2011_Approved_Budget

FPPTA 2011 Final Budget

Approved January 29, 2011

Presented by Raymond T. Edmondson, Jr., CPPT, CEO

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Adjustments to 2011 Budget

Revised August 23, 2010

Revised November 2010



Presented September 2010

By Raymond T. Edmondson, Jr., CPPT, CEO

Per FPPTA Board of Directors

September 25, 2010

Board of Directors Meeting

1. Associates Membership dues reduced from $2,000 to $1,800 for the year 2011.

2. CEO reported adjustment in State Sales Tax refund to $77,944.34.

3. Dismissal of National Legislative Consultant.

4. Combining National Legislative Consultants, State Legislative Consultants and

Retirees Program Consultants positions into one.

5. Reducing Combined budget for National, State Legislative and Retiree

Consultants from $49,900 to $12,000.

6. Program cuts and adjustments:

a. No monthly national legislative reports.

b. No sponsored trip to Washington, DC to meet Florida delegation.

c. No presence at national legislature.

d. No personal contact on behalf of FPPTA

e. No personal contacts with State Legislators.

f. No personal contacts with committee chairpersons.

g. No FPPTA Day in Tallahassee to meet Legislators.

h. No presence at Florida Legislature on behalf of FPPTA.

i. No attempt to get legislation introduced to strengthen defined benefit

plans.

7. Changing banking affiliations. This was accomplished after original budget

revision of August 2010. We now have two banks to deal with instead of three.

The two bank approach was recommended by the yearly outside audit. This has

been accomplished.

8. There may be a slight increase in the e-newsletter cost, due to my request it be

more interactive with our members.

9. FPPTA staff salaries frozen at 2010 pay rates. No increases.

Total Surplus estimated for the 2011 Budget was $174,934.

New Budget Surplus estimated for 2011, as of this revision, $176,884.



As to the difference in the surplus, Associate membership was reduced by $30,000;

Legislative programs budget was reduced by $37,900; Speaker fees were increased

$2,000. Hence there is a small difference in the surplus amount.



FPPTA

2011 Proposed Budget Work-Up

Revised August 23, 2010

Approved January 29, 2011

Presented June 2010



By Raymond T. Edmondson, Jr., CPPT, CEO

Five Year Plan

Fees 2010 2011 2012

Membership

Active $600.00 $600.00 $600.00

Associate $1800.00 $1800.00 $1900.00

Registrations

Schools

Active $400.00 $450.00 $450.00

Associate $650.00 $700.00 $700.00

Conference

Active $500.00 $500.00 $500.00

Associate $750.00 $800.00 $800.00

Expo $1300.00 $1500.00 $1500.00

CPPT

Pre-Registered $800.00 $800.00 $800.00

On-Site Registration $900.00 $900.00 $900.00

Re-Certification $100.00 $30.00 $30.00

NYSE

Trustees $500.00 $500.00 $500.00

Guests $100.00 $100.00 $100.00

Sponsors $6000.00 $6000.00 $6000.00

Retirees 9.99 9.99 9.99

Benefits 9.99 9.99 9.99

Sponsorships for the schools and conference will remain as of 2010



MEMBERSHIP

INCOME

Pension Boards

2008 we had about 230 member boards

2009 we had 258 member boards

2011 figured on 240 boards to be safe

240 x $600 = $144,000

Associates

2008 we had 104 Associate members

2009 we had 181 Associate members

2011 figure on 150 Associates to be safe

150 x $1,800 = $270,000

SCHOOL ATTENDANCE

You must calculate on a school one year ago, and predict what it

will be one year forward based on location and past experience.

The January/February School is usually the smaller function.

Sites are chosen on various factors: The area of the state, the

weather, the facility, the ease of travel for attendees and speakers,

such as highway, airports, etc.; the room price, the food price, the

accessibility of shopping and restaurants, the facility staff, the

facility layout, are the sessions and lodging under the same a/c,

parking safety and security.



BUDGET PROCESS

For the 2011 budget, I took the actual expenses of 2009 and

predicted what they will be in 2011. I have reorganized the format

of the budget to make it easier for you to see with revenue and

expense per function. In 2009 and 2010 we totally remodeled the

FPPTA offices at a cost of approximately $47,600.00. It should be

noted that this figure also included repairs:

Two roof leaks;

One exterior door and jam was replaced;

Exterior scraped and repainted;

North wall of building encompassing Kim’s and Lois’s

offices a section of 4 foot by 20 foot needed to be replaced

due to water intrusion causing mildew and fungus inside the

wall section. Interior section was removed plus insulation,

cleaned with bleach and replaced new. Outside of wall, brick

was sealed and a water diverter plus gutter and down spout

installed;

All outside door locks need to be replaced.

