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GWA - Jan. Board Meeting

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John Mapelthorpe

on 19 January 2013

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Transcript of GWA - Jan. Board Meeting

GWA Board Meeting Jan. 2013 Fixed vs. Variable Cost Salaries
Annual Fees
Equipment Lease
Security Two Options:
Approve '12-'13 deficit budget, roll remaining deficit into next year's member fees. (approve 2 budgets today that, combined, are balanced)
Decrease all remaining variable expenses by about 45%, essentially going over budget but meeting the "Balanced Budget" requirement. Scenario Assumptions Enrollment of ONLY 715 students.
'13 - '14 Budget Year ONLY
NO leaseback/refinancing
Rent does not fluctuate
3.5% CAP on tuition for:
K2, K3, K4, K5
Corporate Rates (includes preferred enrollment, waive the application fee)
3% CAP on LYA Our 5 Scenarios Cash Flow December/January Where are we today....? Cash Flow '12-'13 Budget '13-'14 Budget/Mem. Fees Academic Consumables Operational Supplies
HR / Recruiting
Staff Wellness GWA sent out 3rd quarter billing emails the beginning of Jan. (earlier than normal, as planned)

Slow mail 3rd quarter membership bills went out 1 week later.

Calling trusted parents to determine if they can come in early to pay 3rd quarter.

New signage at the front gate informing parents that payment can be made now. (starting Monday)

We will know a lot more in one week. Dec-12
GES Rent Dec 783,334.00
Bank Loan 1,000,000.00
Payroll January 2,870,721.76
GES Rent Jan 886,430.61
Landlord Rent Feb 29,600.00
Utilities 105,000.00
G4S 58,982.36

Total Due5,734,068.73 Plan to get through Dec. was successful. (overdraft, delayed GES rent, slow pay, etc) Total due by end of Jan. = 5.7 million (including utilities, normal bills) Where are we today??
He have had a long 8 months correcting many accounting errors (LYA, MCD, etc) and reallocating line items, while trying to determine exactly what was needed. We know now but....
We really are down to the end of the budget line. Some departments have nothing left for the rest of the year because of drastic cuts.

Almost all of our costs are fixed Only 6.7 mil of the original budget were variable costs. (11.3%)

We cut completely over 600K from that (11.3%)
4.0mil has already been spent (nearly 66%)

As of December 31 - there is only 2.1 mil left to be spent of variable costs this year. So, where do we cut out 950K?????!?!?!? Cafeteria Menu 2012-2013 GWA - CAS Comparison GWA Admin. Recommendations 1. GWA Administration recommends that membership fees for the '13-'14 year are decided and communicated by Jan 31st.

2. GWA Administration recommends that scenario 3 be approved WITH a leaseback/refinancing option that caps membership fees by no more than 5%, but in the interim we recommend that scenario 2 be provisionally approved.

3. GWA Administration recommends that if no leaseback/refinancing is available by Jan. 31st 2013 then scenario 2 be approved and communicated out before Jan. 31st 2013. Attrition Sc. 2: GWA -CAS Comparison 2008 - 2011 Average Attrition was 51. (48, 52, 53) 2011-2012 attrition was 39, not counting the graduating class.
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