Loomio
Wed 2 Jan 2019 4:58AM

ELF Budget for 2019

DC Dean Cameron Public Seen by 7

please have a look at this and make comment on the assumptions. There is quite a bit that needs discussion here before I put up a proposal to accept this budget. Sam requested that we split the sheet up into rentable areas so this is how the income is constructed. All of the proposed development work for accommodation makes financial sense. On this basis, we have a clear path to construct a refinancing proposal. The sooner we can get the loan to finish the western apartment the better we are off financially. I have conservatively assumed we won't have that apartment rented until June. Every month sooner we can do it is a month we are ahead instead of behind. If we can get consensus on what the final budget should look like then we can do the sums on the other accommodation proposals. For example, if we could have the eastern apartment rented by September we will be ahead every month from there on. Ie we are financially sustainable. There will be a temporary glitch in cash flow when we have to move to the refinanced loan agreement but as soon as the two appartments and container are complete we will be well on top even though we will have a higher monthly repayment amount.

DC

Poll Created Wed 2 Jan 2019 7:36PM

Have you made a comment on the budget spreadsheet. Closed Sat 5 Jan 2019 7:02PM

If you haven't commented you probably are not engaged!

Results

Results Option Voters
Yes 4 T DC MK S
No 0  
Undecided 5 P RW AL NH DU

4 of 9 people have participated (44%)

DC

Dean Cameron
Yes
Wed 2 Jan 2019 8:14PM

what do people think about the idea of Alex's room being rented for half price as shown in the budget sheet?

MK

Monique Kurdian
Yes
Wed 2 Jan 2019 8:37PM

I just realised I have commented but not to the question asked! Re: Alex's room being rented for half price, I understand that Tom & Nicole would like sole use of the bedroom for Alex. Has this discussion been held yet as a group and does the vote take this into account?

T

Tom
Yes
Thu 3 Jan 2019 7:07AM

MK

Monique Kurdian Wed 2 Jan 2019 8:37PM

Dean, have you factored in repaying Luciano's $2K?

P

pospi Fri 4 Jan 2019 3:59AM

RE Alex's room, I can't be sure of my answer to that until I see what the numbers are. If it makes financial sense for us to do it that way, then let's do it that way. But if we end up behind on payments and stressed financially as a result of not optimising income then I have my reservations..

DC

Dean Cameron Sun 6 Jan 2019 11:39PM

This discussion is not really about alex's room. That was just to make the point that the spreadsheet I attached of necessity has a lot of assumptions in it, and unless people think about those assumptions and agree with them then the spreadsheet is a useless exercise. There are proposed new refinance loans (and timing assumptions) for particular amounts and property boundary realignment loans factored in to it so it should, if people are reading the spreadsheet, prompt lots of questions that need to be put as new proposals (like I have the boundary realignment proposal) for a group vote. Lets please engage with the spreadsheet and participate in taking the decisions to give legitimacy to the assumptions.

P

pospi Tue 8 Jan 2019 6:32AM

Well said Dean, so #1 I think we all need to have a discussion about Alex's room. We can do that as a thread under this message, or fork it off to a separate discussion- whatever makes sense. For me I think I'd like to see what the numbers look like with it rented for full price, how soon we could expect that etc and how it affects our financial sustainability in the long run. Ideally we can get to a point where we have separate forecast spreadsheets done up for a variety of conditions and we can all see, understand & compare them so as to sign off as a group.

A

adamfriedman Wed 15 Nov 2023 3:09PM

It's encouraging to see the thorough analysis and financial planning for the proposed budget. Your approach to splitting the sheet into rentable areas is a smart move, providing a clear breakdown of income sources.

Given the financial sense behind the proposed development work for accommodation, focusing on a refinancing proposal seems like a strategic step. The emphasis on completing the western apartment and aiming for an earlier rental start date is a wise decision, considering the potential financial benefits.

It's crucial to align on the final budget to move forward with confidence. As discussions progress, exploring options like https://fitmymoney.com/need-money-now/ can offer insights into short-term financial solutions if needed.

Overall, the detailed planning and emphasis on financial sustainability are commendable. Here's to a successful consensus on the final budget and the timely completion of the accommodation proposals.