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HomeMy WebLinkAbout2023.2024 Approved 6-28-23 Budget (1)Budget 2023-2024 Forecasted ACTUAL 2022- 2023 Actual YTD May 2023 Budget 2022-2023 Notes Revenue 4000 Corporate Contributions 300,000.00 311,277.48 311,277.48 360,000.00 4100 Individual Contributions 100,000.00 254,936.50 254,936.50 200,000.00 Large donation by one individual historically; unsure of future contributions 4200 Grants 4200.1 Healthy Opportunities 126,213.04 389,004.23 361,217.27 550,220.00 Maximum allowable $154000; grant period 6/1/23-5/31/24 4200.3 KB Reynolds Grant 340,904.82 274,276.44 258,215.62 Year 2 of Grant; recognized based on expected expenditures 4200.4 City of Wilmington-ARP 100,000.00 150,000.00 72,236.94 250,000.00 Unspent balance on Grant 4200.5 City of Wilmington 0.00 0.00 0.00 750,000.00 Will request budget amendment if grant is approved Federal Home Loan Bank of Atlanta 475,000.00 4200.6 NHCEF 0.00 70,000.00 70,000.00 4801.1 Smart Start Service Agreement 0.00 33,000.00 33,000.00 4801.2 Impact Health 0.00 30,000.00 30,000.00 Total 4200 Grants $ 1,042,117.86 $ 876,280.67 $ 754,669.83 $ 1,550,220.00 4300 Management Fee 351,400.00 351,400.00 300,716.67 325,000.00 4800 Services 0.00 500.00 500.00 162,000.00 4800.10 UMBC 66,500.00 23,333.35 14,000.01 Remaining balance on agreement 4800.3 NCPC Service Contract 0.00 1,100.00 1,100.00 4800.4 CCNC 23,735.00 125,000.00 125,000.00 150,000.00 Remaining balance on agreement 4800.5 CCLCF 5,000.00 5,000.00 5,000.00 5,000.00 Remaining balance on agreement 4800.6 Onslow County Health Department 0.00 12,000.00 12,000.00 4800.7 WRC Tech Talent Initiatve 0.00 40,000.00 40,000.00 190,000.00 4800.8 TDI 0.00 50,000.00 50,000.00 NHCE 100,000.00 0.00 0.00 New Agreement; will move to Grant Header when loaded into software PACES 53,500.00 39,444.45 23,666.67 Remaining balance on agreement 4800.9 UNC Wilmington 0.00 30,000.00 30,000.00 Total 4800 Services $ 248,735.00 $ 326,377.80 $ 301,266.68 $ 507,000.00 4999 Interest Income 8,500.00 10,408.09 8,283.09 9999 CC Rewards 0.00 25.00 25.00 Total Revenue $ 2,050,752.86 $ 2,130,705.54 $ 1,931,175.25 $ 2,942,220.00 Total Collective Impact in New Hanover County, Inc Proposed Budget - 2023.2024 Expenditures 6001 Recruitment & Job Posting 2,000.00 0.00 400.00 6002 Capital Expenditures < $2000 2,000.00 0.00 2,000.00 6003 Repairs & Maint - Equipment 500.00 0.00 500.00 6004 Professional Development 42,500.00 5,069.78 5,069.78 30,000.60 $5k/EE; 1 EE @ $2.5k 6005 Team Travel & Conferences 10,000.00 7,424.56 7,424.56 20,000.00 6006 Office Supplies/Materials 10,000.00 7,596.88 6,996.88 2,500.00 6007 Meeting and Convenings 5,000.00 4,977.12 4,977.12 2,000.00 6009 Branding/Marketing 2,500.00 3,188.12 3,188.12 15,000.00 6010 Website, Email and Technology 5,000.00 14,366.54 14,366.54 3,600.00 6012 Contract Labor 130,000.00 96,720.00 89,220.00 98,000.00 Sales: Fractional CFO; Finance Coordinator; TBD 6013 Videography/Photography 0.00 2,862.25 2,862.25 6014 Branded Materials (combining with 