OMG!! Printer Costs in the Office

Best laid plans don’t always equate to responsible spending. This board is taking our fiduciary responsibility seriously. We are working diligently to review all of the financials, the contracts and the assets to determine our best course of action. We are also taking into consideration the history and reasoning of prior board decisions. One of our recent projects that I started last year while I was Treasurer is the investigation into printing costs for flyers and notices, not including the newsletter (this is free to us). George discovered that we have been paying a monthly rental fee, PLUS an annual service fee. What I discovered this morning is that FOSM has had the printer lease agreement, for the same outdated printer, since September 2012. This equates to FOSM spending over $15,000 since 2012 just to have that old printer sitting on the desk in the office.

Cancelling the contract and trying to return the printer has been a nightmare at the very least. But we are almost there. The board also opted to buy a new business printer with higher print capacity, faster print speeds, printing in color, and the ability to access functions wirelessly. This high capacity printer will save FOSM at least $13,000 over the next ten years, as opposed to continuing the old lease contract.