These funds came from surplus and the remodeling was long

needed. We have put money back into the business with our new

database at a cost of $32,500.00. We have also had to spend funds

on Town Hall meetings and professional consultants to protect our

interests. The funds expended were spent within the organization

to modernize and protect future assets.

It is difficult to give you a more accurate budget until we realize

the full impact of being sales tax exempt. I keep checking our fund

balances against prior years and I can tell you we are financially

sound.



CPPT CERTIFICATION

The CPPT recertification fee will now be paid on a yearly basis.

The three year cycle is too labor intense. The $30.00 fee is for

processing and will be collected when the yearly CEU form is

received. If there is a one year, or more, lapse in receiving the

CEU form or recertification fee, the individual will be suspended

from the program. To be reinstated, the individual must take and

pass the advanced test plus pay a $100.00 fee.

FLORIDA SALES TAX REFUND

The State of Florida Department of Revenue, after reviewing all

materials submitted, has agreed to pay a refund to the FPPTA of

$77,944.34.



Note:

The Annual Fishing Tournament is at no cost to the FPPTA.

The Annual Associates Charitable Golf Classic surplus is deposited in a

separate account for a relief fund to assist members in distress.

The excess of non-educational functions will go to charitable causes.



REVENUE

INCOME

EXPENSE Membership

Membership Active $144,000.00 covered in normal expenses

Associate $270,000.00 Benefits $1,000.00 Retirees $1,000.00 Subtotal $416,000.00

Sales Tax Refund $77,944.00 Recertification Fees $6,000.00 Subtotal $83,944.00 January/February School January/February School

Active Registrations $129,375.00 Audio/Visual $12,000.00 Associate Registrations $42,000.00 Casual Labor $500.00 CPPT Registrations $20,000.00 Food & Beverages $80,000.00 Sponsorships $20,000.00 Entertainment $1,000.00 Subtotal $211,375.00 Equipment Rental $400.00

Refunds $2,500.00

Signs $450.00

Travel $4,000.00

Lodging $18,000.00

Per Diem $3,500.00

Subtotal $122,350.00

September/October School September/October School Active Registrations $168,750.00 Audio/Visual $14,000.00 Associate Registrations $63,000.00 Casual Labor $500.00 CPPT Registrations $20,000.00 Food & Beverages $85,000.00 Sponsorships $20,000.00 Entertainment $1,000.00 Subtotal $271, 750.00 Equipment Rental $400.00

Refunds $2,500.00

Signs $750.00

Travel $4,000.00

Lodging $19,000.00

Per Diem $3,500.00


Annual Conference

Annual Conference Active Registrations $175,000.00 Audio/Visual $20,000.00



Associate Registrations $142,000.00 Casual Labor $600.00 Sponsorships $35,000.00 Food & Beverages $215,000.00 Expo $85,500.00 Tote Bags $4,000.00

Subtotal $437,500.00 Signs $1,500.00

Children's Activities $6,000.00

Lodging $4,500.00

Travel $8,000.00

Per Diem $4,500.00

Entertainment $2,000.00

Prizes $950.00

Awards $3,000.00

CPPT Plaque $2,400.00


NYSE NYSE

Entertainment $11,000.00

Trustees $17,000.00 Food & Beverages $40,000.00 Guests $3,000.00 Lodging $5,000.00 Sponsors $54,000.00 Travel $9,000.00 Subtotal $74,000.00 Equipment Rental $2,000.00

Per Diem $1,100.00

Subtotal $68,100.00

Golf Classic Golf Classic

Greens Fees $13,000.00

Greens Fees $13,000.00 Signs $150.00

Sponsorships $13,000.00 Trophies $190.00 Subtotal $26,000.00 Breakfast $900.00

Subtotal $14,240.00

Fishing Tournament Fishing Tournament

Food & Beverage $15,000.00

Entry Fees $1,125.00 Shirts $2,500.00 Sponsorships $18,875.00 Staff $1,600.00 Subtotal $20,000.00 Prizes $1,200.00

