Page 119 - July 2020 Board Meeting Agenda_Neat
P. 119
Compared to the 2020 budget, our projected income levels are approximately $42,000 lower and
our expenses are $26,100 lower. As a result our proposed 2021 budget assumes a $22, 597
operating loss for the year.
If COVID_19 remains around for the majority of 2021 then this may further impact our
membership numbers, but it will again be offset by a saving in the proposed travel expenses.
If the world economies recover from COVID -19 then we may see an small increase in our
membership numbers and an increase in our advertising income, which will offset the projected
operating shortfall.
The following pages display our 2021 Budget and the assumptions behind the various estimates.
Funding Subcommittee:
Unfortunately, due to workload pressures and the need to address other urgent IAATI matters,
there has been no progress with this subcommittee.
