Financial Management For Chapters - Keys To Success PMI Learn

Financial Management for Chapters:
Keys to Success
Tejas Sura, PMP, Region 11 Mentor

Past President and Past Treasurer, PMI Mumbai Chapter
May 03, 2014
Agenda
Vice-President of Finance/Treasurer/Finance Director

Roles, Responsibilities, Onboarding and Transitioning
Sources of information from PMI
Trainings available on PMI Learn
Policies and Procedures - Applying PMBOK processes

Cost Management Estimates and Budgets
Financial Management
Planning
Administration and Records
Control
Statutory & PMI requirements
How many of you are chapter board

members entrusted with Finance function?
Presentation Title
How many of you have handled finance

function at your day job?
Presentation Title
Financial Management for Chapters: Keys to Success
VICE-PRESIDENT OF FINANCE/
TREASURER/FINANCE DIRECTOR
Role Description
As per 2011 PMI Volunteer Role Delineation Study
Volunteer responsible
for finance.
All financial records
required for chapter
operations in
accordance with
chapter and bylaws.
Presentation Title
Roles And Responsibilities

Financial planning/goal setting, investing, forecasting and
budgeting (Annual Operating Budget)
Accounts receivable and payable and all financial portfolios
Chapter bank accounts and/or similar financial transactions
Up to date inventory of all the goods of the chapter
Monthly financial reporting to board, executive level volunteer
leaders (Board Meetings), PMI (Charter Renewal)
Required tax filings
Fnancial operational processes
Roles And Responsibilities

(contd.)
Chapter policies
Chapter contract, agreement and insurance
Information to independent auditors as required
Annual financial statements and reports
Distribute/communicate finance report to chapter membership
Maintenance and storage of all historic financial documents
Succession and transition plan
Roles Specific Skills
Documentation Skills/Financial Record Keeping

Knowledge of Financial Planning
Knowledge of Generally Accepted Accounting Principles
(GAAP)
Accounting Software/Tools (e.g. Quick Books/ Excel)
Analytical Thinking
Best Knowledge of Economics
Legal Awareness
Other Leadership Skills
Negotiation Skills
Time Management Skills
Adaptability/Flexibility
Conflict Resolution Skills
Technical Tool Skills (e.g. Webex, Live Meeting, Registration
and Event Software)
Other Information from Survey

Average Years of PM Experience
Approximately 17 years
Average Years of PMI Volunteer Experience
Approximately 5 years
Average Volunteer Hours Spent Per Month On Role
Approximately 12-13 hours
Non-Profit Board Member Duties

Care
Loyalty
Obedience
Integrity
Please Remember ..
Financial management is key to component operations and
future growth
Professional approach to governance and operations is
necessary for a smooth running organization
Ethical behavior is critical to carrying out your fiduciary
responsibility
FINANCE
Onboarding and Transitioning

Source: PMI Chapter Leaders Guide 2014
Inboarding (Prior to assuming position)
Familiarize yourself with the roles and responsibilities
Review current program, strategic plan and tactical plans
Meet with existing Board member and key volunteers
supporting this area of chapter operations to discuss
Ongoing initiatives
Issues of concern
Challenges
Opportunities
Onboarding and Transitioning

(contd.)
Onboarding
Review Bylaws, Governance documents and Strategic Plan
Sign Confidentiality agreement and review Meeting Minutes
Acquire Budget, Annual Operations plan, Audit Report,
Financial Metrics and Guidelines from previous year
Review Financial Reports and Annual Reports
Process Audit Reports
Understand Tax requirements (Meet with CPA)
Understand laws for non-profits (Meet with Legal counsel)
Standard operating procedures
Accounting system, Banking, signatories and procedures
Sources Of Information from PMI

Component System
Business Records
Legal Records
Financial Records
Insurance Records
Tax Records
Dues Specifications
Data Exchange Program (DEP) Month-End and Real-Time
to be discontinued
Chapter Reporting System Finance Tab - Transactions
Charter Renewal Financial Information & Operational
Performance sections
Sources of Information from PMI

Online Community
Community Leadership
Share
Documents
Document Exchange
Document
Toolkit
Finance
Trainings Available on PMI Learn

Take the LI Virtual
Seminar Series
Chapter Leader
Orientation
Chapter Leaders Guide
Strategies for
Onbarding and
Transitioning
HMM16: Finance
Essentials
POLICIES AND PROCEDURES
Applying PMBOK Processes to Chapter

Finances
Cost Management (PMBOK)
Plan cost management
Estimate costs
Budget costs
Control costs
Financial Management (Construction Extension to PMBOK)
Financial planning
Perform financial control
Financial administration and records
Plan Cost Management

Decide on methodology for cost management
Identify date for strategic planning and budgeting session
Budgeting should be completed in 1st month of the financial year
Finalise methods of monitoring and controlling budgets
Identify reports that will be generated for presentation
Estimate Costs
Do the estimate of activities needed
Small components with say less than 100 members will have a
budget of about $5,000
Larger components can be as big as $500,000
Different approaches will apply, for controls, risk management
and reporting
Pointers
Know the strategic plan of the component
Review current year revenue and expenses as baseline.
Identify revenue/expenses that will not recur.
Obtain input from organizational leaders.
Estimate income and expense for coming year.
Determine Budget
Pointers
Review proposed
budget with
leadership.
Approve budget.
Monitor budget.
Determine Budget
Indicative Budgets and Reserves
Component Size
Potential Budget
Reserves
Less than 100

members
$2,500 to $5,000
$625 to $1,250
100 to 600 members
$12,000 to $36,000
$3,000 to $9,000
600 to 1,200 members
$24,000 to $72,000
$6,000 to $18,000
1,200 to 2,000
members
$40,000 to $160,000
$10,000 to $40,000
Over 2,000
$60,000 to $500,000
$15,000 to $125,000
Determine Budget
BUDGETING FORMS
EXAMPLES
Control Costs
Provide monthly reports to board members (Actuals vs Budget)
Provide Activity based (Cost-centre) reports to board members
Indicates surplus/deficit for every activity of the chapter
Indicates activities that need to be deleted
Indicates activities that can be increased
Helps explore ways to reduce expenditure
Financial Planning
Resources
Financial Advisor
Valuable support for the
Component
Should have knowledge
of Non-Profits
Can be expensive
especially as you start
up, so shop around,
emphasize not-for-profit
How about Financial
Advisor Member
volunteer?
Financial Planning
Policies and Procedures
Financial Policy Manual
Who is responsible for
handling financial
transactions & accounts?
Who has a support role?
Annual & Project budgets
How incoming funds will
be deposited
Purchase methodology
Emergency expenditures
Travel reimbursements
Financial reporting
Financial Planning
Sensitivity Analysis
Examines several
parameters related
to various activities
of the chapter, to
determine the effect
upon the chapters
cash flow
Financial Administration and Records

Staffing
Accountant
Valuable support for
the Component
Can be expensive
especially as you start
up, so shop around,
emphasize not-forprofit
How about CA/CPA
Member volunteer?
How about outsourcing
accounts?

Infrastructure
Accounting Software
You may need a software
tool to maintain your
records and transaction
details
Based on the size and
number of transactionsmay be done manually
with simple tools
Accounting Packages
QuickBooks, Quicken,
Tally and others.
Must be designed for

Small Business

Logical Structure
Chart of Accounts (COA)
Definition: A financial
organizational tool that
provides a complete listing of
every account (asset, liability,
equity, revenue and expense)
in an accounting system
Setup initially with the help of
an Accountant/ Adapted from
similar component.
Used to actively monitor and
control expenditures and
revenues
Allocated by Portfolio for easy
Portfolio Reporting

Transactions
Not-for-Profits
Rules vary from country to country, but generally speaking:
Components are not in the business for profit
Equally they are not expected to run at a loss
Should hold a reserve of 3 to 12 months expenses
Legal and ethical duties will apply

Transactions
Bank Accounts
Select and talk to local
banks . . .
Each may offer different
packages
Emphasize not-for-profit
Suggest large reserve
may occur
Avoid Business
Accounts with higher
fees
Signatories on account(s)
Authority to borrow funds
Insurance/bonding

Transactions - Types
Income
Membership dues
Event or program fees
Sponsorship and
donations
(Advertisements)
Professional
development/education
income
Investments
PMI Grants
Expense
Administration and
overhead
Program costs
Professional
development costs
Leadership costs Reimbursements
Insurance PMI
provides for $200

Transactions Income Membership
Membership dues are electronically credited by PMI to Chapter
Bank account after the end of every quarter
Intl. Chapters have to fill up International Wire Transfer form
Membership dues for subsequent calendar year can be
changed by notifying PMI before Sep 1 review your income
over expenditure for the past one year and reserves to decide
Membership dues received by the chapter should be reconciled
against membership reports reports for the same are available
in DEP/CRS

Transactions Income PMI Grants
Chapters with financial assets

less than USD 20,000.00
Eligible for Region Meeting Travel
Support USD1000 to support
their travels to their own Region
Meeting
Preferential consideration for LIM
Travel Grant Program - Travel
Grant funds offer a maximum of
$2,000.00 USD to chapters to
support their travels to one (1)
PMI LIM annually
Region Mentor Travel Grant

Support chapters travels to
Region Meetings, etc.

