139			-	- [A]
35	Leasehold Improvements to MarComm Studio	34,252		34,252	-	34,252
36	Computer Equipment (in FA Clearing)	18,474		18,474	-	18,474
37	CRM V2.0				150,000	(150,000)	[B]
38	Learning Center Enhancements and SLA University				100,000	(100,000)	[B]
39	Multi Factor Authentication (MFA)				100,000	(100,000)	[B]
40	Website Redesign & Prototype				50,000	(50,000)	[B]
41	Variance				46,439	(46,439)	[B]
42	Total Capital Expenditures			52,726	446,439	(393,713)
43
44	Total Actual Cash Outflow (OPEX + CAPEX)			25,681,377	26,111,724	(430,348)	(1.65%)
45
46	[A]	Originally budgeted $50k as OPEX in Misc Budget but actual activity is being booked to CAPEX in FY23
47	[B]	Originally budgeted $446,439 in CAPEX but actual activity is being booked to OPEX until CAPEX review completed near year end
48
49	CAPEX FY23 Projects Budgeted to Actual	Q1-Q3 Actual	Q4 Forecast	2023 Forecast	2023 Budget	Variance$	Variance%
50	CRM V2.0	859	50,000	50,859	150,000	(99,141)	(66.09%)
51	Learning Center Enhancements and SLA University	85,297	14,703	100,000	100,000	-	0.00%
52	Multi Factor Authentication (MFA)	23,928	36,072	60,000	100,000	(40,000)	(40.00%)
53	Website Redesign & Prototype	-	-	-	50,000	(50,000)	(100.00%)
54	Total Spend	110,084	100,775	210,859	400,000	(189,141)	(47.29%)