2009 Budget Explainer

First Report

• FOIFT Operating Balance Sheet– Page 2: Operating Balance of nearly

$65,000• This is roughly half of our annual operating

expenses

Second Report: FOIFT Operating Profit and Loss

Report

• Income Category #1000– The negative $5449 number can be attributed to

an expired Light of Day grant that we are returning to the Ethics & Excellence Journalism Foundation

FOIFT Operating Profit and Loss Report Continued

• Income Category #1100– $28,850 is considerably less than the $40,000 we

had budgeted to receive from the Dallas Foundation.

FOIFT Operating Profit and Loss Report Continued

• Income Category #1320– Little activity relating to handbook sales

• Income Category #2060– One time moving expenses that will not

be carried over

FOIFT Operating Profit and Loss Report Continued

• Income Category #2130– One time printing and postage expenses for

mailing postcards about FOI Focus Newsletter• Income Category #2220– One half of these expenses are for 2008

Conference

FOIFT Operating Profit and Loss Report Continued

• On page 2 there is a negative $49,270 “Net Ordinary Income” amount, However, when you factor in $39,000 in budgeting endowment disbursements that do not normally get deposited until the end of December, that number is expected to be reduced significantly.

Reports One and Two Summary

• Despite the fact that FOIFT administrative operations realistically only covered about 6 months of the last year, we expect to end up very close to meeting the proposed budget.

Third Report: The FOI Supporting Foundation

Balance Sheet• Page 2– The value of all our endowments is nearly

$788,979. That number is up $83,073 from the first of the year and only covers the first three quarters of 2009.

Third Report: The FOI Supporting Foundation Balance Sheet

– Assuming the growth continues at the same rate, the endowments should be valued at more than $800,000 by the first of the year 2010.

Fifth Report: The FOIFT Budget 2009 Primary Expenses

• If you subtract the $19,500 moving grant for 2008 and add back in the $5,449 we had to give back from the light of day grant, the difference from year to year from the budgeted vs. the actual incomes is almost identical ($23,979 for 2008 and $25,399 for 2009)

State Conference

• Our income from this year’s state conference exceeded our budgeted amount by 88 percent.