Transactions Income Investments
Interest
Dividend
Rent
Capital gains

Transactions Leadership Costs
Reimbursement
Expense reporting forms to be used by volunteers/leaders
All supporting documents to be attached with the forms
Decide who authorizes pre- and post-activity
Softwares such as Concur and Expensify can be used by
chapters for expense reporting verify costs
Items should be for chapter business and may include:
Lunches, F & B during meetings for chapter business
Travel & Lodging for longer distance and/or time
Communication expenses
Prescribed limits should be set in Policy Manual

Transactions Property, Investments and
Inventory
Properties should be purchased after Buy/Lease analysis
Being non-profit body, laws may require tedious procedures to
be adhered to when property is to be sold
Evaluate various types of investments
Identify persons authorized to invest funds
Formulate Investment policies
Take closing stock of inventory like books, standards, etc.
Be careful when scrapping old stock proper records to be kept
Maintain records and documents of all properties and
investments

Transactions Insurance
PMI Insurance (read in
detail) is for all chapters
regardless of membership
size
Chapters less than USD
2000 in reserves are exempt
from this payment but are
covered
Chapters may choose to
purchase additional
insurance for their property
and inventory
Perform Finance Control

Level of Control Changes
$1,500 budget - Finance Officer issues the cheques and
accounts for the disbursements
At $50,000 level - maybe part-time committee/bookkeeper
At $100,000 or more - paid staff an option
Risk adverse project managers require controls
Automate the process (ex. online registrations)

Financial Reports
Status of finances and
forecast future, including
the state of financial
health
Who receives reports and
how often are reports
provided?
What type of verification
process or internal audit is
done of financial reports

Financial Reports Financial Statements
Income & Expenditure
Actual vs. Budget
Balance Sheet
Cash flow
Financing,
Operations
Investing
Audited Accounts
Annual Reports

Financial Reports Financial Reporting
Income & Expenditure
Every month
Board
Balance Sheet
Yearly Board & Membership
Cash flow
Quarterly
Audited Accounts
Annual Reports
Board

Financial Reports Financial Ratios
Income and Expenditure Ratios
What it tells us
Reliance on Sources of income

(Reliance Ratio)
= Largest type of Income
Total Income
Awareness of the risk of a major

reduction in income if this source of
contributed income is stopped.
May be helpful for special events.
Earned income Ratio

= Total earned income
Total income
Organizations with earned income

have greater autonomy
Self-sufficiency Ratio
= Total earned income
Total expense
The proportion of operating expense

that are covered by earned income
Personnel cost Ratio

= Total personnel costs
Total expenses
Changes in percentage of budget

used for staff is notable

Income and Expenditure Ratios
What it tells us
Admin cost Ratio

= Total administrative costs
Total expenses
Changes in percentage of budget

used for admin is notable
Income-expenditure Ratio
= Total income
Total expenditure
The proportion of expense that are

covered by income
Cost per unit-of-service

= Total expenditure
Number of members
Expenditure per member can be an

indicator for expenses per member
Non revenue generating activities

Cost per unit-of-service
= Non-revenue activity cost
Number of members
Expenditure per member for non

revenue generating activities can be
an indicator for membership dues

Balance Sheet Ratios
What it tells us
Current Ratio
= Current Assets
Current Liabilities
An indication of organizations ability

to pay obligations in a timely
manner
Debt Ratio
= Total liabilities
Total unrestricted net assets
How much the organization is

relying on funding from others.
Indication of amount of cushion
Aged accounts receivable ratio

= Accounts receivable > 90 days
Total accounts receivable
Indicates potential collection or

billing problems and cash-flow
issues
Aged accounts payable ratio

= Accounts payable > 90 days
Total accounts payable
Indicates cash-flow issues and

potential severe financial problems

Balance Sheet Ratios
What it tells us
Days cash on hand

Step 1:
One day cash requirement =
Annual expense budget
(-) depreciation
(-) in-kind expense (discounts etc.)
(-) pass-through funds (specific purpose)
(-) unusual , one-time expenses
= Annual cash requirement/365
Step 2:
Days cash on hand
= Cash and current investments
One day cash requirement
A quick test of the

operating cash or
adequacy of the
operating reserve
Reserves per unit-of-service

= Total Reserves
Number of members
Reducing reserves
indicates exceeding
expenditure per member
Financial Ratios
RATIOS EXERCISE

Financial Reports Pie charts Income sources
Membership dues
PMP Prep courses
Other certification Prep
courses
Annual conference
Professional development
Sponsorship Income
Bank interest (incl. Fixed
Deposit interest)

Financial Reports Pie charts Expense sources
PMP Prep courses
Other certification Prep
courses
Annual conference
Professional development and
membership benefits
Volunteer development
Marketing
Administrative (fixed)
expenses
Taxes

Financial Reports Other considerations
INCOME STATEMENT INDICATORS:
Revenue reliability
Consistent surpluses
Full cost coverage
BALANCE SHEET INDICATORS
Ability to manage debt
Ability to steward facilities
Appropriate liquidity
Asset composition changes

Audits
Internal and/or external audits

ensure correct accounting
methods and financial practices
Very helpful in uncovering

problems that otherwise might
not be seen
Internal audits
Independant team (e.g. members
with no officer position)
Appoint an independent member
(e.g. Past President)
External audits
Often a statutory requirement of
the local government and carried
out by a CPA
STATUTORY & PMI

REQUIREMENTS
Statutory Requirements
Tax Exempt Status
Federal (US)
As a business league, PMI and its Components can qualify for
exemption under Section 501(c)(6) of the IRS code.
As 501(c)(6) organizations, PMI and its Components may not receive
charitable contributions.
State (US)
Some states grant their own exemptions for nonprofit organizations.
The process for obtaining an exemption varies from state to state.
International
The laws vary significantly from country to country.
Component leaders will need to investigate the requirements and
process in each country.
Tax Filing
Federal (US)
Tax filings
Taxes for unrelated business income
Taxes related to employees
State (US)
Requirements will vary from state to state
International
The laws vary significantly from country to country
Component leaders will need to investigate the requirements
and process in each country
Filing under other statutes
Some countries have
other filing requirements
like
Registrar of Societies, or
Registrar of Trusts, or
Registrar of NGOs
Some Registrars mandate

the submission of financial
statements to the registrar
Legal Requirements
Keep accurate and
complete records
Corporate records book
Articles of incorporation,
bylaws
Meeting minutes
Tax exemption
determination letters
Contracts
Financial records
Insurance
PMI Requirements
Charter Renewal
Chapter are required to submit

Financial information in USD
Financial highlights required:

Previous year Reserves
Reporting year Incoming Funds
(gross receipts)
Reporting year expenses
Reporting year end Reserves
International Chapters to report

Previous year Reserves with
current exchange rate
Copies of any tax filings must

be submitted
BREACH YOUR LIMITS
Go Beyond Your Function

Partnering with other BOD members to identify & execute growth
strategies
Continuous process improvement/ business improvement
Leading finance-related compliance programs and strengthening
the internal control environment
Identify funding and developing the volunteers
Aligning finance with the business
Driving cost reduction
Developing & Supporting component transformation activities
Developing, Supporting and managing the Component RISK factors
PMI Southern Ontario Chapter

