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Financial Plan Outline
 
Introduction
  1. Financial Plan (FP) enables medium and long-range planning and goals.

  2. FP is derived from company philosophy and goals.

  3. FP requires goal setting and pragmatic evaluation by Executive Council.

  4. An FP reduces company flexibility.

Scope
  1. The proposed FP will be used to direct medium- and long-range goals of the STC-HPS.

  2. The FP can be amended or dissolved by a majority vote of the EC.

  3. The goals of the FP will be based on the education, research, and public policy goals of the STC-HPS.

Analysis
  1. Excellent fiscal status 1994 until present.

  2. Current funded initiatives:

  1. Scholarships (2/yr): ~$2,000 annually.

  2. Science Teacher Workshops (4/yr): ~$3,200 annually

  3. STC-HPS Professional Meetings (4/yr): ~$6,000 annually (wide variation)

  4. Neff Student Awards (2/yr): $1,500 annually

  5. Science Fair Support: ~$250 annually (varies)

  6. Others?
     

  1. Income analysis

  1. Scholarships - Even

  2. Meetings - Small profit

  3. STW - Large deficit

  4. Others - Small deficit
     

  1. Evaluate and prioritize initiatives

  2. Determine what income will support each initiative

Actions
  1. Interest-bearing checking account

  2. Move a portion of funds from operating account into interest-bearing account

  3. Determine required funding for Science Teacher Workshops (4/yr)

  4. Evaluate additional income sources

  5. Draft FP for next EC meeting

  6. Compare Draft FP with STC-HPS charter/philosophy

Initiatives
  1. Scholarships (discuss)

  2. Science Teacher Workshops (self-supportive and/or cost containment)

  3. Professional meetings (cost containment)

  4. Membership expansion

  5. Services to STC-HPS membership

  6. Sponsoring STC-HPS Radiation Safety Officer Handbook (Navigator)

  7. Increased electronic media

  8. Public policy shaping (difficult and expensive)

  9. Research or TDH-BRC intern sponsorship (self supportive)

  10. National HPS goals?

  11. Others?

Revenue Sources
  1. Membership dues

  2. Affiliate dues

  3. Donation

  4. Meeting registrations

  5. Investment income/interest

  6. Services and products

  7. Others?

 
 
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01.13.06
 
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