2010 Budget Process

The process began in June of 2009 when we presented our recommendations to the Operations Committee for the employee compensation for the coming year. The Operations Committee reviewed our recommendations and presented them to the Board of Directors for approval at the June 2009 Board of Directors meeting.

The next step in the process was to take the actual financial results from January through June of 2009 and combine them with the actual results from July through December of 2008. This gave us twelve months of actual numbers to begin with.

Once this initial document was created, we copied it and renamed the copy the 2010 "Working Budget". Melinda and I then went through this "Working Budget" and did our best to project revenue for the following year, remove expenses we knew would not occur in the following year and update the "Employee Expenses" based on the approved payroll budget. We completed this review for all of the following Revenue and Expense categories.

1) Service

2) Retail

3) Gas Dock

4) Haul Out/Launch

5) General

6) General & Administrative Other Costs

7) Other Income and Expense

When this part of the process was completed, we presented the "Working Budget" to the Finance Committee at the July 2009 meeting. The Finance Committee completed a thorough review of the "Working Budget" and requested revisions in certain areas of the document. These revisions were made and the "Working Budget" was re-presented to the Finance Committee in August of 2009. At this point the Finance Committee approved the "Working Budget" and took it to the Board of Directors for their approval so that it could be included in the September Membership Meeting Presentation.