PPC STATE BOARD MEETING Monday, October 12, 2015

PPC STATE BOARD MEETING
Monday, October 12, 2015 - 9:11 AM
The Ridge Resorts
Lake Tahoe
400 Ridge Club Drive
Stateline, NV. 89449
MINUTES
Call to Order – 9:11 A.M. – Chairman of the Board: Jim Doyle
Present:
PPC President: Jim Paliungas
Chairman of the Board: Jim Doyle
PPC Executive Board: Jim Paliungas, Steve Roosa, Steve Folino, Robin Swanson, Sharon Lobel
PPA Councilors: Marcy Dugan, Robin Swanson, Steve Folino, Don Benson, Sandra Harris
Past Presidents: Sandra Harris, Marcy Dugan, Jim Doyle, Roger Daines, Don Benson
PPC Members Present: Bruce Bonnett, Duane Murphy, Michael Sauer
Acknowledgement of Guests: None
AGENDA:
A. Invocation – Roger Daines
B. Pledge of Allegiance – Bruce Bonnett
C. Roll Calls – Secretary Sharon Lobel
1. Affiliates Roll Call
2. PPA Councilors
3. Past Presidents
4. Acknowledgement of Guests
Affiliate President / Representative / Voting as of this date October 12, 2015
Affiliate
President
Representative
Voting #s
as of this
date
All Valley Professional
Photographers (AVPP)
Ellen Close - Pres
Ken Hammer - VP
Robin Swanson
2
Channel Islands PPA
(CIPPA)
Alex Neumann – Pres
Larry Skibiski - VP
Steve Roosa
2
Gold Coast PPA (GCPPA)
Michael Collins – Pres
Nancy Snyder - VP
Debbie Oliver
2
Inland Empire PPV (IEPPV)
Bruce Bonnett – Pres
Kim Shapiro - VP
Bruce Bonnett
4
Professional Photographers
of Los Angeles County
(PPLAC)
Mel Carll – Pres
Sharon Lobel - VP
Mel Carll
2
Professional Photographers
of Orange County (PPOC)
Duane Murphy – Pres
Rick Valasek - VP
Duane Murphy
Professional Photographers
of Sacramento Valley
(PPSV)
Steve Folino – Pres
Jim Trapp - VP
Steve Folino
Professional Photographers
of Santa Clara Valley
(PPSCV)
Roberto Gonzalez – Pres
Rudy Pollak – VP
na
Professional Photographers
of San Diego County
(PPSDC)
Oliver Asis - Pres
Janet Bark - VP
Roger Daines
Total
Votes in attendance are 17 out of a total of 21.
Quorum was present – October 12, 2015
D. Roger Daines called for motion to approve the previous meeting minutes.
MOTION: Roger Daines moved to approve July 20, 2015 minutes as presented.
violation
2
violation
3
17
Don Benson seconded. Motion approved & passed.
E. Additions to Agenda: None
F. List of reports submitted for Consent Calendar. See Exhibit A: Consent Calendar
G. List of “pulled reports” submitted for Consent Calendar
1. California Sunday Report - Roger Daines
2. Scholarship for WCS - Marcy Dugan - tabled til later when more affiliates are at meeting.
3. CPP - Marcy Dugan
H. Approval of Consent Calendar
MOTION: Steve Roosa moved to accept the Consent Calendar with the exception of the ‘pulled reports’.
Steve Folino seconded. Motion passed.
I. Discussion of ‘Pulled reports”
1. Roger Daines stated that he would like to express his actions for future California Sundays. The
California Sunday’s will be hands on classes. He would appreciate anyone that is interested in
leading a class to contact him. The instructor will get a PPC and PPA merit for presenting a class.
2. Marcy Dugan asked all affiliates that are interested in the WCS Scholarship please present a check.
The drawing for 6 scholarships are: All Valley, Sacramento, Los Angeles, Gold Coast, Orange
County, Inland Empire.
- April 1st will be the deadline for the recipient to notify the Ex. Admin office, Mel Carll,
to state use of scholarship towards his/her tuition only.
3. Marcy Dugan - Open discussion for CPP - Open discussion regarding CPP director and benefits
for PPC. This issue will be discussed after the election of President and Jim Paliungas will also
discuss with Jose Quintanilla regarding the CPP position.