6009)0.00 237.55 237.55 1,000.00 Combining with account 6009 6015.10 Salaries Expenses 1,086,530.00 1,083,201.36 1,000,201.36 1,515,177.83 Removing Finance Director; adding Investment Director; annual pay increases of 6% 6015.50 Payroll Taxes 86,922.40 87,099.15 80,587.15 0.00 6015.60 Payroll Fees 2,688.80 3,834.28 3,549.28 4,000.00 6015.70 Benefits/Fringe 98,475.84 121,547.43 119,047.43 0.00 Based on actual elections 6015.8 Retirement Admin Fee 2,000.00 2,067.79 1,900.79 0.00 Total 6015 Payroll Expenses $ 1,276,617.04 $ 1,297,750.01 $ 1,205,286.01 $ 1,519,177.83 6016 Accounting Expense 8,400.00 9,336.26 8,736.26 16,000.00 $700/month - Bookkeeping 6017 Data Platform Implem/Contracts 30,000.00 20,534.68 534.68 15,000.00 6022 Community Engagement Contract 0.00 1,341.29 1,341.29 6023 Prof/Organ Membership Fees 2,500.00 2,570.00 2,470.00 6024 Bad Debt 0.00 20,000.00 20,000.00 6025 Office Space Rent 14,400.00 0.00 0.00 24,000.00 Expected $1200/mo x 12 months 6026 Community Events and Sponsorships 10,000.00 8,504.23 8,504.23 4,000.00 6030 Insurance Expense 12,000.00 9,576.50 9,076.50 6,105.00 6033 Share Care Network Software 660.00 660.00 660.00 6036 Community Support Programs (deleted)0.00 0.00 0.00 10,000.00 6038 Electronics & Software 5,900.00 1,990.68 1,990.68 6200 Grant Expense 575,000.00 150,000.00 72,236.94 COW - ARP funds paid 6502 Bank & Merchant Fees 750.00 479.33 479.33 6503 Depreciation Expense 0.00 0.00 0.00 6600 Legal & Professional Fees 75,000.00 58,087.03 58,087.03 6800 HOP Expenses 0.00 31.97 31.97 6800.1 Recruitment 0.00 500.00 6800.2 Communications 0.00 234.92 234.92 3,000.00 6800.3 Equipment 0.00 10,000.00 6800.4 Software 0.00 158.10 158.10 5,000.00 6800.5 Rent or Lease of Buildings 0.00 360.50 360.50 6800.6 Travel 0.00 151.67 151.67 15,000.00 6800.7 Office Expense 0.00 (1,762.37) (1,762.37)2,500.00 6800.8 IT Management 0.00 2,500.00 6800.9 Payroll Expenses 0.00 199.72 199.72 9,000.00 Total 6800 HOP Expenses $ - $ (625.49) $ (625.49) $ 47,500.00 Total Expenditures $ 2,220,727.04 $ 1,722,647.32 $ 1,523,120.26 $ 1,816,783.43 Net Operating Revenue $ (169,974.18) $ 408,058.22 $ 408,054.99 $ 1,125,436.57 Other Revenue 9990 9990 CCofW 9991 CCofW Income 48,000.00 1,000.00 1,000.00 9992 CCofW Expense (48,000.00) (1,000.00) (1,000.00) Total 9990 9990 CCofW $ - $ - $ - $ - 9995 EJI/NHCCRP 9996 EJI/NHCCRP Income 1,000.00 9.41 9.41 9997 EJI / NHCCRP expenses (1,000.00) (284.00) (284.00) Total 9995 EJI/NHCCRP $ - $ (274.59) $ (274.59) $ - Total Other Revenue $ - $ (274.59) $ (274.59) $ - Net Other Revenue $ - $ (274.59) $ (274.59) $ - Net Revenue b4 C/O funds & Depreciation $ (169,974.18) $ 407,783.63 $ 407,780.40 $ 1,125,436.57 Reserve Carryover 0.00 - - - 6503 Depreciation Expense (noncash)25,737.88 25,737.84 23,593.02 Net Revenue $ (195,712.06) $ 382,045.79 $ 384,187.38 $ 1,125,436.57 Cash @ 5/31/23 887,456.92$ (less) Deferred Revenue (374,352.76)$ Available reserves 513,104.16$ Potential Grants/Service Contract not included in budget City of Wilmington - Transfer to LLCs 650,000.00