Greetings:

We are pleased to submit the budget for the fiscal period 2013/2014. In the past years, the budget was developed based on expected increased in member's participation. We have always been overly confident that we would have about 70% participation level. That assumption has not proven correct over the years. Consequently, we continue to adjust the numbers downward to reflect the participation level. The 2011/2012 projection reflects a projected 40% participation level. This projection is directly linked to the conviction that members will be encouraged by all the projects that are nearing completion, such as the Science  lab or projects that are in progress, such as the purchasing of a generator for the lab, and in particular the payroll funding for the teachers. The net results of actual financial activities ending 2012/2013 do not support these assumptions or convictions. Instead, the results reflect a 12.2% of membership participation level.

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 substantial adjustment in members' participation level to the introducing of the concept of mini-rally.

In 2011/2012, the yearly due of $100 was adjusted to $150.00. Reconstruction contribution remains at the same level of $200.00. The increase in the due is designed to help increase in receipts. It has been observed that except for a few members, payment of reconstruction contribution has not been fulfilled. Dues, on the other hand, are paid by most members at the start of the convention or when nearing the convention. The non-payment of reconstruction contribution means the reliance on dues to continue payroll funding and to carry out other projects.

Relying on dues as major source of funding payroll and other projects would require increase in members' participation level. The current level of payroll funding at 60% annually is about $12,400. To meet this level of payroll funding from payment of dues will require a minimum of 85 (85*150.00) committed members. For 2013/2014, the budget has been tailored using the historical costs to guide the process. Member's attendance to convention has averaged 25 members' participation level. In view of this information, the averaged 25 was selected as the basis to deriving projected receipts from dues and reconstruction contribution.

Cash Statement

Summarizes cash inflow and outflow. It also shows the total cash balance brought forward as at the end of August 2013. The ending balance as of the date indicated is $12,995. (See the breakdown below).

The balance of $6,500 in the Reconstruction account comprises $6,000 contribution from the St. John's In the Village of New York, for the purchasing of a pick-up truck for use by the school.

For details, see the Financial Statement for 2012-2013 (in PDF) and Notes to the Accounts (in PDF).

Statement of Receipts

Reflects estimates of receipts from reconstruction initiatives, annual dues, donations, Memorial wall, and mini-rally and convention activities. Total budgeted from receipts for fiscal 2013/2014 is $14,250. In calculating the budgeted receipts from reconstruction, it is assumed that 40% of the averaged 25 participants will be collected; this translates to $2,000 for 2013/2014. It is further assumed that during the year 2013/2014, the averaged 25 (minimum of 25) will meet their full payment of $150 due; this translates to $3,750. Other budgeted receipts include $5,500 for donation towards the purchasing of the pick-up truck project; and $2,000 from mini-rally.

For details, see the 2013-2014 Budget (in PDF format).

Personnel Costs Funding

This budget has remained at the same level from the previous year. This entails funding of salaries/wages and housing allowance for principals, administrative staff, teachers and support staff. The total budgeted personnel cost for 2013/2014 is $12,409. This amount includes $7090.00 for the High school, and $5,319 for the Elementary school.

Both amounts include $670.00 and $609.00 respectively for housing allowance for principals, teachers and support staff.

The combined personnel costs to the Alumni Associations of America and Liberia are estimated to be $20,683. This amount represents 57.8% of total personnel costs.

Project Costs Funding

This entails funding a minimum of one project every year. For this fiscal year, two projects have been considered in this budget. The projects include a 20kva generator estimated at $5,000.00 and repairs to the high school building due to erosion.

Last year we took on the renovation and purchasing of the lab equipment for the chemistry, biology and physics labs. The total cost of the project is $19,232. This consists of lab equipment purchases and transportation to Liberia, totaling $10,400; renovation cost of about $3,500; and a 20kva generator estimated at $5,000. Except for the purchasing of the 20kva generator, the project is about complete. The Liberia chapter is working on details to set up the lab for students' use.

Operational Costs

Entails the costs of operating the Alumni Association of America. These costs include: professional fees, shipping, travels, and postage and office supplies and newspaper ads.  The total of operational costs is $1,950.00. Included in this amount is $1,100, for professional fees and website maintenance, $350 for newspaper ads; a provision of $300.00 is included as miscellaneous item.

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 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 2011-2012 financial statements.
Click here to see the 2010-2011 financial statements.