J. Financial Report: Robin Swanson - See Exhibit B: Treasurer’s Report
1. Robin Swanson presented her financial report ending September 30, 2015.
2. Robin stated that our current Judging Academy director, Tim Mathiesen, was being paid to hold the
judging academy classes. If he becomes PPC President, the PPC can no longer pay him because it
will be a conflict of interest.
Open discussion to remove this payment to the Judging Academy director.
Steve Roosa made a motion to no longer pay the Judging Academy director, but to only
Reimburse him/her after the board approves the expenses.
Roger Daines seconded the motion. Motion passed.
3. Open discussion regarding the Expo and Conference budget. Robin stated that we would not be
holding the Expo and Conference at Brooks in Ventura due to Dea Meyer’s illness.
4. Open discussion regarding the scholarship funds on hand and future donations.
Regarding the NCPP donation to PPC - Bruce Bonnett stated that his affiliate will also donate to
PPC if we dissolve the affiliation. He will be looking into how his Bylaws and standing rules state
donations.
10:25 AM - 5 minute break
Ja. Budget Report: Robin Swanson - See Exhibit C: Budget Report
1. Open discussion….Michael Sauer stated that the board needs to look into cleaning up the “Chart of
Accounts”. Not only for present accounting but for the future. Robin and Michael will get
together and resolve.
2. PPC Logo. Jim Doyle and Sharon Lobel will get together and properly mark the PPC logo with
TM / R and will place in drop box for all to use correctly.
3. Open discussion regarding constant contact cost and benefits - number of emails (6000+), jpg’s,
etc…Roger Daines stated we have a premium account with constant contact.
4. Open discussion regarding membership packages. The hold up for this last year has been the
trademark on the logo. Now we can move forward with printing.
5. Open discussion regarding the PPW magazine. Possibly go to 6 web publications. This will be
discussed at a later board meeting.
6. Super Shoots - Sandra Harris stated that we need to have a Super Shoot up North for their
members. Jim Paliungas commented that we will get involved with a Super Shoot at a railroad
museum up North.
7. Website domains : PPCOnLine, PPEC-Pro Photo Expo & Conference, WCS-West Coast School,
PPW-ProPhotoWest.
MOTION: Steve Folino moved to accept the 2016 Budget. Roger Daines seconded. Motion passed.
K. Executive Administrator Report: Mel Carll
PPC Members:
Honorary - 18 members
Past Presidents - 38 members
Join & Go 2015 - 45 members
Premium - 13 members
Professional - 169 members
Retired - 7 members
Students - 4 members
Vendor - 1
Total 295 members
L. President’s Report - Jim Paliungas…See Exhibit D: President’s Report
1. Sharon Lobel & Ana Montgomery was presented an “Above & Beyond” from Jim Paliungas.
President's Report
October 2015 Board Meeting
The 2015 year is slowly coming to a close with only a couple of months to go and PPC has had more than
it's share of challenges throughout this year. This will be my last formal board meeting before the new
President takes over for the incoming year.
Although we've had our share of difficulties there are many changes that have been made to continually
improve and help PPC grow. We have some truly exciting things happening with the Professional
Photographers of California.
As our numbers are still coming into West Coast School signed 95 students for 2015. Although we did not
reach our projected goal of 100 students, West Coast School still showed a profit of nearly $18,000 for
2015. Next years plans are to reduce printed materials and increase social media advertising such as
Facebook and Instagram thereby reducing expenses.
We’ve implemented a committee that includes PPC Past President, Marcy Dugan along with an additional
staff of people to assist WCS Director, Lorenzo Gunn who will be handling the school and events once
again for 2016. Marcy and her team have already begun implementing new and creative ideas and changes
to make next year even more exciting and much more efficient as well. The WCS Office has also been
moved to her business streamlining her efficiency.
Lorenzo has already set up an excellent group of instructors, and continues to work hard at bringing even
more exciting people to teach at West Coast School.
This year for the first time we introduced the Super Shoot. I personally developed this program and with
the assistance of a great committee, which included Sharon Lobel, Ana Montgomery, Kristi Elias and
more, we produced the WWII Super Shoot. We had 4 Top Instructors, 9 WWII Aircraft, 4 make-up artists,
and 14 models dressed in the theme of the Era. The event was a tremendous success, well received and
proved to be profitable. Our plans are to have at least two similar events in the future starting this next
year. There are other plans and events also in the works.
