Payroll & Budget System
Members listed on the Committee page of this website are on a payroll approved at the 2018 AGM. The requirement for a budget was passed at the 2017 AGM.
Pay is 20min/week @ U35 = U11.66 for each week worked. For each week you didn’t do anything, you’re not paid. This is to encourage regular, reliable attendance to work. It is an honour system; members are asked how many weeks they worked. Weeks not worked means Units can be passed onto other working members.
Payment frequency is quarterly. Pay is for 50 weeks: Holidays are the 1st week of January and the 1st week of December. The 2nd and 3rd quarters are 12 weeks, 4th and 1st quarters are 13 weeks.
The budget is based on the previous financial year’s income from transaction levies and any annual levy. For example, the revenue that was collected by the 4% transaction fee on every trade in 2017/18 was approximately U5000.
1st quarter July – Sept (13 weeks) = U1300
2nd quarter Oct – Dec (12 weeks) = U1200
3rd quarter Jan – March (12 weeks) = U1200
4th quarter April – June (13 weeks) = U1300
The current budget prioritizes those with the most responsibility: 3 Management Committee members and 5 Management Support Team workers. Other expenses the organisation expects such as other Team members, sundries, materials and ad hoc payments to non-payrolled workers need to be budgetted for. Admin has not raised enough Units to pay more working members, however, survey results indicate there is member support for an annual Unit fee to support working members.
The annual budget will be checked and approved by the Management Support Team after the end of each financial year around the time of the MC’s AGM.
Simon Cole, Acting CES Website Administrator and Units Treasurer