Chart of Accounts - Current Year
ASSETS
Account Class
1000
1110
1120
1130
1150
1199
1210
1211
1299
1310
1499
Current Assets
Cash & Holdings
CIBC Bank
Toronto Dominion Bank
Investment Account/Reserves
Total Cash
Accounts Receivable
Membership & Program Accruals
Total Receivables
Prepaid Expenses & Deposits
Total Current Assets
H
A
A
A
A
S
A
A
S
G
T
1700
1750
1800
1850
1899
Capital Assets
Equipment etc
Goodwill
Other Assets
Total Other Assets
H
G
G
G
T
LIABILITIES
Current Liabilities
Accounts Payable
Corporate Tax payable
PST Payable
Deferred Membership
Accrued Liabilities
GST Paid on Purchases
GST Installment Payments
GST Charged on Sales
GST Net Totals
Total Current Liabilities
H
G
G
G
G
G
A
A
A
S
T
2300
2310
2320
2399
Component Accounts
Due to IS SIG
Due to PMO LIG
Total Component Accounts
H
G
G
T
EQUITY
Retained earnings
Retained
Current Earnings
Total Retained Earnings
Accounts Receivable
Asset
Asset
Asset
Asset
Asset
Account Class
2000
2110
2140
2150
2160
2170
2210
2230
2250
2259
2299
3000
3100
3600
3999
Asset
Bank
Bank
Asset
Accounts Payable
Liability
Liability
Liability
Liability
Liability
Liability
Liability
Liability
Liability
Account Class
H
G
X
T
Retained Earnings
Current Earnings
H
A
G
S
T
X
Heading
Asset
Group
Subtotal
Total
Transfer
REVENUE
Account Class
4000
4010
4020
4030
4040
4050
4099
Membership
Membership dues
Sponsorship Packages
Operational Sponsorship/Revenue
Other Sponsorship (Special Events)
Other Revenue
Total Membership Revenue
H
G
G
G
G
G
T
Revenue
Revenue
Revenue
Revenue
Revenue
4200
4210
4230
4240
4250
4260
4290
4295
4299
Professional Development
Prof Dev PMP Review Session Revenue
Prof Dev PMP Review Licence Fees
PMP Review Book Sales
Continuing Education Revenue
Prof Dev Seminar Revenue
Program Revenue
Mentoring Revenue
Total Professional Development Rev.
H
G
G
G
G
G
G
G
T
Revenue
Revenue
Revenue
Revenue
Revenue
Revenue
Revenue
4300
4310
4330
4399
Communication
Newsletter & Website Advertising
Job Posting/Careerlink Advertising
Total Communications Revenue
H
G
G
T
Revenue
Revenue
4400
4410
4610
4699
New Project Sponsorship

New Project Sponsorship
New Project Revenue
Total New Project Revenue
H
G
G
T
Revenue
Revenue
EXPENSE
Account Class
5200
5210
5220
5230
5240
5250
5260
5270
5290
5295
5299
Prof Dev PMP Review Fac/Food Exp
Prof Dev Material Expense
Prof Dev Course Development Exp
PMP Review Book Expense
Continuing Education Pres. Exp
Prof Dev Seminar Expense
Prof Dev Misc Expenses
Program Expense
Mentoring Program Expense
Total Professional Development Exp.
H
G
G
G
G
G
G
G
G
G
T
Expense
Expense
Expense
Expense
Expense
Expense
Expense
Expense
Expense
5300
5310
5330
5340
5399
Communication
Newsletter & Annual Program Expense
Website Development & Maintenance
Other Communication Expense
Total Communication Expense
H
G
G
G
T
Expense
Expense
Expense
5400
5410
5415
5420
5425
5430
5440
5450
5499
PMI Promotional Expense

Corporate Support/Other Trade Shows
Trade Booth Development
ProjectWorld
Project of the Year
Promotional Materials
Other Promotional Expense
Marketing Expenses
Total Promotional Expense
H
G
G
G
G
G
G
G
T
Expense
Expense
Expense
Expense
Expense
Expense
Expense
5500
5560
5565
5570
5580
5585
5590
5599
PMI SOC Expense

Board Meeting Expense
Election Expense
Recognition Awards
Leadership Meetings
Other Component Support
Miscellaneous PMI Expense
Total PMI Expense
H
G
G
G
G
G
G
T
Expense
Expense
Expense
Expense
Expense
Expense
5800
5810
5815
5820
5830
5840
5850
5855
5860
5890
5899
General & Administrative Expense

Accounting & Legal
Insurance
Administration Services (Bond)
Courier & Postage
Telephone & Fax
Bank Charges
Credit Card Charges
Office Supplies
Miscellaneous Expenses
Total General & Admin Expense
H
G
G
G
G
G
G
G
G
G
T
Expense
Expense
Expense
Expense
Expense
Expense
Expense
Expense
Expense
PMI Southern Ontario Chapter

Chart of Accounts - Current Year (2005)
REVENUE
Account Class
4200
4210
Prof Dev PMP Review Session Revenue
Revenue
EXPENSE
Account Class
5200
5210
Prof Dev PMP Review Fac/Food Exp
Expense
5220
Prof Dev Material Expense
Expense
4230
Prof Dev PMP Review Licence Fees
Revenue
5230
Prof Dev Course Development Exp
Expense
4240
PMP Review Book Sales
Revenue
5240
PMP Review Book Expense
Expense
4250
Continuing Education Revenue
Revenue
5250
Continuing Education Pres. Exp
Expense
4260
Prof Dev Seminar Revenue
Revenue
5260
Prof Dev Seminar Expense
Expense
5270
Prof Dev Misc Expenses
Expense
4290
Program Revenue
Revenue
5290
Program Expense
Expense
4295
Mentoring Revenue
Revenue
5295
Mentoring Program Expense
Expense
4299
Total Professional Development Rev.
5299
Total Professional Development Exp.
4300
Communication
5300
Communication
4310
Newsletter & Website Advertising
Revenue
5310
Newsletter & Annual Program Expense
Expense
4330
Job Posting/Careerlink Advertising
Revenue
5330
Website Development & Maintenance
Expense
5340
Other Communication Expense
Expense
5399
Total Communication Expense
4399
Total Communications Revenue
Amount
(in local currency)
Year One
Revenue
Membership Fees
Sub-Total Membership
Programs & Events
Certification Trainings
Monthly Chapter Meetings
Sub-Total Programs & Events
Other Revenue
Initial Setup Seed money from Chapter Founders
Advertisement
Sub-Total Other Revenue
Total Projected Revenue
Expenses
Chapter Operations
Set-up Expenses
Monthly Chapter Meetings
Travel expenses to PMI Region Meeting and PMI Leadership
Institute Meeting
Training Course Delivery
Website Hosting & Technology Expenses
Total Projected Expenses
Balance for the Current Year ending First Year
Balance B/F from the previous year
Balance Year Ending
Amount
(USD)
Comments
The One Page Budget Worksheet

(This is a very simple budgeting worksheetOne Page!)
Every non-profit needs a budgetand we have made it easy for you. With these budget
worksheets, you can create a 12 month budget on a single page. We have included Revenue,
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for your non-profit...type in your expense accounts. We calculate Net Revenues, Gross Profit,
Total Overhead and Surplus/Deficiet for you...and then we provide simple but powerful graphical
visuals of your budget on a separate page.
There are four separate tasks associated with preparing a budget.
1) Prepare your business planOne Page Business Plan, of course!
2) Estimate your service and product revenues by month.
2) Estimate the expenses associated with each of your key projects or programs.
3)
- Project/calculate each of your overhead expenses.
Using the One Page Budget Worksheet is easy!
1) Input your Revenues/Funding by month.
2) Manually input Cost of Services(or Products if appropriate) or create formulas that are linked
to Revenues or units of Service, or units sold.
3) Calculate Salary Expenses by person and then input onto this worksheet. You may want to
add another worksheet into this workbook to calculate your Salaries by person.
4) Manually input or use formulas to calculate each of your Overhead Expenses.
5) Review the results both numerically and graphically. Don't like the resultschange one or
more of your variables.
6) Printing is easybudget and graphs are formatted to print to a single page each..
Included with The One Page Budget Worksheet are two complete sample non-profit budgets.
One is a small services organization, the other is a non-profit with variable costs that vary based
upon the volume of services they provide. Hopefully the format, selected accounts will assist you
in the preparation of your budget.
Note: All cells in these worksheets are locked, except the input fields to prevent the accidental
overriding of formulas. If you would like to edit the spreadsheet, we encourage you to first make
a copy so that you preserve the original. Then go to Tools, Protection and select Unprotect.
2003 The One Page Business Plan Company. All Rights Reserved
For additional information on other products or services visit www.onepagebusinessplan.com
Career Transitions Services

