OPERATIONAL BUDGET & CASH FLOW Fiscal Year Period: 07/01/10 to 06/30/11

Transcription

1 OPERATIONAL BUDGET & CASH FLOW Fiscal Year Period: 07/01/10 to 06/30/11 INCOME Operating Income Dues Revenues * $ 9,944,550 $ 10,058,750 Other Income (Includes: Grants, Rebates, Contributions, Sponsorships, Advertising, Events, AFT & NEA/FEA Assistance.) 907,000 $ 1,075,840 Total Income $ 10,851,550 $ 11,134,590 EXPENSES Wages, Taxes and Benefits ** Salaries 2,313,906 $ 2,338,956 Payroll Taxes 181,204 $ 180,646 Employee Benefits 658,236 $ 699,901 $ 3,153,345 $ 3,219,503 Employee Expenses (Includes: Mileage, Cellular Phones, Staff Travel) $ 177,000 $ 162,733 Administrative Expenses Includes: Insurance, Office Supplies, Printing, Postage, Telephone, Equipment Leases, Equipment Maintenance, Staff Development/Training. $ 287,690 $ 319,547 Office Lease/Back-Lot Expenses (Includes: Office Lease, Share of Building Operating Expenses, Back Lot Property Taxes, Maintenance and Insurance on the property) $ 652,050 $ 915,835 Professional Services (Includes: Consulting, Legal, Audit & Other Professional Services) $ 65,800 $ 68,800 Member Benefits & Services (1) Stewards Expenses $ 153,500 $ 150,400 Executive Board Expenses 53,600 $ 53,600 Legislative Action 184,125 $ 187,500 TSA/ESA Release Expenses ** 369,618 $ 390,272 Communication & Organizing, Events, Community Support/Outreach, Contract Enforcement/Member Advocacy, Strategic Services, Planning, Negotiations, Internal Training, Conferences, Meetings & Workshops. 640,000 $ 605,150 1,400,843 1,386,922 Per Capita Current (Includes: AFT, FEA/NEA, National AFL-CIO, & Florida CLC)*** $ 5,084,820 $ 5,041,250 Total Operating Expenses $ 10,821,550 $ 11,114,590 Non Operating Expenses/Accruals Leasehold Improvements/ IT 30,000 $ 20,000 Total Expenses & Non Operating Payments $ 10,851,550 $ 11,134,590 Total Cash Before AFT Loans & Per Capita Arrearage Obligations $ 0 $ - Budget * Dues revenue based on 12,250 $ per year on accrual basis. ** TSA/ESA release expenses funds are approved to be utilized for employee hiring (wages, taxes & benefits) as needed. *** Per Capita arrearage to AFT & FEA: $3,626,427 (1) Monies generated from membership growth above 12,250 FTE's are approved to be added into the budgets of various departments. 1

2 UTD OPERATIONAL BUDGET (July 1, 2010 to June 30, 2011) The following is an analysis of the Operational UTD budget for year : Income: Dues Revenue $9,944,550 Dues revenue is calculated based on 12,250 FTE s (Full Time Equivalent). There is no increase in local membership dues. Proposed Pass-through dues increases for state and national affiliates (FEA, AFT, NEA & AFL-CIO) are included, in accordance with the requirements of the UTD Constitution. Any revenue received by generated membership growth above 12,250 FTE s will be added into the budgets of various departments. Other Income: $907,000 Includes: Grants, Rebates, Contributions, Sponsorships, Advertising, Events, AFT & NEA/FEA Assistance and Interest earned. We forecast receiving grants, rebates & assistance from NEA/FEA based on membership, an estimated amount of $150,000 per quarter. Grants and Rebates calculations are based on membership. Contributions, Events, Sponsorships & Advertising revenues are calculated using previous data. AFT Formula Assistance is based on membership and the estimated amount is $47,000 per year. Interest accrued on the UTD Towers receivable is estimated. Interest on bank balances are also estimates. Wages, Taxes & Benefits: Wages, Salaries, Compensation: $2,313,906 Payroll Taxes: $181,204 Employee Benefits: $658,236 Total: $3,153,345 The budget includes compensation increases for the Teamsters Bargaining Unit members, and Confidential employees. Bargaining Unit increases are calculated according to the Teamsters Contract. There was no increase in salaries of the Officers and Managers on last year s budget. We calculated increases for this budget

