Executive Summary: One time Insurance payments and a large, retroactive electrical bill reduced the significant cash reserves of the organization in the last period. Running a Hackerspace requires electricity, so a budget of number of $ 200.00 per month has been incorporated into future projections. Some potential near term relief is seen from student memberships originating from Sisler High School and the recruiting of full members has shown some increased momentum, Octopi will be contributing an additional $100 in August/September for the Student Intern desk rental. Generous donations from members cushioned the blow from the over 800.00 electrical bill. The outstanding electrical bill will be budgeted at $ 400.00 for the next two months to catch up to the balance owing. There needs to be an organizational emphasis on recruiting new members and planning, supporting and executing fundraising events.
Financial Update: 42 Full Members @ 40.00 = $1680.00 7 Students @ 20.00 = $140.00 Reliable Income: $1820.00 Rent: $2100.00 Rate of Loss: - $280.00/month Electrical Budget: - $200.00/month Monthly Loss: - $480.00/month Traceable Donations (Paypal): Nathan Wild $ 200.00, Michael Legary $ 100.00 = $300.00 Untraceable Donations: $ 145.00 Expenses this period: Siusan Hample: $212.01 (Supplies) Johnson Insurance $1090.30 (374 Donald Insurance) Red River Mutual $858.14 (Board Member Liability Insurance) 50% of Hydro Bill $ 400.00 Current Bank Balance: $4145.95 + 300 (Paypal) = $4445.95 Burn Rate: (includes another two $400.00 payments to Hydro over the next two months to catch up, and budgeting a current rate of loss of - $480.00 per month (280+200 hydro) = 7 months before we are broke, lights go out: 1 Jan 2014 Upside: Sisler High School Student Membership and one Potential New Member in the pipeline. Revised Recruiting Target (based upon a $200 dollar per month electrical bill) 58 Full Member Equivalents to break even. Recruit Recruit Recruit. Ian
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