2017 Proposed Budget

After careful review, we would like to present you with our proposed 2017-2018 SAC-ASHRAE, 60th Anniversary Budget. This year, we have a few big ticket items that will run us into a deficit, and I would like to take a minute to explain some of these items:

CRC – Alaska: In 2019, the Chapter Regional Conference (CRC) will be taking place in Alaska. Due to the additional costs associated with this trip, we would like to put away a small amount to offset the cost from next year’s budget.

Past President’s Night: This year, we will be celebrating both our 60th Anniversary as well as Past President’s Night on October. We would like to set aside additional funds to make this a special event for everyone.

RP – Chapter Endowment Fund: Over the past number of years, our checking account has had a very healthy balance due to our successful budgeting. As of June 30th, 2017 (the end of the 2016/2017 year), our checking account balance was $35,638.10, along with a GIC of $10,570.90. This has put us over the recommended operating balance of $20,000.00 for our type of organization.

In order to bring our accounts in line with the recommended amount, we would like to implement a two year plan to invest in our SAC ASHRAE RP Endowment Fund.

For those who are not familiar with an RP (Research Promotion) Endowment Fund, it is a contribution made to ASHRAE RP, but the initial funds are invested by an ASHRAE committee and never spent. The committee guarantee’s a return of 5%, which is then donated to the contributing chapter’s RP campaign on behalf of the initial donor. This provides perpetual donations to the chapters RP campaign.

Our plan is to invest $10,000.00 into our existing SAC ASHRAE Endowment Fund in 2017/2018, along with another $10,000.00 in the 2018/2019 year which will bring our Endowment Fund balance to $27,000.00 by the end of the 2018/2019 fiscal year.

Should you have any questions or concerns about our proposed budget, please do not hesitate to contact myself, or one the board members at any time.

David Lamarre - Secretary/Treasurer



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