SHARE will continue to build towards $1,200,000 for ILS software replacement (if ever needed) and $400,000 for continued infrastructure maintenance or upgrades.
The SHARE end-of-year cash balance (revenues over expenditures) should hold between 3-6 months of operating cash for the next fiscal year, based on the current year budget. This benchmark will serve two purposes. First, this will allow SHARE to meet financial obligations at the beginning of the year, before invoices are billed and while larger expenses are due; second, it will ensure SHARE is a responsible steward of member fees and serve as guidance for the committee. If this benchmark either falls below or exceeds this benchmark, the SHARE Finance & Policy Committee will review revenues, including member fees.
Adopted 03/11/2021