P2: Financial Plan 2024 - 2025

Note: This is the written financial plan for the budgets of 2024 and 2025. They
run from:

1. Summary

FYEG’s financial plan for 2024 has mainly evolved in two ways, since last
approval in the 2023 General Assembly : (1) more personnel costs due to the
newly adopted salary grid, inflation, and replacement of two Office staff, (2)
more costs related to the EU24 campaign. As already detailed in the 2023
financial report, most of the costs related to the campaign were initially
foreseen to happen in 2023 but were actually spent in the beginning of 2024.

FYEG’s financial plans for 2024 and 2025 are presented below. In order to
increase the accessibility of the information the 2024 budget plan is first
presented through a simplified version with a few important comments and then
through a detailed version with both a narrative breakdown and the full budget
plan in Annex. This financial plan also includes a section on gender budgeting.
The 2025 budget plan annotated is presented in Annex.

2. 2024 Budget plan

a. Simplified version

Below you will find a simplified version of FYEG 2024 budget plan annotated to
briefly explain the difference between the provisional budget voted by the
General Assembly in 2023 and the updated budget.

(see table in the PDF version uploaded on www.fyeg.org/ga24 )

Explanation of the difference between the budget voted and the budget report:

- 1. In 2024 we expect inflation, as we have had in 2023, but also two handover
periods as two of the office staff are expected to be replaced.

- 2. Administrative expenditures will be higher because the statutes still need
to be notarised and because we expect higher bank fees (partly due to the new
ING fee for the “Know Your Customer” program that we already had in 2023).

- 3. This General Assembly is more expensive than expected.

- 4. More expenses for the EU24 Campaign.

- 5. Administrative revenues are increasing thanks to the Maribel fund.

3. Detailed version

Annexed to this plan you will find a table with the detailed budget plan for
2024. The difference between the budget voted at the GA 2023 and the updated
budget plan is briefly explained in the ‘Comment’ column, only when it diverges
by more than 10% and more than 500€. Below is the detailed narrative version.

Expenditures - Category 1: Personnel costs

This budget category includes all the personnel costs for FYEG: salaries,
benefits, social security and other employment tax contributions, payroll
service fee, worker’s insurance, etc.

The total personnel costs for 2024 will see a significant increase. This is
because, (1) based on 2023 inflation, we expect a significant inflation rate in
2024 too, (2) a new position (Network and Membership Officer) was created and
the new hire will start in September with a month overlap with the outgoing
Community Manager for a smooth handover, (3) it takes into account an estimated
amount of paid overtime, (4) a new salary grid was approved in 2023 and new
salaries were implemented in January 2024, (5) the Communication and Campaign
Manager also intends to leave and we will have ideally a handover period with
their replacement.

Expenditures - Category 2: Infrastructure and operating costs

This budget category includes all office-related expenses: rent, office meetings
and retreats, staff training, softwares and equipment, office supplies, postal
charges and utilities, etc.

The total infrastructure and operating costs for 2024 will very slightly
decrease, mainly because of expectations for the training costs for staff and
the lesser costs of mobile phones.

Expenditures - Category 3: Administrative expenditure

This budget category includes all FYEG’s general administrative expenses:
extraordinary administrative costs (such as work-permit costs, costs related to
the internships, etc.), external accountant, official registration of newly
elected Executive Committee members, bank account fees and insurances.

These costs increased because we still need to get the statutes notarised and
because of the bank fees. In 2023 we were surprised by a 500€ fee from ING for
the “Know Your Customer” (KYC) program. They told us that this fee will occur
every year from now on. This might lead us to scouting other banks to check if
they all have this huge fee and maybe switching banks.

The “bank fee” budget line also increased in 2024 because we did some
fundraising and platforms (Lunda and Stripe) took a small fee on every donation
we received. Those fees are accounted for in this budget line but are linked to
an income.

Expenditures - Category 4: Meeting and representation costs

This budget category includes all expenses related to the meetings of FYEG’s
network and bodies, as well as representation in partners meetings: Executive
Committee meetings and allowances, the General Assembly, Member Organisations
training, Young Greens Forum, FCAC meeting, membership fee to EYF, contribution
to CDN, visits to Member Organisations and representation to meeting of the
European Green Party, the Greens/EFA Group in the European Parliament and other
partners.

This category increases because the 2024 General Assembly is more expensive than
expected.

We also aim at decreasing the costs of the Executive Committee’s meeting, given
that there will be only 3 and not 4 this year due to the date of the General
Assembly.

