Apr 09 financials

Discussion in 'Club Financials & Minutes' started by seminolecpa, Apr 23, 2009.

  1. seminolecpa

    seminolecpa Past President

    Sorry for the delay in getting these out. I wasn't at the meeting so I had to arrange getting th cash box and receipts.

    Summary notes:

    -We are at 185 members (which includes both the BOD members as well as splitting up 11 family memberships)
    -33 new members signed up since February 17th equating to some of the NCNRS members coming on board and/or floating a "donation" our way out of appreciation
    -One part of the insurance has been paid for the year.
    -BACFM sales as well as supply sales (glue, frag plugs etc.) are revenue neutral ,that is we sell them for generally what we pay for them, so you will see only a change to the balance sheet (cash and inventory or payable related respectively) and only a very marginal income statement hit.
    -Web hosting fees are a little higher this period as there were non reflected in the February financials due to receipt timing and changeovers. We have a bit of surplus (prepaid) that will carry over into the next period.
    -Though the cash balance is increasing we have several planned expenses that will reduce it including
    • D&O Insurance
    • Replenishment of Glue inventory
      DBTC Info Cards
      future speaker fees

    The plan is to keep approx $5,000 or 1 year of estimated operating expenses in reserve at the end of each year, though we are definately operating currently at a surplus due to increased membership and good raffle sales. I have posted the income statement for the period (2/19/09 to date) as well as YTD so you can see the specifics of the income statement from the last set of financials. Starting in 2010 I will show a comparitive income statement that compares current period with PY at the same period, but at this point (as there was some shuffling of the membership fee process in 2008) it would be fruitless to do so as they wouldn't really provide a clear picture.

    As always please feel free to post questions or comments.

    Attached files April 2009 Financials.pdf (33.2 KB)
  2. badbread

    badbread Guest

    What's D & O insurance?
  3. seminolecpa

    seminolecpa Past President

    Sorry Directors and Officer insurance. Also know as the please don't take my house and everything I own if someone cuts their finger off policy.
  4. Roc

    Roc Guest

    we are NCRC members now, NCNRS is a dead club with zero members
  5. seminolecpa

    seminolecpa Past President

    Though I realize that there is a new club formed with a new name, my reference was to an even in the past at which point it was still NCNRS.

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