3 Employee Expenses: $177,000 Includes: Mileage, Cellular Phones and Staff Travel. This calculation is based on historical data. Administrative Expenses: $287,690 Includes: Office Supplies, Printing, Postage, Telephone, Insurance, Equipment Leases and Equipment Maintenance. We have calculated the actual expenses for Office and Equipment leases, according to the contracts. All other accounts in this category were estimated based on previous data. Office Lease and Back Lot Expenses: $652,050 Includes: Office Lease, and share of Building Operating and Administrative Expenses. Also included are Expenses for Property Taxes, Insurance and maintenance of the back lot. We reduced our office space from 3 floors to 2 floors, decreasing the rent expense. The renewed lease was extended for 5 years. Professional Services: $65,800 Includes: Audit, Consulting, Legal and Other Professional Services. This calculation is based on previous data. Member Benefits & Services: $1,400,843 Stewards Expenses: $153,500. Includes Stewards incentives, conferences, meetings, training, and rent for the Council of Stewards meetings. Calculation is based on previous data. Executive Board Expenses: $53,600. Includes meetings, mileage, monthly stipend, and travel. Calculation is based on previous data. Legislative Action: $184,125. This is an approximate calculation based on contributions. This is an elective contribution. TSA/ESA Release Expense: $369,618. Includes estimated supplements for TSA/ESA on pool days as well as salaries, supplements, taxes and benefits for TSA/ESA that UTD must reimburse M-DCPS. TSA/ESA funds are authorized to be utilized for employee hiring as well. We have not calculated year 2011 summer pay for TSA/ESA on this budget. 3

4 All other accounts: $640,000. In this total we have included expenses for Communications & Organizing, Events, Community Support/Outreach, Contract Enforcement/Member Advocacy, Strategic Services, Planning, Negotiations, Internal Training, Conferences, Meetings and Workshops. The Multicultural Event, Education Summit, Membership Picnic and others. Figures are estimated based on previous data. Per Capita: $5,084,820 $ 2,419,220 AFT $ 2,550,450 FEA / NEA $ 41,650 FL-CLC (Central Labor Council) $ 73,500 AFL-CIO Per capita dues to Affiliates are calculated based on membership. Proposed Pass-through per capita dues to AFT and NEA/FEA for year are included. Non Operating Payments: $30,000 IT and Assets Improvements: $30,000. Budgeted for the upgrade of the computer system and Leasehold Improvements due to the office space reduction from 3 floors to 2 floors. UTD is pleased to present a balanced budget! FINANCIAL POSITION AS OF FEBRUARY 28, 2010 Bank balance: As of February 28, 2010, our bank balance was $6,737,926, including a Certificate of Deposit in BB&T Bank of $179,671. Our general payable liability was $903,569. Advances: Receivable from UTD Towers Actual balance: $3,787,317 (Including Accrued Interest) Deferred Member Dues: Actual balance: $1,454,775 4

5 Escrow Account: Property Taxes: Actual balance: $348,568 A deposit of $104,000 for estimated property taxes was made to the Dade County Property Appraiser. Sponsorships Temporarily Restricted: Actual balance: $66,460 Sponsorships for the Event series Affiliate Loans Payable: Past due per capita dues payable are: AFT: $2,135,150 FEA: $1,491,276 Loan for Operations payable to AFT: AFT: $2,543,976 Includes advances paid on behalf of UTD Towers for the Stanley Axlrod Towers Project and also legal expenses related to the property tax on the back lot. ********* 5