Theatre Design & Technology - Spring 1994 - 69

1994/95 BUDGET PRESENTED
TO BOARD OF DIRECTORS
In 1963, when USITI applied to the Internal Revenue Service
for its 501 (c)3 tax exemption status, there was a single Fund
Balance of $1,394, income of $4,820, and expenses of $3,966
for the year ending 31 December 1963. The 1994/95 budget
presented to rhe USITI Board of Directors at the Nashville
meetings includes the first projecrion of more than $1 millIon
in operating revenue!
..
.
The current USITT budget proposal includes acnvlry In
more than 250 individual account lines. Complete with subtotals for as ociated areas of activiry, the printed USITI budget
requires about five pages of small rype to fully present. A
USITI officer is responsible for and serves as an advocate for
every area of USITT acrivity and the organization of rhe
expense section of the budget lists the activities under a subtotal for each office.
The budget process is initiated in the fall of each year with
budger requesr forms sent by rhe Finance Chair to each of .the
officers. The officers send rhese forms on to those responsIble
for the activities they supervise. The budget request forms are
returned to the officer and sent with the officer's recommendations to the finance chair. At the Winter Board meeting, the
Finance Committee reviews the requests and conducts budget
hearings. A subcommittee of the Finance Committee together
with the USITI President or President-Elect meets in January
to fine tune the budger requests and offers a balanced budger
proposal to the Executive and Finance Committees for their
review. Following this review, a proposed budget is presented
to the Board of Directors at the Conference meetings for
approval and adoption. The budget year begins on July 1.
The budget is reviewed by rhe Finance Committee ar rhe
Summer Board meerings and again by rhe Finance subcommlrtee ar rhe January meeting, following six months of financial
activiry. Adjustments to the budget are made during both of
these review processes.
During rhe fiscal year rhe Finance and Execurive
Committees, the Narional Office staff, the Conference Chair,
and subcontractors receive a monthly budget report showing
activiry for the previous month and the total activiry to date.
The Board of Directors receive these reports wirh each report
package prior to a board meeting. Following rhe conclusion
of a fiscal year, US ITT's financial activity is reviewed by a
CPA and copies of rhe Financial Review are presented to each
member of the Board of Directors and Finance Committee.
Money: USITT Budgets, Vouchers, and Details, a
brochure which includes sample USITI forms, a copy of a full
budger, financial policies, and full explanation of rhe USITI

budget process, is available from the USITI National Office
upon req uesr.
Glancing through or studying the abbreviated budget
shown here should give you a good idea of the extent of activity supported by USITI. What is shown here does not even
touch the surface of the rhousands of volunteer hours and
other contributions made to USITI by the many, many members who are involved in the activity of USITI.

PROPOSED 1994/95
USITT OPERATING BUDGET
BUDGET SUMMARY AND FUND TRANSFERS
I COME
Membership
Publications
Other Income
Projects
Las Vegas Conference
SUBTOTAL INCOME

$267,994
143,905
7,000
25,250
572,175
Sl,016,324

FUNDS TRANSFERS TO OPERATING FUND
Conference Fund
$100,000
TOTAL INCOME

Sl,116,324

EXPE SES
Office of President
National Office
Office of Secrerary
Office of Treasurer
Office of VP-Relarions
Office of VP-Marketing & Development
Office of VP-Commissions
Office of VP-Communications
Las Vegas Conference
Special Allocarions
Contingency
SUBTOTAL EXPE SES

$139,360
137,967
1,436
38,650
14,700
29,141
36,878
139,115
413 425

o
6,902
S 957,574

FUNDS TRANSFERS FROM OPERATING FUND
Conference Fund
$150,000
Commissioners Fund
8,750
TOTAL EXPE SES

Sl,116,324

T D & T

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S P R I N G

Table of Contents for the Digital Edition of Theatre Design & Technology - Spring 1994