by Jamye Sagan, IDL SIG Treasurer
How much money do we have?
As of September 27, 2021, we have $789.67 in our account – $273.34 from community funding and $516.33 in our vested funds.
Since Q2, we have incurred the following expenses: two speaker honoraria for our July 14 and September 15 webinars. We even made almost $16 profit through non-SIG-member webinar registrations.
In the next couple of months, we will submit our reimbursement requests for our Zoom and Survey Monkey subscriptions. We use Zoom to conduct our educational webinars, leadership meetings, and virtual social events. We use Survey Monkey for our demographic surveys and elections. We also plan to purchase some small raffle prizes for our upcoming virtual social events – our annual Virtual Open House sometime in November, and our First Friday at Five event in December.
Budget Time! Where do we get our funds?
We are about to begin working on our 2022 IDL SIG budget. Every year, all STC Chapters and Communities of Practice submit their budgets to the STC head office. From there, the budget committee will review all budgets and approve them.
Our primary source of income comes from community funding and vested funds. Community funding are funds we receive from the STC office, based on the number of SIG members as of August 31. We receive a certain dollar amount per member. Since these funds do not carry over from year to year, we must use them or forfeit them. We plan our budget so that we spend all of our designated funding.
Vested funds are funds we have earned through the years. These funds can carry over year after year.
As we review our budget, we constantly check where we can save costs and, most importantly, see how we can use our funds to best benefit you – our members.
We’d like to hear from you!
If you have any questions about SIG finances, please email me at firstname.lastname@example.org.