Subtotal $20,300.00

Voice Magazine Voice Magazine

Consultant - Ann Thompson $3,350.00

Ads $15,900.00 Graphic Design - Vanessa

Zein-Eldin $2,883.00 Subtotal $15,900.00 Outside Printing $8,096.00

Subtotal $14,329.00



GENERAL EXPENSES Accounting Fees $12,000.00

Audit Fees $6,400.00

Auto Expense Staff $10,800.00

Contributions $2,400.00

Bank Charges $400.00

Credit Card Fees $12,000.00

Dues/Subscriptions $3,000.00

Building Maintenance $2,500.00

Consultants Educational $56,712.00

Media $6,000.00

Public Relations $10,200.00

National & Florida Legislative $12,000.00

Continuing Education $1,000.00

Cable Service $950.00

Equipment Leasing $26,000.00

Entertainment-Office $1,500.00

Data Processing $15,000.00

Faces of Florida $1,600.00

Legal Fees $20,000.00

Licenses & Permits $300.00

Mortgage $33,756.00

Printing $30,700.00

Real Estate Tax $0.00

Speakers $14,000.00

Building Lawn Care $900.00

Postage $20,500.00

Stationery $11,000.00

Telephone $9,500.00

Utilities $7,000.00

Website/Database $30,000.00

Insurance Health $23,520.00

Building $2,600.00



Workers Comp $2,000.00

Meeting Cancellation $5,306.00 Officers & Directors $3,000.00 Liability $2,832.00 Umbrella $301.00 Building Security $2,488.00 Town Hall Meetings $30,000.00 Pest Control $700.00 Office Staff Payroll

CEO Salary $91,708.00 COO Salary $75,711.00 IRA Contributions $7,567.00 Salary Office Staff $98,339.00 Casual Labor $4,200.00 Payroll Tax $21,175.00 Annual Bonus $5,200.00 Recertification $6,000.00 General Expenses Total $740,765.00

ASSETS

Land & Building $470,000.00 Inventory $1,300.00 Hotel Deposits $1,800.00

Total $473,100.00

ACCOUNT BALANCES - detail

as of 9/30/200910

as of 9/30/2010

Checking FLORIDA BANK LAND to be closed $3,003.39

$0.00

FLORIDA BANK OPERATING to be closed $114,696.62

$0.00

BB&T-Operating Checking $0.00

$251,778.80

BB&T Interest Checking $0.00

$10,049.66



as of 9/30/09

as of 9/30/10

Savings FLORIDA BANK MM $4,644.11

$0.00

BB&T Money Market Savings $0.00

$300.15

PRIME MERIDIAN SAVINGS $0.00

$1,006.08

PRIME MERIDIAN RELIEF FUND $0.00

$14,521.00

Total Bank Funds $122,344.12

$277,655.69

Prime Meridian Line of Credit $0.00

$0.00

TOTAL $122,344.12

$277,655.69

ACCOUNT BALANCES - summary

as of 9/30/2009

as of 9/30/2010

Checking $117,700.01

$251,778.80

Interest Checking $0.00

$10,049.66

Savings $4,644.11

$15,827.23

Total Bank Funds $122,344.12

$277,655.69

Prime Meridian Line of Credit $0.00

$0.00

TOTAL $122,344.12

$277,655.69



CONSULTANTS

Educational: $56,712.00

This is a base amount. We pay lodging, travel and any extra projects he might be

asked to perform.

Base covers:

Two FPPTA Schools

Education Committee

New York CPPT CEU trip

Annual Conference

Creation of Agendas

Incorporation with COO Kim Ryals, plus

Maintaining the speaker rotation

E-newsletter

Media: $6,000.00

Runs Town Hall Meetings

Speaks at FPPTA schools and conferences

Represents FPPTA in the assistance of local pension systems

Keeps FPPTA CEO informed of situations in Florida pertaining to Defined

Benefit systems, and

Creates informational papers such as 401K report

Receives travel, expenses and lodging.

Public Relations: $10,200.00

Creates and maintains Faces of Florida,

Creates OpEd articles,

Maintains contact with news media on behalf of FPPTA,

Has created personal contact with the newspaper columnists and editors,

Speaks at FPPTA schools and conferences,

Assists on behalf of the local pension systems with articles on local issues,

and

Works on special projects such as Town Hall meetings.

Receives lodging, travel and expenses.



Expenses vs. Total

Building Mortgage & Maintenance

4%Postage

2%

Wages29%

Benefits2%

Social Security2%

Printing3%

Insurance(minus health),

2%Equipment leasing3%

Lodging5%

Travel2%

Food46%

Expenses vs. Total



Total Income $1,556,469

Total Expense $1,383,184

Excess $ 173,285

We know we will receive the approved

refund, but it may not be before the first of

the year.



Positive factors

1. Increased memberships

2. Increased fees

3. Increased attendance

4. Reduced hotel prices

5. Hired consultants, not employees

6. Reduced speaker costs

7. Decreased printing and paper costs

8. Reduced shipping costs

9. Reduced outside printing

10. Increasing exposition area

11. Investing in data processing

12. Increased contact and flow of information with members

13. Decrease in sales and property tax



Negative Factors

1. Air fares

2. Monitoring legislative activity

3. Town Hall meetings

4. Defending Defined Benefit systems against the League of Cities and

City management

5. Cost of electricity

6. Insurance costs

7. Decrease in bank interest

8. Increases in services to members