We hope to also produce a similar event at the Train Museum in Glendale, or an Automobile Museum,
making it a fun filled activity that provides lots of hands on experience. Other educational classes and
revenue streams are also being considered.
Our plans were to produce conference and expo at Brooks Institute this year. Although we got the ball
rolling with the efforts of Dea Meyer who put forth a very strong start and effort in lining things up, we
sadly had to cancel the event. Dea is contending with some health issues and needed to withdraw herself
from the position. Under the circumstances the board elected to cancel the event this year. But thoughts
are to put other things in it's place for next year. Please extend kind well wishes to Dea who has worked
very hard for this organization.
Peggy Roosa, is the New Pro Photo West Editor for our magazine. Peggy came on board in the late
summer and has had excellent experience with the success of the magazine in the past. We know she will
do an excellent job for us in the future. We anticipate the same quality we've enjoyed in the years past.
She brings a great deal of professionalism and expertise along the way, particularly as a writer. She
possesses a Masters Degree in business and is well versed in the publication arena.
The magazine will continue to be electronic for the time being, at least until things are back on track. We
are making several changes to make it far more convenient for readership.
Karen Nakamura will be in charge of Print Competition once again next year. Karen did an excellent job
for PPC this last year and I’m certain will do a great job again in 2016 as well. Print Competition will be
held at Tri Community for the first time, which will save a huge expense to PPC thanks to the efforts and
hard work of Tim Mathiesen and Karen Nakamura. PPC Print Competition is scheduled for February 28,
2016 with some exciting new additions.
In closing, we have had a tough year and many changes needed to be made, but that is often not unusual
within a non-profit organizational structure. Additional changes are also in the forefront.
There continues to be a bright future for PPC, and it’s success is much dependent on our members, the
people like you. Many people have dedicated and contributed much of their time to its longevity. PPC is a
wonderful organization, which provides so much in the way of inspiration, education, and most of all
camaraderie. Help us to continue to make it the fine organization it has always been.
I wish to thank all of you that supported and helped me grow during this year. It has been a great pleasure
and an honor to serve you as President.
The only way this position is successful is through the cooperation and assistance of the team. I had a
great board and many who were supportive and helped along the way.
The success of an organization, a team, or a business is when people work synergistically together for the
good of the organization. It is the only way it will work. You MUST put differences aside and collectively
work together for the benefit of that organization.
Please kindly provide all of your enthusiasm and support for the next incoming President for 2016.
Thank you again,
Jim Paliungas
PPC President
Flash Discussions - 10 minute discussions
1. Steve Roosa - Regards to the Judging Academy payment to this director.
The Motion Submission form presented is as follows:
Motion being introduced: Instructor(s) for Judging Academy shall only be reimbursed for board approved
expenses (NOT reimbursed by another source) and DO NOT qualify for any other monetary
compensation.
- Jim Doyle stated that he would like to table this til the Judging Academy director is present.
- Marcy Dugan stated that it is a board decision.
- Steve Roosa stated that if this situation changed then it can be reversed.
- Roger Daines called for the vote to be passed because it is not in the budget. Marcy Dugan
seconded. All in favor…yes. Motion passed.
- Motion submission form given to secretary, Sharon Lobel.
Key Dialogues: na
Old Business: na
New Business:
1. Michael Sauer stated that who ever is elected President to select the future dates ASAP.
Jim Paliungas stated that there will be interim board meeting and will notify the new President.
2. Steve Roosa thanked everyone and stated how much he enjoyed serving on the PPC board.
3. Jim Doyle closed the meeting with the following:
BEING THAT THIS IS MY LAST OFFICAL ACT AS CHAIRMAN OF THE BOARD OF THIS
ORGANIZATION I WOULD LIKE TAKE A MOMENT IF I MAY.
As I stand here and look across this room I see a tremendous group of artistic, talented and dedicated
people. It has been an honor to work with all of you fine members of this board.
Although we have been through some tough times these last few years, we have turned the corner and you
should feel very good about your organization. AND you should be proud of yourselves, as the leaders of
this organization.
Sitting here this weekend listening, I would like to share some things that rang true for me;
Please, keep Dea and Tim in your thoughts.
