Current Rotary Club of Belleville Vice-President and Treasurer Shannon Neely started the presentation of the 2015/16 Rotary budget by donning budget day shoes a long standing tradition of Canadian federal and some provincial finance ministers before the presentation of their budgets.  By the way, nice shoes Shannon.
 
President Elect Kelly McKinney opened the budget presentation by highlighting 15/16 Rotary International theme as Be a Gift to the World.
 
Before the budget was presented, a historical perspective of fundraising results for the past 5 Rotary years was provided including 2014/15 YTD figures to the end of April, which shows 14/15 as the most successful year in the group at a YTD figure of $222,321, well above total yearly figures for the previous 4 Rotary years.  It is important to note that full budget depiction is available within the club website, so only total figures wil be presented during this synopsis.
 
Treasurer Shannon presented the 2015/16 Operating Account Revenues Projections indicating total projected revenues of $112,360 which includes dues, meals, 50/50 Every Rotarian Every Year.
 
Proposed Operating Account Expenses for the 2015/16 year are $110,685 which includes 50/50, meals, RI and District expenses and administration and fellowship.
 
Treasurer Shannon advised that lunch costs are being increased to $15 a week effective the 6th of July and reflects the first change since 1986 and was being subsidized by the club versus actual costs using up club funds that could  be employed to benefit the community.  Top 10 reasons for the changes were provided, but little or no objection was raised by members in attendance around meal increase.
 
Shannon then presented both the 2015/16 Projected Fundraising Revenues for 2015/16 with a total of $168,000 from sources such as RTA, RLK, Christmas Hams and Diners and Duffers.

In addition, an additional $47,000 in revenue is projected to be received via investment income and other sources.  This provides a projected Service Account Revenue result of $215,200.
 
Proposed Service Account Disbursements have been proposed at $215,200 with the following committee allocations:
  • International Service: $75,500
  • Community Service: $75,700
  • Special Needs Children: $43,500
  • Foundation (EREY): $13,000
  • Exigency Grants: $1,000
  • Fundraising Expenses: $6,500
Full spending allocations to service committees available in club website.
 
Summary indicated :
  • Total Revenues of $327,560
  • Total Expenses of $325,885
  • Net Income of  $1,685.
Shannon also presented a current balance sheet as of April 30th 2015 indicating bank account balances of $243,425.50, investments of $507,378.11 for total assets of $750,803.61.
 
Shannon advised a committee will be struck to investigate the allocation of additional funds currently residing in bank account to long term investments or other community initiatives and committee will report back to membership with recommendations after deliberation undertaken.
 
Questions followed around the surplus and utilization and T-1 funding rules and Shannon advised that bank account  balances have been augmented by matured GICs which have not been invested and that is what the committee will focus on but sufficient resources exist to meet funding needs for programs in the 15/16 Rotary Year.
 
Rotarian Adrian Hilmi asked about currency concerns and club has not specifically undertaken a policy to deal with stronger US dollar in the short term. Rotarian Elizabeth Grew highlighted potential funding issue around IS program which will see policy change at end of June and might need to expedite process to insure Global Grant request is dealt with under current guidelines.
 
Moved by Sam Brady and seconded by Hal Wilson that the 2015/2016 Rotary Club of Belleville budget be approved.  Voted on and supported unanimously by members in attendance.
 
 
 
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