Budget for 2007
Prepared by: Christina Mora
Date: November 1, 2006
Month 1
Revenues
- Discounts
- Fee Waivers
Net Revenues
Overhead Expenses
- Salaries & Wages
- Overtime
- Employer Taxes
- Employee Benefits
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Total
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
8,000
8,500
9,000
75,000
0
0
75,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
8,000
8,500
9,000
1,800
1,800
1,800
2,500
2,750
2,750
3,000
3,500
3,500
4,500
4,500
4,500
180
350
180
350
180
350
250
350
275
350
275
350
300
350
350
350
350
350
450
350
450
350
450
350
36,900
0
3,690
4,200
Staff Expenses
2,330
2,330
2,330
3,100
3,375
3,375
3,650
4,200
4,200
5,300
5,300
5,300
44,790
Staffing Percent
66.6%
58.3%
51.8%
62.0%
61.4%
56.3%
56.2%
60.0%
56.0%
66.3%
62.4%
58.9%
59.7%
100
100
100
100
100
100
100
100
100
100
100
100
50
25
100
50
25
100
50
25
100
50
25
100
50
25
100
50
25
100
50
25
100
50
25
100
50
25
100
50
25
100
50
25
100
50
25
100
150
150
150
150
150
150
150
150
1,500
150
150
150
100
75
250
75
500
75
500
75
500
75
1,000
75
1,000
75
500
75
750
75
500
75
500
75
500
75
100
100
100
100
100
100
100
100
100
100
100
100
400
400
400
400
400
400
400
400
400
400
400
400
50
50
50
50
50
50
750
50
50
50
50
1,500
50
50
1,200
0
600
300
1,200
0
0
3,150
0
6,600
900
0
1,200
0
4,800
0
0
2,250
600
1,150
32.9%
1,300
32.5%
1,550
34.4%
1,550
31.0%
1,550
28.2%
2,050
34.2%
2,800
43.1%
1,550
22.1%
3,150
42.0%
1,550
19.4%
3,050
35.9%
1,550
17.2%
22,800
30.4%
Accounting Fees
Advertising
Auto Expenses
Bank Fees
Computer Expenses
Equipment
Insurance
Internet Services
Legal Fees
Marketing Expenses
Meals & Entertainment
Office Supplies
Phone
Freight
Rent
Sales Commissions
Sales Expenses
Travel
Utilities
Non-Staff Expenses
Non-Staff Percent
Total Overhead
Total Overhead Percent
Surplus (Deficit)
Percent of Revenue
3,480
3,630
3,880
4,650
4,925
5,425
6,450
5,750
7,350
6,850
8,350
6,850
67,590
99.4%
90.8%
86.2%
93.0%
89.5%
90.4%
99.2%
82.1%
98.0%
85.6%
98.2%
76.1%
90.1%
20
370
620
350
575
575
50
1,250
150
1,150
150
2,150
7,410
0.6%
9.3%
13.8%
7.0%
10.5%
9.6%
0.8%
17.9%
2.0%
14.4%
1.8%
23.9%
9.9%
2003 The One Page Business Plan Company. All Rights Reserved. For additional information on other products or services visit www.onepagebusinessplan.com
Career Transitions Services

Budget for 2007
Prepared by: Christina Mora
Revenue, Overhead & Surplus
Key Financial Percentages
$10,000
120.0%
$9,000
Revenue
$8,000
100.0%
$7,000
80.0%
$6,000
Overhead Expenses
$5,000
60.0%
$4,000
$3,000
$2,000
Surplus
$1,000
40.0%
20.0%
$0
0.0%
1
Revenues
Total Overhead
Surplus (Deficit)
10
11
Total Overhead
Surplus (Deficit)
Staff Expenses
Non-Staff Expenses
Revenue & Surplus(Deficit) by Quarter
Overhead Expenses by Category

$30,000
$25,000
Non-Staff,
$22,800 , 34%
$20,000
$15,000
Staffing,
$44,790 , 66%
$10,000
$5,000
$0
Q1
Staffing
Non-Staff
Q2
Revenue
Q3
Surplus (Deficit)
Q4
12
Community Meals
Consolidated Budget for 2007
Prepared by: Bill Jones
Month 1
Source of Funding
- Donations
- Revenue
Total Revenues
Variable Costs
- Food/Supplies
- Labor
- Transportation
Total Variable Costs
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Total
20,000
4,000
24,000
20,000
4,000
24,000
20,000
4,000
24,000
25,000
4,000
29,000
25,000
4,000
29,000
25,000
4,000
29,000
30,000
6,000
36,000
30,000
4,000
34,000
30,000
4,000
34,000
30,000
4,000
34,000
40,000
4,000
44,000
40,000
8,000
48,000
3,35,000
54,000
3,89,000
8,000
4,000
2,880
8,000
4,000
2,880
8,000
3,000
2,880
6,000
3,000
3,480
4,400
3,000
3,480
4,400
3,500
3,480
6,000
4,000
4,320
5,000
3,500
4,080
5,000
4,500
4,080
5,000
4,500
4,080
6,500
5,000
5,280
8,500
7,000
5,760
74,800
49,000
46,680
14,880
14,880
13,880
12,480
10,880
11,380
14,320
12,580
13,580
13,580
16,780
21,260
1,70,480
Margin
9,120
9,120
10,120
16,520
18,120
17,620
21,680
21,420
20,420
20,420
27,220
26,740
2,18,520
Margin Percent
38.0%
38.0%
42.2%
57.0%
62.5%
60.8%
60.2%
63.0%
60.1%
60.1%
61.9%
55.7%
56.2%
Overhead Expenses
- Salaries & Wages
- Overtime
- Employer Taxes
- Employee Benefits
8,000
500
800
1,000
8,000
500
800
1,000
8,000
500
800
1,000
8,000
500
800
1,000
8,000
1,500
800
1,000
10,000
1,500
1,000
1,250
10,000
1,500
1,000
1,250
10,000
1,500
1,000
1,250
10,000
1,500
1,000
1,250
10,000
500
1,000
1,250
10,000
500
1,000
1,250
10,000
500
1,000
1,250
1,10,000
11,000
11,000
13,750
Total Staffing Expenses
10,300
10,300
10,300
10,300
11,300
13,750
13,750
13,750
13,750
12,750
12,750
12,750
1,45,750
Accounting Fees
Advertising/Promo
Auto Expenses
Bank Fees
Computer Expenses
Equipment
Insurance
Internet Services
Legal Fees
Office Supplies
Phone
Rent
Travel
Utilities
200
250
500
75
200
80
1,500
100
250
200
200
200
1,500
200
250
500
75
200
80
1,500
100
250
200
200
200
1,500
200
250
500
75
200
80
1,500
100
250
200
200
200
1,500
200
250
500
75
200
80
1,500
100
250
200
200
200
1,500
200
250
500
75
200
80
1,500
100
250
200
200
200
1,500
200
250
500
75
200
80
1,500
100
250
200
200
200
1,500
200
250
500
75
200
80
1,500
100
250
200
200
200
1,500
200
250
500
75
200
80
1,500
100
250
200
200
200
1,500
200
250
500
75
200
80
1,500
100
250
200
200
200
1,500
150
150
150
150
150
200
250
500
75
200
80
1,500
100
250
200
200
200
1,500
500
150
200
250
500
75
200
80
1,500
100
250
200
200
200
1,500
150
750
250
500
75
200
80
1,500
100
250
200
200
200
1,500
1,500
150
150
150
150
150
2,950
3,000
6,000
900
2,400
960
18,000
1,200
3,000
2,400
2,400
2,400
18,000
2,000
1,800
Subtotal - Nonstaff Exp.
5,405
5,405
5,405
5,405
7,455
5,405
5,405
5,905
5,405
5,405
5,405
5,405
67,410
Total Overhead Expenses
15,705
15,705
15,705
15,705
18,755
19,155
19,155
19,655
19,155
18,155
18,155
18,155
2,13,160
Surplus (Deficit)
-6,585
-6,585
-5,585
815
-635
-1,535
2,525
1,765
1,265
2,265
9,065
8,585
5,360
Percent
-27.4%
-27.4%
-23.3%
2.8%
-2.2%
-5.3%
7.0%
5.2%
3.7%
6.7%
20.6%
17.9%
1.4%
Community Meals
Prepared by: Bill Jones
Revenue, Expenses & Surplus (Deficit)

