Strategic Financial Task Force Info
Work in support of existing
programs and services
Work specific to the Strategic Plan
RE$OURCES
Work that would support emerging
opportunities
1
Strategic Financial Task Force Objectives
• Provide Financial awareness and education among
volunteer leaders
• Provide desired targets for income sources/expense
sources
• Understand HOW to align Strategic Priorities with
available resources
• Provide methodologies for better business planning
and tools for informed decision making
2
Financial Awareness and Education
• Developed an Inventory of materials and proposed
training owners
• Finance Committee and Treasurer now OWN this
action with LCC/CLCC
• Continuous Awareness and Education can occur
with volunteers based on new materials
3
Targets – Income Sources
• Increase membership income – higher dues or more people with
various levels dues and services
• Increase Conference fees
• Change Professional Development Model – members get ## free and
then pay for additional
• Increase Publication income - includes other publications defined as
Intellectual property
• Increase our ‘Technical Standards’ - provide Skilled Employees as
consultants to others to provide services we are skilled at – research,
leadership model
• Consider Other Income sources – regions/Sections for example for
short term budgets
4
Targets – Expense Sources
• Decrease Conference Expenses relative to income
• Review General and ADM expenses for reductions or
capability of recovering costs (and tracking of
recovery)
Expense Note:
• Data clean up needed for identifying missing expenses
• Public affairs and other need to be tracked better
5
Institutionalizing – Tools/Capabilities
Tools
Sources Action/timing Tracking Excel
Maintain P and S forms to include Finance
information and continue to focus on financial
impact
Owner
Treasurer
Treasurer with SPC chair
Financial Information included in annual Program
and Services review
SPC chair
Resource mapping to Strategic areas (document to
share with BOD) Include Funds information
Finance Chair and TBD*
Report - Resources by strategic areas - 3 year view
- past year, current year, next year (unless timing
drives to 2 years history and current year) for input
for Strategic plan review
Finance Chair and TBD*
Budget mapping to CESSE areas
Report - dollars by CESSE areas to compare to
other orgs
Finance Chair
Finance Chair
*Pending outcome of SWE Reserves Task Force
6
Report – dollars by area
10.8% avg total
Actions – review scholarship (BAU?), add membership program item for
2012, define fixed vs variable if possible)
7
Annual Comparison – Income
8
Annual Comparison - Expense
9
Use of Tools
• Provides Financial positioning
• Strategic areas
• Sources of income/expenses
• Defines comparative information for use in
Strategic planning and for comparing to CESSE
• Need to do on an annual basis – prior to
strategic planning and planning for FY+1
(including operating plan and budgets)
10
Strategic Planning
• Include the strategic budget info for Strategic Plan Review (ASPR)
• agreed upon by SPC
• Update the strategic planning process to include financial info for
objective planning
• agreed upon by SPC and they are identifying how to add in
• Understand how we are spending money today to drive where do we
add/change
• Joan to write up a ‘script’ to use for the first year
• Understand the income/expense sources to define anything new as a
result of strategic plan updates and assumptions
• Define what the Financial plan looks like within the Strategic Plan
• Defined it to be in the area by the goals/objectives using Strategic
charts
11
Strategic Financial Planning
Complete Task Force Deliverables
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Update training materials required for annual leadership training
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Inventory of materials
Identify proposal for training
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Common mapping
Identify suggested targets
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Common mapping
Identify suggested targets
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Updated P&SA form for FY11 assessment
Review after P&SA for any updates/changes
Desired ‘targets’ for Income Sources
DONE
Desired ‘targets’ for Expense Sources
(new deliverable added at BOD2)
Methodology for ongoing tracking and reporting for Programs and
Service Financial information
12
Strategic Financial Planning
In-Process Task Force Deliverables
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Methodology for action tracking for Financial Plan (identified)
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Plan for February telecon
•
Plan for February telecon
•
All tracking to be done by April telecon
•
Proposal by BOD3
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First draft by April telecon
Final version approved by BOD4
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First draft by April telecon
Final version approved by BOD4
•
Provide to board on BOD4
Included in
previous slides
(almost done)
Methodology defined for the Board to use for financial decision making
(working)
Methodology to track targets of Income Sources (Identified)
Methodology for and understanding of SWE Financial goals and ongoing
efforts (identified)
Update Strategic Financial Plan (prior to BOD4)
Documented Strategic Financial Planning process that is integrated with
the Strategic planning process (started)
Recommendations on improvements for financial planning and activities
to the board (all above will cover)
13