Sharon’s Lobel comments about Bob Young’s “GET TOGETHERS” and MEMBERSHIP SPOTLIGHTS
Bruce Bonnet’s comment about this being HANDS ON
Steve Folino’s comment yesterday “THIS IS A ONE ON ONE BUSINESS”
They were all right on track. We have to engage new people to come join us – one on one and we have to sell
the benefits.
I think everyone will agree that
THIS ORGANIZATION LOOKS A WHOLE LOT BETTER FROM THE INSIDE OUT
THAN IT DOES FROM THE OUTSIDE IN.
And the image is something that takes time to rebuild and you folks are working on it.
Someone recently asked me SO WHAT’S THE BENEFIT of joining the affiliate or the state?
Well, I am sure that everyone’s answer is going to slightly different but most likely, if you boil it down
….the common theme would probably be
“Because it has made me a better photographer”
Think of the people you have met
Think of the friends you have made
Think about the things you have learned
Think about how it has made you a better person
Think about the things you have accomplished because of those friendships
Think about the things you could accomplish because of the relationships you developed.
ALL BECAUSE OF YOUR ASSOCIATION WITH THIS COLLECTION OF LIKEMINDED
PEOPLE.
Take from it what you want …
So when I am asked, it’s simple
You have to learn somewhere. I learn from seeing and doing. Not from watching a video.
I also have made some very good friends & I have definitely improved my photographic skills
Which in turn allowed me to significantly grow my business – or some might say it has helped me to
make money.
There is no magic to it.
As Nike says
JUST DO IT
Once again, it has been a pleasure serving on the board and thank you for your patience.
Future PPC Events: TBA
Future Board Meeting Dates:
January 23-25, 2016 - Location to be determined.
MOTION to adjourn: Roger Daines moved to adjourn the board meeting and Seconded by Mel Carll.
Motion passed. Meeting adjourned at 12:13 PM
MINUTES: The minutes for the July 20, 2015 PPC Board Meeting are located in the “Member Only”
section of the PPC website, www.ppconline.com.
State Board Meeting Minutes
Respectfully submitted by Sharon Lobel
PPC Secretary
October 12, 2015
Exhibit A: Consent Calendar
Professional Photographers of California
Consent Calendar
October 12, 2015
Affiliate Chair Report – Kristi Elias
No report given.
Kristi Elias
[email protected]
Awards and Degrees – Frank Peele
PPC members are reminded to submit Service Merit reports to Kathy Metz, using the report form
available on the PPC website.
Frank Peele
[email protected]
Service Award – Kathy Metz
PPC members are reminded to submit Service Merit reports using the report form available on the PPC
website.
Kathy Metz
[email protected]
California Masters - Tim Mathiesen
No report given.
Tim Mathiesen
[email protected]
Evans-Kingham and Hall of Fame Awards – Frank Peele
No report.
Frank Peele
[email protected]
Business and Arts Degree – Darlene Cothran
No report given.
Darlene Cothran
[email protected]
Bylaws and Standing Rules – Steven Roosa
No report given.
California Sundays – Michael Collins
We are currently looking for a person to head this committee. If you are interested contact Michael
Collins for more details on what the job entails.
Michael Collins
[email protected]
Certified Professional Photographer (CPP) Marcy Dugan
This is my second request to set up dates and times for 2016. Jose Quintanilla is teaching a class at Tri
Community and I will be proctoring the test for him. Date will be announced at a later date.
Since there has been no interest or participation in the CPP program in 2015, I feel that someone else
should take over being the Chairman for 2016. I will still be a liaison for CPP on behalf of PPPA.
Marcy Dugan
[email protected]
Past Presidents Advisory
No report given.
Roger B. Daines
[email protected]
Pro Photo Expo and Conference - Dea Meyer
To be reported at the quarterly meeting.
Dea Meyer
[email protected]
PPC Image Competition – Karen Nakamura
Creating ads
Starting to pick volunteers
Image comp date and location is set
Meeting with Jose Quintanilla to check out location
Creating a calendar with step by step to do's for next Image Comp Chair
Will start training someone to take my place when I want to pass on the position
In contact with Bay to see if they are willing to work with PPC again
Karen Nakamura
[email protected]
Judging Academy - Tim Mathiesen
The most recent workshop was held in Sacramento, co-sponsored by PPSV. The workshop was held to a
full house of 16 attendees. I am very happy with the turnout and the enthusiasm of those who attended.
