On Sat, Feb 07, 2015 at 08:14:41PM +0100, Johan Engelen wrote:
Shouldn't we include the expect 'income' in this discussion ?
It's not quite so simple. Read below.
In that case, from the past years, we can expect ~$7k (plus perhaps some extra if hackfest PR works). That means we'd expect to be spending ~3k of our savings. Not saying we should spend much more, but wanted to give some counter to spending 1/3 of our savings.
I am not up-to-date on the Hackfest planning, but I assume LGM+Hackfest=5k is enough? (the 5k would be total cost, regardless of how the money is gathered (our savings or donations))
As Tav points out, something in the $10k range would be the target. You may recall the original idea for the hackfest was for it to be self-funded through fundraising. I included $2,500 in our budget from out of our bank account not as the main funding but more to supplement it, in case we don't raise the full amount. So, the budget is set up with the expectation that $7500 (or whatever) will be coming in to cover the remaining costs.
Will we also be getting another $7k on top of this, for the general funds? I examined the donations that came in through the month of January. I've included the data in the attachment, including the memos that were included (someone ran a calendar fundraiser on our behalf!)
You'll note that prior to Jan 17th donations were exclusively going to the General fund, and after Jan 17th they're going almost exclusively to the hackfest. Also, the total amount donated for January is $559 (1/12th of 7500 would be $625, and 1/12th of 7500+7000 would be $1208).
So, the data seems to be saying that all donations are going towards the hackfest right now. We're far from being on track for bringing in the $7500 we'd need for that, even if we kept the fundraising going all year.
Perhaps we could include a small budget for "items" type of stuff? Stickers or t-shirts? (even though we may expect/intend to sell the items, it is still a cost initially)
Hmm, not a bad idea. Maybe we could set aside $500 or so for "To Be Determined Later", which we can use as random expenses and other things come up like items inventory or swag. Then whatever is left unspent we can use for donations to OSUOSL and other organizations.
Bryce