$50,000
80.0%
$40,000
60.0%
Revenue
$30,000
$20,000
40.0%
Overhead Expenses
20.0%
Variable Costs
$10,000
Surplus (Deficit)
0.0%
1
10
11
-20.0%
$0
-40.0%
($10,000)
Source of Funding
Surplus (Deficit)
Variable Expenses
Margin
Cost of Services
Overhead Expenses
Surplus (Deficit)
Revenue/Funding & Expenses by Quarter
Variable Costs by Type
$1,50,000
$1,00,000
Transportation,
$46,680 , 27%
$50,000
Food, $74,800 ,
44%
$0
Q1 Q2
Labor, $49,000 ,
29%
Food
Labor
Transportation
Revenue
Q3
Q4
Revenue
Q1
72,000
Q2
87,000
Q3
1,04,000
Q4
1,26,000
Expenses
90,755
88,355
98,445
1,06,085
Revenue
Expenses
12
Name of Organization
Budget for 2007
Prepared by: Your Name & Title
Month 1
Revenues
- Discounts
- Fee Waivers
Net Revenues
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Date:
Month 8
Month 9
Month 10
Month 11
Month 12
Total
0
0
0
0
Overhead Expenses
- Salaries & Wages
- Overtime
- Employer Taxes
- Employee Benefits
0
0
0
0
Staff Expenses
Staffing Percent
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
Accounting Fees
Advertising
Auto Expenses
Bank Fees
Computer Expenses
Equipment
Insurance
Internet Services
Legal Fees
Marketing Expenses
Office Supplies
Phone
Freight
Rent
Sales Commissions
Sales Expenses
Travel
Utilities
Non-Staff Expenses
Non-Staff Percent
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
#DIV/0!
Total Overhead
Total Overhead Percent
0
#DIV/0!
Surplus (Deficit)
Percent of Revenue
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
Budget for 2007
Date:
Revenue, Overhead & Surplus
$1
100.0%
$1
90.0%
Revenue
$1
80.0%
$1
70.0%
$1
Overhead Expenses
$1
60.0%
50.0%
$0
40.0%
$0
$0
Surplus
30.0%
$0
20.0%
$0
10.0%
0.0%
1
Revenues
Total Overhead
Surplus (Deficit)
Non-Staff
10
11
Total Overhead
Surplus (Deficit)
Staff Expenses
Non-Staff Expenses
$1
$1
$1
$1
$1
$1
$0
$0
$0
$0
$0
Q1
Staffing
Revenue & Surplus(Deficit) by Quarter
Overhead Expenses by Category
Non-Staff,
Staffing, $-$- , ,
0%
Q2
Revenue
Q3
Surplus (Deficit)
Q4
12
Date:
Month 1
Source of Funding
- Donations
- Revenue
Total Revenues
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Total
0
0
0
Variable Costs
- Labor
- Materials
- Other
0
0
0
Margin
Margin Percent
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
0
0
#DIV/0!
Overhead Expenses
- Salaries & Wages
- Overtime
- Employer Taxes
- Employee Benefits
0
0
0
0
Total Staffing Expenses
Accounting Fees
Advertising/Promo
Auto Expenses
Bank Fees
Computer Expenses
Equipment
Insurance
Internet Services
Legal Fees
Office Supplies
Phone
Rent
Travel
Utilities
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Subtotal - Nonstaff Exp.
Surplus (Deficit)
Percent
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
0
#DIV/0!
Date:
0
#DIV/0!
0
#DIV/0!
Revenue, Expenses & Surplus (Deficit)

$50,000
100.0%
$45,000
$40,000
$35,000
$30,000
$25,000
90.0%
80.0%
Revenue
70.0%
60.0%
Overhead Expenses
50.0%
$20,000
40.0%
$15,000
$10,000
Surplus (Deficit) Variable Costs
30.0%
$5,000
20.0%
$0
10.0%
0.0%
1
Source of Funding
Surplus (Deficit)
10
11
Margin
Cost of Services
Surplus (Deficit)
Revenue/Funding & Expenses by Quarter
Variable Costs by Type
$1
- -Labor,
Other,
Materials,
$- ,
$- 0%
, 0%
$1
$0
Q1 Q2
- Labor
- Materials
- Other
Revenue
Q3
Q4
Revenue
Q1
0
Q2
0
Q3
0
Q4
0
Expenses
Revenue
Expenses
12
Summary
Annual Budget of PMI Mumbai Chapter

Year 2010-11
Sr.
Expenditure
No.
1
2
3
4
5
6
7
8
9
10
11
12
New Premises
Administration
Branches
Communications
Corporate Relations
PMPCE
PMP_Club
Programs
Publications
Volunteer Development
Membership
Surplus
Total
Amount (INR)
Income
Amount (INR)
2,52,000
11,79,302
2,74,050
2,70,600
1,62,750
12,00,000
2,77,725
1,85,850
86,940
2,80,000
36,750
0
41,69,217
New Premises (from corpus)

Administration
Branches
Communications
Corporate Relations
PMPCE
PMP_Club
Programs
Publications
Membership
Investments
Total
2,52,000
0
1,05,000
0
0
24,00,000
36,000
5,40,000
0
0
6,50,000
4,38,217
39,83,000
Income
Expenditure
Administration
Administration
Branches
Branches
Communications
Communications
Corporate Relations
Corporate Relations
PMPCE
PMPCE
PMP_Club
PMP_Club
Programs
Programs
Publications
Publications
Membership
Membership
Surplus
Investments
Page 1
Branches
Annual Budget for Branches of PMI Mumbai Chapter

Year 2009-10
Sr.
Expenditure
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Amount (INR)
Income
Amount (INR)
Monthly meetings at Ahmadabad

Monthly meeting at MPSTME
Exam Prep Software for Ahmadabad
Exam Prep Software for MPSTME
Hardware(Netbook)
Travel expense to Ahmedabad
International conference
Contingency @ 5 %
72,000
12,000
20,000
20,000
25,000
12,000
1,00,000
13,050
PMPCE Course @ Ahmadabad

CAPM + Other courses @ MPTME
75,000
30,000
Surplus
Total
0
2,74,050
Investments
Total
1,69,050
1,05,000
Income for Branches
Expenditure for Branches
Monthly meetings at Ahmadabad
PMPCE Course @ Ahmadabad
Monthly meeting at MPSTME
CAPM + Other courses @ MPTME
Exam Prep Software for Ahmadabad

Exam Prep Software for MPSTME
Hardware(Netbook)
Travel expense to Ahmedabad
Page 5
Communications
Annual Budget for Communications Dept. of PMI Mumbai Chapter

Year 2010-11
Sr.
Expenditure
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Amount (INR)
Website (OnePMI)
On-Line Conferencing (WebEx)
Mass Mailing (Constant Contact)
On-Line Survey
Contingency @ 10 %
1,48,500
60,000
35,000
2,500
24,600
Surplus
Total
0
2,70,600
Income
Amount (INR)
Investments
Total
2,70,600
0
Expenditure for Communications
Website (OnePMI)
On-Line Conferencing (WebEx)
Mass Mailing (Constant Contact)
On-Line Survey
Contingency @ 10 %
Page 6
Corporate Relations
Annual Budget for Corporate Relations of PMI Mumbai Chapter

Year 2010-11
Sr.
Expenditure
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Amount (INR)
Corporate Events - CXO meet