Thank you to Steve Folio and the members of PPSV.
The next workshop is scheduled for Gold Coast PPA on November 16th.
A workshop is planned for the LA area in early December. Awaiting confirmation of the location.
Tim Mathiesen
[email protected]
PPC Nominating Committee - Tim Mathiesen
No report given.
Tim Mathiesen
[email protected]
History –
No Report given
Industry Advisor –
No Report given
Marketing & Branding –
No Report given
Membership No Report given
PPA Councilors - Paul Speaker
No report given.
Paul Speaker, M.Photog.Cr, CPP
Pro Photo West Report - Peggy Roosa
Status:
The next issue of PPW is on track for its October publication date.
Survey:
The BOD agreed with the Editor's plans to survey the membership regarding their
needs and expectations of the magazine. The compiled results will be used to
determine the magazine's focus and content, and will be reviewed at the October BOD
meeting.
Content:
Highlighted Photographer
Tech Corner
WWII Super Shoot Write Up
Google Gaggle
Classified Ads
TBD per survey results
Confirmed - Steve Roosa
Confirmed – Steve Roosa
Requested of Michael Sauer
In process (working out logistics)
Advertisers:
Do I Really Need a Tripod
Lightroom Lightroom Lightroom
Photoshop Life Hacks
Calendar of Events
Editor's Message
President's Message
WCS Promotional Piece
Expo Highlights Piece
Updated Affiliate List
Reprint from PPC Online
Reprint from PPC Online
Reprint from PPC Online
Confirmed
Confirmed
Confirmed
Requested of Lorenzo Gunn
Requested of Cayce Newman
Requested of Kristie Elias
Millers
WHCC
H&H
PPA
Bay Photo
Confirmed this Issue
Confirmed this Issue
Confirmed this Issue
In negotiations
TBD
Paid
Paid
Paid
Trade
In process
Peggy Roosa
[email protected]
Scholarship Committee Report – Marcy Dugan
Notices have gone out to all Presidents about the Affiliate Gift Certificates for West Coast School. The
cost of theses certificates will be $350 each. There are only 6 available at the October board meeting being
held in Tahoe. Those wishing to purchase a gift certificate need to bring payment with them at that time.
These certificates will not be available at any other time.
I have asked to have the Scholarship Application activated on the web page. We are now accepting
applications for 2016 PPC WCS Scholarships. There will be 10 scholarships available. The deadline to
submit your application is November 15, 2015. Any questions please contact Marcy Dugan 310-322-2917.
This will be my last year to be the Scholarship Committee Chairman. Lorenzo feels that it is a conflict of
interest for me to be on the WCS board and do scholarships.
Marcy Dugan
[email protected]
Silent Auction Report - Marcy Dugan
No report given
Marcy Dugan
[email protected]
Webmaster report – Cayce Newman
No report given.
Cayce Newman
[email protected]
West Coast School - Lorenzo Gunn
MARKETING
Learn from the Best: Professional Photographers of California’s West Coast School June 12-17, 2016.
Professional Photographer’s of California’s West Coast School prides itself in its top quality, hands-on
educational and motivational workshops by industry leaders. Since its inception in 1956, WCS has grown
into one of the top professional photography schools in the nation.
And even better, it’s on the University of San Diego campus, giving participants a week-long, fun-filled
opportunity to go back to college life: living in dorms and learning in classrooms. What a perfect
opportunity to not only receive the gift of a stellar learning experience, but cement friendships with fellow
professional photographers that will last a lifetime.
This year, West Coast School’s renowned instructors are offering an amazing array of classes focused on
sharpening your photography skills, mastering your editing abilities, and increasing your business acumen.
•
•
•
•
Ken Sklute
Kristi Sutton Elias
Michael Collins
Rick Ferro
•
•
•
Tim Meyer
Marilyn Sholiin
Frank Peele
“Creating Remarkable Landscape Imagery”
“The Fine Art of Portraiture”
“Photoshop from Zero to Sixty”
“Kick Start Your New Photography Career—
Become a Shooting Star”
“Beyond the Expected Studio Lighting”
“Beginner Coral Painter & Beyond”
“Up Close and Beautiful: Macro Photography in a New Light”
Bay Photo, ACI and Burrell Imaging will run e-mail blast promoting all classes.
