3/15/14
Finance Team Report
National Finance Team
Yvonne Elosiebo, National Treasurer Ja’net Miles, Financial Secretary Alfred Miller, Jr., Financial Specialist ReAzalia Allen, Financial Specialist
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3/15/14
Objectives • 1. Create a national budget that reigns in expenses yet delivers on program priorities • 2. Create a spending practice and policy that minimizes unnecessary expenditures. • 3. Keep national executive board updated at all times on financial health of NBLSA • 4. Put NBLSA in a better financial position for future years.
Sources of Income Convention Registration and sponsorships Membership Dues CBC Weekend Sponsorship
Membership Dues, $86,815.00
INC Competition Registration Mock Trial Competition Moot Court Competition
CBC Weekend Sponsorship, $500.00
Convention, $167,797.00
TMTCC, $25,250.00
FDMCC, $26,650.00 INC Competition, $1,950.00
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3/15/14
Expenses Budgeted Expenditures
Operating Expenses 15%
Actual Expenditures
Operating Expenses 13%
Competition 5%
Competition Expenses 8% Programing 9%
Programing 7%
Convention 70%
Convention 73%
2013-2014 Programs • Joint Board Retreat • NBA Conference/Meeting • CBC Weekend • Frederick Douglass Moot Court Competition • Thurgood Marshall Mock Trial Competition • International Negotiations Competitions • Community Service Trip • Charles Hamilton Houston Leadership Retreat • BLSA Canada Annual Convention • International Law Week • 2014 National Convention
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3/15/14
3 Year Comparison $600,000
$500,000
US Dollars
$400,000
$300,000
$200,000
$100,000
$0
2011-2012
2012-2013
2013-2014
Membership Dues
$100,454
$94,500.00
86,815.00
Competition Registration Fees
$68,473
$51,535.00
52,450.00
National Convention Registration Fees
$122,875
$92,420.00
49,147.00
Sponsorship
$225,350
$131,555.00
118,650.00
Total -
517,152
$370,010.00
307,062.00
Tax Exemption
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3/15/14
Revised Financial Policy • Limits Spending when funding expectations have not been met. • Creates a timeline for Treasurer to notify the board of needed spending cuts, particularly for convention. • Sets management expectations for the NBLSA Foundation.
Financial Future • Road to 50 $20,000 allocation • $25,000 2014-2015 starting budget
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