In June, I said that I wouldn’t be voting to approve the LITA budget, due to a variety of unaddressed concerns. At Annual, Cindi Blyberg ran an awesome meeting where we put off the vote, to give our Financial Advisory Committee time to update things before the fiscal year close. And then I forgot to update the blog about the subsequent meeting!
Well, the FAC did outstanding work, pulling together a budget that I solidly believe in, on very little notice. (I owe you all beers. A lot of beers. Zoe Stewart-Marshall, Andrew Pace, Susan Sharpless Smith: please be thinking what kind of beverages you like.) We approved it in August with very little fuss. I was pleased to vote for it.
You can have a look yourself if you like: FY2015 budget [.xlsx].
You’ll notice the bottom line here is a deficit. I’m bummed about that, because I’m concerned about LITA’s health, but mostly I’m happy about it, because it’s honest. I think the lines above it are credible estimates of what we’ll end up doing in FY ’15, and I would a million times rather be honest about the challenges of that, so we can plan for them, than sweep them under the rug.
And now the FAC is off and running on the FY ’16 budget, with a timeline that should allow for much more deliberation at leisure than FY ’15 allowed. (Note to self: you owe them even more beers.) And Board is pondering how to fill the holes. Your ideas, as always, are welcome.