Item 3F (i) - Attachment A
FY 2022-23
Estimated
FY 2023-24
Proposed
BEGINNING NET ASSETS AS OF JULY 1 121,992 126,196 1
REVENUES
Operating Revenues
Member Dues 138,000 138,000 2
Subtotal Operating Revenues 138,000 138,000
Projects and Programs 566,996 2,731,694 3 TOTAL REVENUES 704,996 2,869,694
TOTAL ASSETS AS OF JULY 1 826,988 2,995,890
EXPENDITURES
Operating Expenses
Contract Services
Contract for Executive Director Services 120,000 120,000 4 Metro Deputy Shared Salary 1,832 1,832
Administrative
Travel and Conferences 60 50
Board Agenda Printing 1,500 500
Board Luncheon 2,700 2,700
Website and Virtual Meeting Services 504 1,100 Audit Services 7,000 7,000
Bank Fees 200 200
Subtotal Operating Expenses 133,796 133,382
Projects and Programs 566,996 2,731,694 3 TOTAL EXPENDITURES 700,792 2,865,076
CHANGE TO FUND BALANCE 4,204 4,618
ENDING ASSETS AS OF JUNE 30 126,196 130,815
Required 15% Contingency Reserve of Operating Revenues 38,999 39,629 Net Assets in Excess of Reserve Requirement 87,197 91,185 1 2 Based on current annual WSCCOG membership dues of $23,000 per WSCCOG member. 3 4 Based on current contract with Estolano Advisors for Executive Director Services at $10,000 per month.
WSCCOG PROPOSED ANNUAL BUDGET
FISCAL YEAR 2023-2024
Fund balance as of July 1, 2022 based on the FY 21-22 financial audit.
Based on estimated expenditures as of June 30, 2023. Refer to Attachment B for details of the WSCCOG Programmed Funds from the County, Metro, and SCAG.