Greetings:

We are pleased to submit the budget for the fiscal period 2011/2012. This submission is a modified version of the previous year's (2010/2011) budget. The expectation for last year was to have an 80% funding participation of the membership. Unfortunately, that was not the case. When we compared 2010/2011 actual receipts to budgeted receipts of the same period, the participation level of the membership was under 10%.

The projected 80% of funding participation was encouraged after a careful evaluation of what the membership has cried out for, and that is, the dire need for carrying out, at least, one project every year. That is a noble goal, because it is only through such an ambition that the Alumni Association can make meaningful contributions to the restoration efforts of the Episcopal Elementary and High Schools. As your National Treasurer, I am of the strong conviction that we still share that ambition in our hearts. Now that we have begun to see increased efforts, such as the funding of the teachers payroll, I have no doubt that the year 2011/2012 will mark the beginning of fulfilling that desire of full participation in the restoration efforts.

Executive Summary

The Budget comprises the following statements: Cash Statement, Statement of Receipts, Personnel Cost Funding Statement, Project Cost Funding Statement, and Operational Cost Statement. Also attached are various schedules to support the numbers.

The numbers generated in this budget are based on various assumptions ranging from full participation to increases in donations. In 2010/2011, the Reconstruction Contribution was adjusted from a lump sum payment of $1,000 per annum to a spread of $300.00 per annum over a three years period. It was further indicated that of the $300 yearly payment, $100 would be credited to the individuals account for the yearly dues. This was designed to avoid placing financial burden on our members. For fiscal 2011/2012, the Reconstruction Contribution remains at $200 while the annual dues is slightly increased to $150, totaling the annual adjustment to $350. We encourage our members to pay this amount on a monthly basis which amounts to $29.16 monthly or on a quarterly basis of $87.50 per quarter.

As was in the case of the previous year, we structured three different schedules using the total of 242 head counts as our basis to reflect various assumptions. The assumptions include: (1) 75% receivables; (2) 80% receivables and (3) 85% receivables. We also took into account that our selection of 80% receivables for last year seems to be on the high side, hence, we have selected the 75% receivables options with a further 5% reduction, thus totaling 70% receivables as a better assumption for direct receipts. Again, this can only become a realization, if we have full participation.

For details of the analysis, see Payment Analysis per Individual per State.

Cash Statement

The Cash Statement summarizes cash inflow and outflow. It also shows the total cash balance brought forward as at the end of August 2011. The ending balance as at the date indicated is $28,040.43. (See the breakdown below).

We are confident that the members’ ardent desire to have full participation will result to generating adequate funding to facilitate and sustain all reconstruction efforts.

For details, see the Analyzed Statement, Cash (an Excel spreadsheet).

Cash Receipts Budget

The Cash Receipts Budget reflects estimates of receipts from reconstruction initiatives, annual dues, donations, DVD sales, convention activities and interest income. In calculating the budgeted receipts from reconstruction initiatives and annual dues, it was assumed that out of the 242 head counts, 70% of the members, about 169 head counts, will be committed to making payments. It is also assumed that the Board will constitute a committee that will be assertive and diligent in charting collections process.

Receipts from reconstruction and dues are estimated at $59,150.00. Of this amount, $33,800.00 accounts for reconstruction and $25,350.00 accounts for yearly dues. Other receipts include: DVD sales and donations totaling $7,000.00, convention activities, interest income, convention activities and miscellaneous income totaling $2,525.00.

For details, see the EHS-EES 2011-2012 Budget (an Excel spreadsheet).

Personnel Costs Funding

The Personnel Costs Funding Report shows funding of salaries/wages and housing allowance for principals, administrative staff, teachers and support staff.

The total budgeted salaries/wages for the year is $13,797.00. This amount includes $9,405 for the high school, $2,892 for the elementary school and $1,500 for a school nurse. Housing allowance accounts for a total of $1,304. This represents a monthly payment of $15.00 across the board for principals, teachers and staff.

The combined personnel costs are estimated to be $15,101. This number represents 60% of the 57.8% allotted to the Alumni Associations of US and Liberia by the Diocese.

The total personnel costs annually are estimated at $37,920. In a three-way sharing network-- the Diocese is funding 42.2% and the Alumni Associations are funding 57.8%.

For details on the payroll costs, see the Payroll Support Schedule 1011-2012 spreadsheet.

Project Costs Funding

Our Project Costs Funding budget entails funding a minimum of one project every year. For this fiscal year, the science lab has been selected as the project, in addition to the teachers’ payroll. We are very grateful to one of our committed members, Mrs. Ethel Vangolan Shiancoe, who made $10,000.00 donation for this project in honor of Mrs. Barnaby. The total cost of the project is $18,952.00 and is composed of the following cost elements:

• lab equipment, $5,332.00
• a 20KVA generator to run the lab, 5,000.00
• cost of shipping lab equipment, $3,600.00
• port charges and dues, Monrovia, $1,000.00
• and the cost of renovating and constructing tables and stools, $4,000.00.

The Liberian Chapter is funding the renovation, construction of tables and stools. The renovation work is in-progress. Additionally, we have budgeted $5,000.00 to facilitate repairs of damages to the high school building caused by erosion last year. This is carried over from last year's budget.

For the complete list of items purchased, see the Listing of Biology, Chemistry, and Physics Equipment spreadsheet. For an overview of the projects that your dues and donations support, see the 2010/11 EHS-EES Alumni Support Projects Summary Report (in PDF format).

Operational Costs

The Operational Costs are the costs of operating the Alumni Association of America. These costs include professional fees, shipping, travels, and postage and office supplies. The total of operational costs is $5,865.00.

Included in this amount is $3,500 for travels. With the kind of outlay, it is important to at least once a year have someone visit Liberia to verify whatever activities we are engaged in.

We have also made provision for a consultant who will maintain our website in additional to soliciting grants and writing grant proposals.

Conclusion

We have built a good working and viable relationship with the Liberian Chapter. We continue to collaborate and consult on a regular basis, on, almost, every project we have undertaken or are under consideration. We encourage you to get committed so together we can make a difference.

William C. Paasewe
National Treasurer
EES/EHS ALUMNI ASSOCIATION OF AMERICA

Previous Year's Budget

Click here to see the 2010-2011 financial statements.