Domestic Travel Seminars , Events
Marketing materials , brochures, printing costs
Local Travel
Visit to Other Chapters [ thrice a year ]
Corporate Mementos / Gifts
Contingencies [ @ 5% ]
Surplus
Total
Income
Amount (INR)
60000
30000
25000
15000
15000
10000
7750
0
1,62,750
25 participants
one time
one time
2 persons
3 visits planned
2 persons
Investments
Total
1,62,750
0
Expenditure for Corporate Relations
Corporate Events - CXO meet

Domestic Travel Seminars , Events
Marketing materials , brochures, printing costs
Local Travel
Visit to Other Chapters [ thrice a year ]
Corporate Mementos / Gifts
Contingencies [ @ 5% ]
Page 7
Annual Budget for Membership PMI Mumbai Chapter

Year 2010-11
Sr.
Expenditure
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Amount (INR)
Income
Amount (INR)
Member discounts for Chapter events

Online Member surveys
Contingency @ 5 %
30,000
5,000
1,750
Membership dues
6,50,000
Surplus
Total
6,13,250
36,750
Investments
Total
0
6,50,000
Expenditure for Publica3ons
Member discounts for Chapter

events
Online Member surveys
New Premises
Annual Budget for New Premises of PMI Mumbai Chapter

Year 2010-11
Sr.
Expenditure
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Chairs (approx. 60 @ 3000/- per chair)

Shifting
Other misc expenses
Security
Contingency @ 5 %
Amount (INR)
Income
Amount (INR)
200000
10000
20000
10000
12,000
From Corpus Funds
2,52,000
Assumptions
Contingency
252000
Surplus
Total
0
2,52,000
Investments
Total
0
2,52,000
Expenditure on New Premises
Chairs (approx. 60 @ 3000/- per chair)
Shifting
Other misc expenses
Security
Contingency @ 5 %
Page 3
5.00%
Admin
Annual Budget for Admin Dept. of PMI Mumbai Chapter

Year 2010-11
Sr.
Expenditure
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Amount (INR)
Printing and Stationery Expenses

Office maintenance
Staff Salary + Insurance
AGM expenses
Insurance
Telephone
Statutory dues / fees
Postage + Courier
Computers Maintenance AMC + Cartridges
Conveyance
Meeting Expenses (CCM + Other Board Meetings)
Bank Charges
Contingency @ 10 %
2,59,600
2,84,513
2,59,480
1,00,000
25,000
24,000
22,500
25,000
20,000
20,000
12,000
18,000
2,000
1,07,209
Surplus
Total
0
11,79,302
Income
Amount (INR)
Assumptions
Growth
Inflation
Contingency
Investments
Total
11,79,302
0
Expenses for Admin Dept
Printing and Stationery Expenses

Office maintenance
Staff Salary + Insurance
AGM expenses
Insurance
Telephone
Statutory dues / fees
Postage + Courier
Computers Maintenance AMC + Cartridges
Conveyance
Meeting Expenses (CCM + Other Board Meetings)
Bank Charges
Contingency @ 10 %
Page 4
18.00%
10.00%
10.00%
PMP_Club
Annual Budget for PMP Club of PMI Mumbai Chapter

Year 2010-11
Sr.
Expenditure
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Amount (INR)
Income
Amount (INR)
Monthly meetings at Welingkars

Monthly meeting at Thane
Monthly meeting at Vashi
BMA Churchgate
Contingency @ 5 %
85,800
42,900
85,800
50,000
13,225
Participation fee from non-members @ Weligkars

Participation fee from non-members @ Thane
Participation fee from non-members @ Vashi
12,000
12,000
12,000
Surplus
Total
0
2,77,725
Investments
Total
2,41,725
36,000
Expenditure for PMP Club
Monthly meetings at Welingkars

Monthly meeting at Thane
Monthly meeting at Vashi
Page 9
PMPCE
Annual Budget for PMPCE, PMI Mumbai Chapter

Year 2010-11
Sr.
Expenditure
No.
1
2
3
4
5
6
7
8
9
10
11
12
PMPCE Mumbai April

PMPCE Mumbai May
PMPCE Mumbai June
PMPCE Mumbai July
PMPCE Mumbai August
PMPCE Mumbai September
PMPCE Mumbai October
PMPCE Mumbai November
PMPCE Mumbai December
PMPCE Mumbai January
PMPCE Mumbai February
PMPCE Mumbai March
16
17
18
19
20
21
22
PMP CE for CorporatesMay

PMP CE for CorporatesAugust
PMP CE for CorporatesDecember
Purchase of Two Laptops
Purchase of Softwares
Purchase of Books
Contingency 10%
23
Surplus
Total
Amount (INR)
Income
Amount (INR)
100000
100000
100000
100000
100000
100000
100000
100000
100000
100000
100000
100000
200000
200000
200000
200000
200000
200000
200000
200000
200000
200000
200000
200000
100000
100000
100000
80000
100000
100000
1,78,000
150000
150000
150000
12,00,000 Investments
12,00,000
Total
0
24,00,000
Expenditure for PMPCE Course
PMPCE Mumbai April

PMPCE Mumbai May
PMPCE Mumbai June
PMPCE Mumbai July
PMPCE Mumbai August
PMPCE Mumbai September
PMPCE Mumbai October
PMPCE Mumbai November
PMPCE Mumbai December
PMPCE Mumbai January
PMPCE Mumbai February
PMPCE Mumbai March
Page 8
Annual Budget for President's Office of PMI Mumbai Chapter

Year 2010-11
Sr.
Expenditure
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Amount (INR)
LIMs Check last year figures and include expenses of

300000
3 candidates for LIMs
NGO Trainings 6 trainings x 5000/30000
ISO Certification for Chapter
150000
Offsite meetings for Board with Training
100000
Contingency @ 10 %
58,000
Income
Amount (INR)
From Corpus Funds
6,38,000
Assumptions
Contingency
638000
Surplus
Total
0
6,38,000
Investments
Total
0
6,38,000
Expenditure on New Premises
LIMs Check last year figures and include expenses of 3 candidates for
LIMs
NGO Trainings 6 trainings x 5000/-
ISO Certification for Chapter
Offsite meetings for Board with Training
Contingency @ 10 %
5.00%
Programs
Annual Budget for Programs PMI Mumbai Chapter

Year 2009-10
Sr.
Expenditure
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Amount (INR)
Surplus
Total
Income
Amount (INR)
Program fees (Rs. 5000/- per participant)
540000
Investments
Total
0
5,40,000
Assumptions
Booking Hall & refreshments (@ Rs. 900/- per

162000
participant)
Hotel Exp.: (Rs. 1700/- per day)
10200
Xerox Exp. (Rs. 20/- per participant)
3600
Conveyance
1200
Contingency @ 5 %
8,850
1,77,075
1,85,850
Expenses for Programs
Booking Hall & refreshments (@ Rs. 900/- per participant)

Hotel Exp.: (Rs. 1700/- per day)
Xerox Exp. (Rs. 20/- per participant)
Conveyance
Contingency @ 5 %
Page 10
Contingency
0.05
MS Project 2007 Workshop- 23rd 24th May'09 is taken as reference
@ 15 participants per program and total 12 programs per annum
Publications
Annual Budget for Publications PMI Mumbai Chapter

Year 2010-11
Sr.
Expenditure
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Amount (INR)
Prakalp Dec edition (annual, PRINT edition)

Prakalp Jun edition (Q2)
Prakalp mar edition (Q1)
Prakalp Sep edition (Q3)
Contingency @ 5 %
69,000
4,600
4,600
4,600
4,140
Surplus
Total
0
86,940
Income
Amount (INR)
Investments
Total
86,940
0
Expenditure for Publications
Prakalp Dec edition (annual, PRINT edition)

Prakalp Jun edition (Q2)
Prakalp mar edition (Q1)
Prakalp Sep edition (Q3)
Contingency @ 5 %
Page 11
Annual Budget for Volunteer Development of PMI Mumbai Chapter

Year 2010-11
Sr.
Expenditure
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Amount (INR)
Budget
2,80,000
Surplus
Total
0
2,80,000
Income
Amount (INR)
Investments
Total
2,80,000
0
Expenditure for Volunteer Development
Budget
Page 12
NOTE:
In case of Unit prices, enter cost per participant