Expenditures - Category 5: Direct Costs: projects and campaigns

This budget category includes all expenses related to projects and campaigns:
the Annual EYF work plan, the Spring Conference organised together with the
General Assembly, the activities organised around COP, Study Session organised
with the Council of Europe’s Youth Department, Campaigns, Ad Hoc projects and
working group projects.

The total direct costs for projects and campaigns in 2023 will increase a
little, mainly because we had costs in 2024 for the Young Candidate Platform
(included in the budget line 5.1.1 EYF Work Plan, even though it’s not actually
funded by EYF) and because, as already explained, the majority of the expenses
related to EU24 finally were made in the beginning of 2024.

FYEG and EGP will jointly organize a one-day event during the Summer Conference
to explore the concept of EU enlargement from both international and pan-
European perspectives and to establish common priorities for the upcoming
parliamentary mandate, particularly concerning youth issues and European
integration. This event will be attended by Young Greens from strategic
countries and will also be open to the attendees of our General Assembly,
maximising its impact and allowing the network between the two groups.

The budget line “5.4.1 Ad hoc Projects” is higher in 2024 than the other years
because, given that there were campaigns and elections this year, more ad-hoc
events were realistically going to happen. Until now, some of it was reallocated
to the campaign team meetings and to the young candidate platform as well as the
LevelUp delegation. This budget will also be used for the strategy consultancy
(planning the objectives for 2025-2030) and the mediation needed by Executive
Committee members.

Expenditures - Category 6: Allocations to the next year and reserves

This budget category includes allocations and reserves for the next few years.

We are not going to allocate money to funds or reserves this year, as was
planned.

Revenues - Category 1: Administrative Income

This budget category includes all of FYEG’s administrative grants and revenues.
The total of this category for 2024 is slightly higher than previously planned,
mainly because we are getting a little bit more money from the Maribel Fund
(part of our Project Officer’ salary is now also on it).

Revenues - Category 2: Projects & Campaigns income

This budget category includes all of FYEG’s projects grants and revenues as well
as the funds available for cooperation with the Greens/EFA Group in the European
Parliament.

The total of this category for 2024 will probably be a bit less than the budget
plan adopted at the 2023 GA. Mainly because we won’t be able to collaborate with
GEF this year.

We also increased a little the total amount planned through cooperation with the
Greens/EFA group because we secured the first-half (approximately 35k) and we
are foreseeing to maintain at least 15k contribution for the second half of the
year (in the previous mandate we were getting 22.5 per term – this is therefore
a relatively conservative projection while we prepare for the negotiations). .

3. Gender budgeting

As a feminist organisation, FYEG believes it is important to realise its budget
from a Gender perspective. Through its quota systems and attention to balanced
representation within all its bodies FYEG already has the essentials in place
for gender budgeting. For 2024 FYEG will also continue to plan its activities
and work through the gender budgeting lens by implementing the following
measures:

4. 2025 Budget Plan

Annexed, find the detailed budget plan for 2025.

In 2025, FYEG will experience the two following major changes affecting the
budget, mostly structural and activities changes linked to the reduced financial
capacities of our partners linked to the EU 2024 elections results. The EGP will
have to downsize its staff and also the activities they organise, including
those addressed to young people in its Member Parties. FYEG decided to implement
some structural changes to ensure that the opportunities previously provided by
EGP will still be partly available to like-minded young Europeans in our network
and beyond. Therefore:

With this, we expect a loss of around 25k EUR. This is planned to be a one-time
exception that does not have a substantial impact on FYEG’s accounts overall due
to the consistent investment on our financial stability and diversified funding.
Special extra efforts will be invested in the next mandate to get more funding
to be able to maintain the current offer of opportunities to our membership
base.

5. FCAC recommendations

In the financial plan, the treasurer elaborates on the FCAC recommendations of
the previous year (in this case FCAC 2022-23) that are planned to be
implemented. This is in line with the Financial Plan 2023 adopted by the General
Assembly 2024.

Recommendation 1: Develop a Liquidity Plan

It was recommended to create a liquidity plan to ensure timely payments and
prevent cash shortages, especially given the annual funding cycle with European
grants.

In close coordination with the FCAC 2023-24, a formal liquidity plan was not
implemented. Instead we will use a simple indicator, an Account Coverage
Indicator for ensuring account coverage. The Account Coverage Indicator shall be
developed in cooperation with the FCAC 2024-25.