Budget Process
Published on April 28, 2024 by Nick Graham
Dear weavers,
Many thanks again to all those who contributed to our crowdfunding! Herby sharing the outcomes of our crowdfunding process.
Decision process: Co-Founders Nick Graham & Vishal Talreja draft the process, invite The Weaving Lab Board to review & advise.
WL Board (Noa Lodeizen, Ross Hall, Victoria Haro & Nick Graham) give final approval on process and allocations.
Decision on how to allocate funds: prioritise ‘keeping the lights on’ costs, rather than allocate % of funds across all submitted expenses. Need to have all expenses submitted for prioritisation to take place. Keep a buffer for contingency funds eg mapping, event costs.
Prioritisation:
1. ‘Keeping the lights on’ Admin Costs €960 pa
Website Hosting €50 pa
Zoom €150 pa
Email €200 pa
Community Platform Mighty Networks: €450 pa
Open Collective 3% of income: €45 pa (moving to 5%)
Bank costs €65
- Costs covered for 2022-2024 where relevant.
2. Buffer for contingency funds TBC
Mapping - Sumapp €270 initial budget
TBC
Specific details of expense items can be seen here: https://opencollective.com/the-weaving-lab/expenses
Other notes
- Decision on Bunq bank fees - paid by Bioregional funds in the future. Prior costs still to be allocated from crowdfunding.
- Move to Annual payments where possible, if cost savings warrants this.
- Decision on Mighty Networks - keep on a monthly basis until we find something better. Invite other team members to ask for stewards, joining Vishal
- Keep the crowdfunding campaign open. Special attention once a year before Xmas, to potentially align with Giving Tuesday and run through the holiday season.
👍️ 1
Vishal
Posted on April 29, 2024
I believe it is a great idea to align our annual fundraising campaign with Giving Tuesday.
Warm regards,
Vishal