Minimum Budget
Maximum Budget
Basic Information
1
2
3
4
5
6
7
Name Of Event
Location Venue
Min. No. of Participants
Max. No. of Participants
Members Tariff
Non Members Tariff
Percentage of Member attendees
Rs.
Rs.
0%
INCOME HEADS
1
a
b
Income from participants

Members
Non Members
Rs.
Rs.
a
b
c
Sponsorship
Sponsor 1
Sponsor 2
Sponsor 3
Rs.
Rs.
Rs.
Rs.
Rs.0.00
Rs.0.00
Rs.0.00
Rs.
TOTAL INCOME
Rs.
Rs.0.00
Rs.0.00
EXPENSE HEADS
1
a
b
Pre Event
Rent for subcommittee meetings
Refreshments for subcommittee meetings
Rs.
Rs.
a
b
c
d
e
f
Marketing
Advertisement
Brochure designing
Brochure Printing
Label Printing
Postage & Courier
Banner Printing
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
a
b
c
Faculty Expenditure
Hotel Stay For Faculty
Conveyance/Traveling
Mementos
Rs.
Rs.
Rs.
a
b
Finance & Legal

Bank Charges (Online payment gateway etc.)
Insurance
Rs.
Rs.
a
b
c
d
e
f
Handout
Course Material copying & binding
Stationery/Pens
Books & Periodicals
CD for Course material
Badges
Conference Bag/ Folders
Unit prices
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
a
b
c
d
e
f
g
Venue
Venue Rental Cost
Audio (Sound system/ mics)
Visual (Computer/ Projector/ Screen)
Backdrops
Food (Unit price)
Tips to Venue staff
Transportation of materials to venue
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
a
b
Post Course
Certificate & printing
Postage & Courier
Unit prices
Rs.
Rs.
TOTAL EXPENSE
NET SURPLUS (INCOME OVER EXPENDITURE)
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.0.00
Rs.0.00
Minimum Budget
Maximum Budget
Basic Information
1
2
3
4
5
6
7
Name Of Event
Location Venue
Min. No. of Participants
Max. No. of Participants
Members Tariff (Unit price)
Non Members Tariff (Unit price)
Percentage of Member attendees
XYZ Event
ABC Hotel
Rs.
Rs.
40
100
4,000.00
3,000.00
60%
INCOME HEADS
1
a
b
Income from participants

Members
Non Members
Rs.
Rs.
a
b
c
Sponsorship
Sponsor 1
Sponsor 2
Sponsor 3
Rs. 1,00,000.00
Rs.
60,000.00
Rs.
40,000.00
Rs. 1,44,000.00
96,000.00
48,000.00
Rs. 2,00,000.00
TOTAL INCOME
Rs.3,60,000.00
Rs.2,40,000.00
Rs.1,20,000.00
Rs.3,44,000.00
Rs. 2,00,000.00
Rs.5,60,000.00
EXPENSE HEADS
1
a
b
Pre Event
Rent for subcommittee meetings
Refreshments for subcommittee meetings
Rs.
Rs.
5,000.00
1,000.00
a
b
c
d
e
f
Marketing
Advertisement
Brochure designing
Brochure Printing
Label Printing
Postage & Courier
Banner Printing
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
5,000.00
2,500.00
5,000.00
1,000.00
8,000.00
3,000.00
a
b
c
Faculty Expenditure
Hotel Stay For Faculty
Conveyance/Traveling
Mementos
Rs.
Rs.
Rs.
2,000.00
2,000.00
a
b
Finance & Legal

Bank Charges (Online payment gateway etc.)
Insurance
Rs.
Rs.
1,000.00
2,000.00
a
b
c
d
e
f
Handout
Course Material copying & binding
Stationery/Pens
Books & Periodicals
CD for Course material
Badges
Conference Bag/ Folders
Unit prices
Rs.
60.00
Rs.
10.00
Rs.
2,000.00
Rs.
30.00
Rs.
5.00
Rs.
200.00
a
b
c
d
e
f
g
Venue
Venue Rental Cost
Audio (Sound system/ mics)
Visual (Computer/ Projector/ Screen)
Backdrops
Food (Unit price)
Tips to Venue staff
Transportation of materials to venue
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
a
b
Post Course
Certificate & printing
Postage & Courier
Unit prices
Rs.
10.00
Rs.
4.00
TOTAL EXPENSE
NET SURPLUS (INCOME OVER EXPENDITURE)
10,000.00
5,000.00
5,000.00
10,000.00
200.00
500.00
500.00
Rs.
6,000.00
Rs.
6,000.00
Rs.
24,500.00
Rs.
24,500.00
Rs.
4,000.00
Rs.
4,000.00
Rs.
3,000.00
Rs.
3,000.00
Rs. 1,01,420.00
Rs.
2,640.00
Rs.
440.00
Rs.
88,000.00
Rs.
1,320.00
Rs.
220.00
Rs.
8,800.00
Rs. 2,53,550.00
Rs.
6,600.00
Rs.
1,100.00
Rs. 2,20,000.00
Rs.
3,300.00
Rs.
550.00
Rs.
22,000.00
Rs.
39,800.00
Rs.
53,000.00
Rs.
8,800.00
Rs.
22,000.00
Rs.
Rs.
Rs.
616.00
440.00
176.00
Rs.
Rs.
Rs.
1,540.00
1,100.00
440.00
Rs. 1,79,336.00
Rs.1,64,664.00
Rs. 3,45,590.00
Rs.2,14,410.00
Project Management Institute Mumbai Chapter
Balance
THE BOMBAY PUBLIC

SCHEDULE --IX
Name of the Public Trust : PROJECT
Registration No.
Balance sheet as on
FUNDS & LIABILITIES
Trusts Funds or Corpus:Balance as per last Balance Sheet
Adjustment during the year (give details)
Other Earmarked Funds:(Created under the provision of the trust
deed or scheme or out of the Income
Depreciation Fund
Sinking Fund
Loans(Secured or Unsecured)
For Expenses
For Advances
For rent and other deposits
For Sundry credit balance
Current Liabilities and Provisions
Deposit received from Fine Inter Build
Salary
Professional Tax - Employee
Designing expenses
Travelling expenses
Refreshment expenses
Audit fees
TDS on service
Conveyance expenses
Postage and courier charges
Programme fees for F.Y 09-10
Income and Expenditure Account
Balance as per last Balance Sheet
Less
: Appropriations, if any
Add
: Surplus As per Income and
Expenditure Account
Less
: Deficit as per Income and
expenditure Account
FUNDS & LIABILITIES
Rs.
Rs.
36,15,800.00
33,24,593.00
69,40,393.00
35,000.00
9,423.00
235.00
4,020.00
10,025.00
1,650.00
11,030.00
773.00
382.00
407.00
13,000.00
85,945.00
35,44,882.33
1,69,415.87
33,75,466.46
1,04,01,804.46
For Vaishampayan & Padhye