We continue our e-mail blast and Facebook postings on individual instructors. Along with Instructors
using their social Media efforts in promoting their class. Some Instructors will receive post cards to
promote their class because they will be on a speaking tour.
We will use more Social Media to promote WCS instead of direct mail because of the coast savings. This
will include using the PPA membership email list that we will purchase. In addition our two sided
brochures will hand delivered to camera stores and colleges from San Diego - Sacramento. We continue to
get help from PPC Affiliates with the passing out of our brochure and giving WCS a plug. In a number of
cases the Affiliate has a WCS hot link on their website.
WCS WEBSITE
We will request a video from each instructor that will be add to the website.
YELLOW JACKETS
There will be a number of changes made to the Yellow Jacket program.
The new WCS Committee is in place and will be covered at the October meeting.
Lorenzo Gunn – WCS Director
[email protected]
Exhibit B – Treasurer Report
INCOME STATEMENT 1/1/15 – 9/30/15
DEPARTMENT
ADMINISTRATION
CONTINUING EDUCATION:
CAMP CERTIFICATION
JUDGING ACADEMY
CALIFORNIA SUNDAY
MEMBERSHIP
*PASADENA CONFERENCE 2015 (FISCAL
YEAR)…Includes Join and Gos” of $2,665.00
*PASADENA CONFERENCE (ACTUAL) including
income and expenses occurring in 2014 and 2015 =
($51,973.39)
INSTALLATION BANQUET
**PRINT COMPETITION 2015 (FISCAL YEAR)
**Print competition 2015 ACTUAL including income &
expenses occurring in 2014 & 2015 = $2,549.34.
AWARDS
DEGREE (Includes new medals for California Masters)
PPC STORE
WEB-SITE
TRAVEL AGENCY
ROAD SHOW
PRO PHOTO WEST MAGAZINE
SUPERSUNDAY WWII SHOOT
***WEST COAST SCHOOL 2015 (FISCAL)
***West Coast School 2015 ACTUAL (includes income &
expenses occurring in 2014 & 2015) = $17,462.59
****SCHOLARSHIPS
****NCPP Donation = $1,059.97
Auction @ Conference = $4,575.00
Auction @ West Coast School = $2,655.00
Interest = $3.44
Less Scholarships awarded ($7,980.00)
WEST COAST SCHOOL 2016
CONFERENCE 2016
NET PROFIT (LOSS)
$(42,103.48)
0.00
281.00
305.00
21,155.77
(46,582.34)
$136.22
$2,219.29
(1,025.99)
(1,029.52)
751.34
(391.82)
30.77
120.54
(1,744.00)
2,980.10
(12,219.92)
313.41
7,895.60
(5,000.00)
TOTAL INCOME
(TOTAL EXPENSE)
NET INCOME (LOSS)
$163,418.21
(237,326.24)
($73,908.03)
BALANCE SHEET @ SEPTEMBER 30, 2015
CASH ACCOUNTS (Unrestricted Funds) Balance @ 9/30/15
Wells Fargo Deposit Account
Wells Fargo Checking Account
Wells Fargo Savings Account
Wells Fargo Savings (Reserve) Account
Paypal
Square
Petty Cash
TOTAL UNRESTRICTED FUNDS
$5,976.41
(4,911.64)
5,000.44
37,674.33
6,025.23
0.00
197.50
$49,962.27
CASH ACCOUNTS (Restricted Funds)
WF Sue Hudson Savings
WF Mauracher Savings
WF Romaine/Lozano & Other
TOTAL RESTRICTED FUNDS
TOTAL CASH
$563.34
4,124.28
10,127.36
$14,814.98
$64,777.25
OTHER ASSETS
Fixed Assets (Furniture & Equipment net of
accumulated depreciation)
TOTAL ASSETS
$1,706.48
$66,483.73
LIABILITIES
Wells Fargo Credit Card
Payroll Liabilities
Sales Tax Payable
TOTAL LIABILITIES
$663.82
626.59
0.00
$1,290.41
EQUITY
Unrestricted Net Assets
Restricted Net Assets
Net Income
$124,286.37
14,814.98
(73,908.03)
TOTAL EQUITY
$65,193.32
TOTAL LIABILITIES AND EQUITY
$66,483.73
Exhibit C – 2016 Budget Report