Team Financial Health Analysis

Owned by Yuchen Lin
Last updated: Jul 18, 2024
2 min read

Conclusion:

In the short term, our team’s financial health will be good. As we are now reconstructing a business team, ​@Maya Wei (business lead) will be able to ensure that the Financial status will also be healthy in the future. In the long term, our team will resume sourcing new funding from WEEF and Engsoc and seek sponsorship.

 

Short term:

image-20240710-144339.png
Figure 1.0 Team Funding Remaining will expire in F24

Short term Funding plans:

As the technical report outlines, our team has set solid short-term and long-term objectives. The purchase plan using these funds is listed below and aligned with what is described in the technical report.

Mechanical:

  • Purchase new motor for arm(Arm design validation) [$1500]

  • Purchase general stuff(screw, nuts, Allen keys) [$200]

Electrical:

  • Purchase general stuff(connector, wires, soldering equipment) [$200]

Firmware:

  • Purchase new backup radio [$500]

  • Purchase new motor driver(Arm design Validation) [$200]

Software:

  • Purchase camera for object detection and avoidance (Autonomy) [$500]

  • Purchase encoder for accurate feedback loop [$200]


Long term

 

image-20240710-151433.png
Figure 2.0 The funding will last at least until the completion of URC 2025

Long term Funding plans:

The long-term funding will support our team in preparing the system for URC 2025 after the system validation has proven the effectiveness of our rover design.

Mech:

  • Cover the cost that occurred during Manufacturing [$4000]

  • Motors (Arms, Gimbals, Drivetrain improvement) [$1000]

Electrical:

  • Power distribution board Rev 5.2 manufacturing [$500]

  • Localization Board Proof of concept board [$1000]

  • Power Module on Rover [$100]

Software:

  • Sensor ↔︎ Autonomy system integration [$1000]

General:

  • Bay and Workspace Improvement [$1300]

Summary:

The remaining funding can cover the team for the current competition cycle, URC2025.

 

Future planning:

Starting next term, the business team will talk to another subteam to understand the system's needs and source proper funding from the WEEF funding proposal, the EngSoc funding proposal, and sponsorship(this section will be discussed in the sponsorship document).

Our team has a proposal template, both the script and the PowerPoint.

 

WEEF funding and EngSoc funding focus:

  • Support the team to accomplish the objective defined by later year competition requirement

  • Purchase a product that fosters the new member’s understanding of the system and has a low repair cost.

  • Setup Termly social to better engage new members

  • Improve the bay working area

Sponsorship request focus:

  • Obtain sponsorship for high-value product use

  • Develop a positive relationship with the company to obtain new knowledge