Chartered Accountant
Dated : 30th June 2009
12
9th Annual Report
Sheet
TRUST ACT,1950
[Vide Rules 17(1)
MANAGEMENT INSTITUTE MUMBAI CHAPTER
F-9144-THANE
31st March,2009
PROPERTY AND ASSETS
Immovable Properties :- (at cost)
Balance as per last balance sheet
Add: Additions during the year
Less: Sales during the year
Less: Depreciation
Fixed Assets
Balance as per last balace sheet
Add: Additions during the year
Less: Sales during the year
Less: Depreciation
Investments
ICICI Bank Government of India 8% Saving
Bonds
FDR with Bank of Baroda
Loans ( Secured / Unsecured)
( Good / Doubtful )
Closing stock
Advances
To Trustees
To Employees
To Contractors
To Lawyers
To Others ( MTNL Deposit )
To Prepaid expenses
Tax Deducted at Source F.Y.2006-2007
Tax Deducted at Source
Registration charges of the premises
Income Outstanding
Interest
Other Income
Tel. Exp. Receivable
Cash and Bank Balances
(a) In Current Account with
Bank of Baroda
(b) With the trustee
(c) With the manager
Income and Expenditure Account
Balance as per last Balance Sheet
Less: Appropriation, if any
Add: Deficit as per Income and expenditure A/c
Less: Surplus as per Income and expenditure A/c
PROPERTY AND ASSETS
Rs.
Rs.
46,00,000.00
4,00,000.00
50,00,000.00
87,505.34
33,512.50
95.00
62,265.66
58,657.18
8,00,000.00
12,00,000.00
20,00,000.00
1,05,090.00
3,000.00
1,15,599.00
10,782.80
35,388.00
47,688.00
62,531.00
1,33,555.00
1,60,656.04
24,137.50
2,74,988.80
2,92,000.00
3,18,348.54
22,28,982.69
1,23,737.25
23,52,719.94
1,04,01,804.46
Trustee
9th Annual Report
13
Income and
THE BOMBAY PUBLIC
SCHEDULE --IX
Name of the Public Trust : PROJECT
Registration No.
Income and Expenditure Account for
EXPENDITURE
To Expenditure in respect of properties
Taxes, Cesses
Repairs and Maintenance
Salaries
Insurance
To Opening Stock
Stock in hand as on 01.04.2009
Depreciation (by way of provision or adjustments)
Other Expenses
To Establishment Expenses [See Annexure I]
To Remuneration to Trustees
To Remuneration (in the case of a month) to the head
of the month,including his household expenditure,if any
To Legal Expenses {Accounting Charges}
To Audit Fees
To Contribution and Fees
To Amount written off :(a) Bad Debts
(b) Loan scholarship
(c) Irrecoverable rent
(d) Other items
To Miscellaneous Expenses
To Depreciation
To Amonuts transferred to Reserve or
Specific Funds
To Expenditure on objects of the trust
(a) Religious
(b) Medical Relief
(c) Relief of Poverty
(d) Other charitable objects[See Annexure II]
31.03.2009
136470.00
595753.27
11030.00
16613.95
62265.66
3324593.00
2401996.21
6548722.09
14
9th Annual Report
Expenditure Account
TRUST ACT,1950
[Vide Rules 17(1)

MANAGEMENT INSTITUTE MUMBAI CHAPTER
F-9144-THANE
the year ending : 31st March,2009
INCOME
By Rent
(realised)
(accrued)
By Interest
(Accru ed )
(realised)
On Securities
On Loans
On Bank Account( Fixed Deposit )
By Dividend
By Donation in cash or kind
By Grants
By Receipt from Foreign Contribution
By Income from other sources
(in details as far as possible)
Membership Dues
Programme fees
Advertising Income
Sponsorship
Miscellaneous Income
By Closing Stock
Stock in hand on 31.03.09
By Deficit carried over to Balance Sheet
31.03.2009
0
0
40000.00
0.00
130808.00
0.00
3324593.00
0.00
0.00
646474.92
2072890.30
6000.00
50000.00
3450.00
105090
169415.87
6548722.09
9th Annual Report
15
ANNEXURE - I: ESTABLISHMENT EXPENSES

Particulars
Compensation for use of premises
Bank Charges
Bonus
Computer expenses
Insurance
Labour charges
Maintenance Rent Expenses
Salary
Telephone Expenses
Conveyance expenses
Domain Registration Expenses
Email Expenses
Interior ( Consulting ) Expenses
Designing expenses
Professional Tax
TOTAL Rs.
Rs
157848.00
1601.00
9119.00
13714.85
11269.00
12000.00
100800.00
120000.00
19785.55
91813.50
2500.00
18782.37
30000.00
4020.00
2500.00
595753.27
ANNEXURE - II: EXPENDITURE ON THE OBJECT OF THE TRUST

Particulars
Booking Hall Charges
Course Bag
Course T-Shirts
Hire Charges
Honorarium
Hotel Booking
Postage and courier
Printing and stationery
Professional fees
Refreshment
Registration expenses
Seminar expenses
Travelling Expenses
Website Expenses
Advertisement Expenses
Books and periodicals
Outdoor Course conveyance
Training Fees
Trophies
TOTAL Rs.
16
Rs.
390288.00
56275.00
68028.00
14377.00
408451.00
36468.00
17234.00
160590.80
42299.50
328696.00
7563.00
34250.00
135274.45
8633.80
24583.00
609525.66
34900.00
6500.00
18059.00
2401996.21
9th Annual Report
Reliance Ratio
Largest Income
Total Income
Ratio
Donations
3324593
6379306.22
Too much reliance on

52% one income
Earned Income Ratio

Total Income
- Donations
- Closing stock
Total Earned Income
Ratio
6379306.22
-3324593
-105090
2949623.22
46% This should be increased
Self-Sufficiency Ratio
Total Earned Income
2949623.22
Expenditure
- Opening Stock
- Depreciation
- Amount transferred to reserve
Total Expense
6548722.09
-136470
-62265.66
-3324593
3025393.43
Self sufficiency ratio
97% Almost self sufficient
Personnel costs ratio

Total personnel costs
Total expenses
Ratio
120000
3025393.43
4% Check the trend
Admin cost ratio

Admin cost
Total expenses
595753.27
3025393.43
Ratio
20% Check the trend
Income Expenditure Ratio

Income
- Closing Stock
Total income
6379306.22
-105090
6274216.22
Expenditure
- Opening Stock
Total Expenditure
6548722.09
-136470
6412252.09
Ratio
Expenses are almost

98% covered by income
Cost per unit of service

Number of members
Total Expenditure
806
6412252.09
Ratio
per member. Partly

covered by revenue
7,956 generating activities
Non revenue generating activities Cost per unit-of-service

Number of members
Admin cost
Audit fees
Depreciation
Non-revenue generating activities cost
Ratio
806
595753.27
11030
62265.66
669048.93
per member. Check with
830 Membership dues
Current Ratio
Investments
Closing Stock
Advances
Registration charges
Cash and Bank Balances
Current Assets
Current Liabilities
Ratio
20,00,000
1,05,090
2,74,989
2,92,000
23,52,720
50,24,799
85,945
58
Debt Ratio
Total Liabilities
Total Assets
Ratio
85,945
1,04,01,804
0.008262509
Days Cash on Hand

Annual Expenditure
- Opening Stock
- Depreciation
- Amount transferred to reserve
Total Expense
One day cash requirement
Total Current Assets
Ratio
65,48,722
-1,36,470
-62,266
-33,24,593
30,25,393
8,289 per day
50,24,799
606 days
Reserves per unit of service

Number of members
Trust Funds or Corpus
Transfer from Income and Expenditure
Total Reserves
Ratio
806
69,40,393
33,75,466
1,03,15,859
12,799 per member

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Financial Management for Chapters:

Tejas Sura, PMP, Region 11 Mentor

Vice-President of Finance/Treasurer/Finance Director

Policies and Procedures - Applying PMBOK processes

Statutory & PMI requirements

How many of you are chapter board

How many of you have handled finance

Financial Management for Chapters: Keys to Success

Roles And Responsibilities

Roles And Responsibilities

Roles Specific Skills

Documentation Skills/Financial Record Keeping

Other Leadership Skills

Other Information from Survey

Non-Profit Board Member Duties

Financial Management for Chapters: Keys to Success

Onboarding and Transitioning

Onboarding and Transitioning

Sources Of Information from PMI

Sources of Information from PMI

Trainings Available on PMI Learn

Financial Management for Chapters: Keys to Success

POLICIES AND PROCEDURES

Applying PMBOK Processes to Chapter

Plan Cost Management

Less than 100

100 to 600 members

600 to 1,200 members

Financial Administration and Records

Financial Administration and Records

Must be designed for

Financial Administration and Records

Financial Administration and Records

Financial Administration and Records

Financial Administration and Records

Financial Administration and Records

Financial Administration and Records

Chapters with financial assets

Region Mentor Travel Grant

Financial Administration and Records

Financial Administration and Records

Financial Administration and Records

Financial Administration and Records

Perform Finance Control

Perform Finance Control

Perform Finance Control

Perform Finance Control

Yearly Board & Membership

Yearly Board & Membership

Yearly Board & Membership

Perform Finance Control

Reliance on Sources of income

Awareness of the risk of a major

Earned income Ratio

Organizations with earned income

The proportion of operating expense

Personnel cost Ratio

Changes in percentage of budget

Perform Finance Control

Admin cost Ratio

Changes in percentage of budget

The proportion of expense that are

Cost per unit-of-service