On 8-2-2015 21:08, Bryce Harrington wrote:
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.
OK, so that was my question: your proposed "budget" is the target money to spend from our savings, not the total cost of the items listed. I find this a very confusing budgeting method. Isn't it easier to make a budget like a normal budget? For example for the hackfest: we budget 10k for the hackfest. That way, we can plan on the hackfest actually happening. Our savings will then buffer if not enough donations come in for it. People will have to make plans and spend money soon to be able to attend the hackfest, so we need to guarantee that it is going to happen. Considering our savings amount, we can easily do so.
(I will not be attending LGM nor the hackfest btw.)
ciao, Johan