The budget
Unapproved budgets get sent back to the Financial Advisory Committee for rework. During the budget year, anything that is not approved in the annual budget that will lead to a budget variance may need board approval.
The BOD sets goals for the coming year, reviews the strategic plan, and identifies priorities—as either specific projects or outcomes. The board directs committees on their charges and asks what financial and staff resources they will need to accomplish them. Committees submit budget requests for their initiatives to the executive director. Their needs include staff time, travel, and software that are program- or initiative-specific. With cross-committee communication, AORE has enjoyed leveraging resources that historically stayed separate. Sharing resources this way has allowed committees to make a greater impact and to redistribute funds.
AORE’s budgeting process takes a long-term view and considers risk exposure. Only the board can decide what to remove from the budget. This might mean dropping a committee project or not giving a grant.
Here are some of the benefits members get out of the money AORE spends:
FAQs
Where does AORE’s money come from?
In 2017, about $420,000 came from conferences and other programs and services. Nearly $145,000 came from membership, grants, gifts, investments, and other sources.
What does AORE spend its money on?
In 2017, AORE spent about $453,000 on programs and services, and nearly $113,000 on management and general expenses, including rent, insurance, office, and accounting expenses. We spent nearly $25,000 on fundraising, which includes advertising, promotion, and IT.
Who’s responsible for the annual conference budget?
The conference planning leads develops the budget using actual numbers to meet their proposed programming needs. The board must approve the budget, and then the conference host plans and manages it. The AORE treasurer and executive director propose conference registration pricing options for the BOD to approve.
What financial needs are there behind the scenes?
AORE needs to be able to plan for staff changes, as well as technology and infrastructure update—proactively rather than reactively. Work to build higher-level philanthropy for the long term also incurs costs.
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