BUDGET

The IGFOA follows a July 1 through June 30 fiscal year. 

FY2010 Budget (click here for complete budget) as adopted by the Executive Board on June 11, 2010

  FY09 FY10 FY11  
  Actual Est Actual  Adopted Budget Notes 
Income        
   Public Sector Dues       107,479 106,500 109,163 2.5% growth
   Associate Dues         88,470 88,000 98,200 2.5% growth
   Total Dues Revenue       195,949 194,500 207,363  
   Publications Fee Based Revenue         12,900 9,000 19,850 new job posting service and revenue survey
   Contract Revenue            7,340 7,500 13,100 FY11 renegotiate contract
  Annual Conference Revenue       116,803 106,900 101,600  
   Career Development Revenue         60,788 65,000 69,700 static thru FY12 rebounds 2.5% in FY13+
   Events Revenue         46,915 9,720 1,720  
   Other Revenue           3,108 300 300  
Total Income       443,802 392,920 413,633  
Expenses        
   Management Service Contract       239,789 239,141 228,572  
   Publications Fee Based Expense           1,132 0 12,567 Jobline and revenue survey
   Executive Board Expense         11,022 6,600 4,200 meet at no-cost sites
   Chapter Support Expense           2,675 5,000 5,500 mirrors membership growth
   Other Contracts and Services         28,092 25,967 28,225  
   Annual Conference Expense         76,349 58,000 58,310 expenses inc 2.5% each year
   Career Development Expense         29,446 36,000 32,400 expenses inc 2.5% each year
   Committee Expense           6,540 11,100 13,550  
   Events Expense         34,410 5,460 1,290  
Total Expenses       429,455 387,268 384,614  
Net Income         14,348 5,652 29,019  
         
Beginning balance       188,726 203,074 208,726  
Ending balance       203,074 208,726 237,744  
reserve 50% of assoc mgmgt contract cost       119,731        118,571       112,786  
Unreserved balance         83,342 90,155 124,958  
 % of revenue 19% 23% 30%  

 

FY2010 continued to challenge the association as local governments struggle with the economy.  T he Executive Board adopted a very conservative budget and plans to pursue several new revenue sources in FY10.

  • offer IGFOA Revenue Survey on a subscription basis
  • deliver select training through video conferencing
  • upgrade IGFOA Jobline to allow 24/7 posting and resume posting
  • increase administrative charge for contract services to capture full cost of overhead
  • move to smaller office for staff
  • restore legislative consultant services to FY09 level
  • overhaul website combining separate public and members only sections
  • eliminate reception at national GFOA Conference beginning in 2011
  • hold Board & Committee meetings at "no cost" sites
  • hold in-person training at "no cost" sites

These measures are expected to save the association $21,431 and reduce expenses by 6%.

 

2008 BUDGET

The 2008 Budget follows a year of transition for the IGFOA. The Association staff officially became staff of Northern Illinois University’s (NIU) Center for Governmental Studies in 2007, and the Association office moved to the NIU Naperville Campus. The proposed 2008 Budget focuses on strengthening the Association’s finances and recognizing the benefits of the NIU move. In 2008, the IGFOA plans to raise $414,981 in revenue (3% increase from 2007) and have $416,294 in expenditures (3% decrease from 2007). The 2008 Budget anticipates a $1,313 operating deficit. Review the 2008 budget and report at

The IGFOA expects to raise an additional $24,697 in public sector and associate dues in 2008.
• The Membership committee recommended dues increases that will account for a 15% increase in public sector dues to defray Association costs for office space rental, the addition of health and retirement benefits for staff, and incremental increases in expenses since the last dues increase in 2004. This is the second public sector dues increase in the last ten years. Public sector dues continue to follow a sliding scale based on member’s salary.

• Associate member dues increases, as recommended by the Associate Forum, raise the Individual member rate to $475 and the Sponsoring Firm dues increased to $1575, with additional Sponsoring member fee upped to $200, to make those dues comparable to other in-state associations relative to membership size and benefits offered. This change also returns Associate dues to the 1:3 ratio of Individual to Sponsoring dues initially developed with this dues structure.

2008 Budget as adopted by the Executive Board on November 30, 2007

2008 Budget Report

IGFOA 990 Reports to the IRS


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