[Inpycon] Budget and sponsorship.

[Dhananjay Nene]

On Sun, May 20, 2012 at 6:45 AM, Anand Chitipothu <anandology at gmail.com>wrote:

>  As I start collating all this into a doc, this starts being a slightly
> dicey
> > one.
> >
> > a) The exact amount is variable - which could be a slight issue for
> someone
> > willing to commit
> > b) Some of the issues I suspect are due to the fact that remittance
> could be
> > in foreign exchange and part of the expenditure (eg. ticket but not the
> > hotel) are in foreign exchange.
>
> We can ask the sponsor to book the hotel via Cleartrip or some other
> website. That way we don't have to worry about foreign exchange.
>
> Precisely my thought


> > c)  If the amount is not the same as standard slabs it becomes a little
> hard
> > for us to figure out exactly what to offer for this - is this a new slab?
> > How does one slot it between existing slabs etc.
> >
> > I instead propose that we allow any Gold or Platinum sponsor the
> following
> > treatment :
> >
> > a) Also announce amount in $ slabs. ie. work out what a Gold or Platinum
> > slab will cost in USD terms.
> > b) Allow the sponsor to elect to pay for the speaker expenses. It should
> be
> > fine if the speaker expenses include local stay and allowances as well in
> > that amount so long as the speaker gets it directly from the sponsor and
> > uses it for the local expenses. We should still grant the sponsor the
> > equivalent treatment of the gold / platinum sponsor so long as they treat
> > the remainder of the amount as a contribution towards Pycon India
> > sponsorship. (ie. the exact sponsorship amount remitted to IPSS will be
> the
> > difference between the slab and the speaker expenses directly reimbursed,
> > though the sponsor will get the full benefits of the slab he chooses).
> > c) My only slight reservation is that the speaker expenses could end up
> > being > 1.5 lakhs if the rupee continues to depreciate further. So it
> might
> > make sense to have the sponsorship $ amounts as being $3500 (instead of
> > $2800 as per current exchange rate). One may want to consider raising the
> > local sponsorship gold slab to 1.75 lakhs instead of the 1.5 lakhs and
> treat
> > the equivalent foreign currency amount as USD 3500. Thats what I would
> > recommend.
> >
> > In light of this suggestion, the sponsorship amounts will be
> >
> > Platiinum : 3,00,000 INR  or 6,000 USD for foreign sponsors
> > Gold : 1,75,000 INR or 3,500 USD for foreign sponsors
> > Silver: 1,00,000 INR or 2,000 USD for foreign sponsors
>
> I'm not sure if we can accept remittence in USD. So suggesting a USD
> equivalent and not being able to accept USD when a foreign sponsor is
> ready won't be a good situation.
>
> That is not correct. We can accept remittances. Its tax treatment is
different and the amount of paperwork needed to get/pass on tax breaks is
just huge. Its really a taxation issue and assumiing one doesn't do all the
paperwork (which is really onerous), the taxation impact could be large
(Sree to clarify if I misstated anything).  I suspect if we just go ahead
and pay say a 33% tax on the incoming forex w/o doing the paperwork, its
still a reasonable amount of money rather than not accepting it all. (AFAIK
Indian currency sponsorships - we don't get taxed and the sponsors get a
tax break on the amount).


> So we first need to find out what are the expenses that can be paid
> directly by foreign sponsors. Travel and hotel is one of them.
>
> If it is not possible to accept USD and if there are no other expenses
> that can be paid directly in USD, there is no point specifying USD
> equivalents. We can just create a new slab Travel Sponsorship.
>
> Also, it may not be necessary to strictly match the local and foreign
> sponsorship amounts. I don't see an issue with have Rs. 1.5L and $3500
> as the amount for gold slab.
>
I generally think foreign currency conversion rates should be fair at least
at the point in time they are applied (future fluctuations
notwithstanding). At 1.5L & $3500 they aren't imo. For a bulk of the past
year these have been hovering around 1USD = 50 INR. The above conversion
treats 1USD = 42 INR and  the current rates are 1USD = 54INR)

>
> I think 3L for platinum might be too high. What Sreekanth suggest
> sounds reasonable to me. May be we can push it a bit higher and
> roundoff.
>
> Silver: Rs. 75,000/- ($2000)
> Gold: Rs. 1,50,000/- ($3500)
> Platinum: Rs. 2,50,000/- ($5000)
>
More thoughts on the amounts? I still believe 3/1.75/1 is a good set of
slabs to have.

>
> Anand
>



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