August 09 Financials

Discussion in 'Club Financials & Minutes' started by seminolecpa, Aug 16, 2009.

  1. seminolecpa

    seminolecpa Past President

    Summary.

    We lost about $550 on the swap including the gift cards purchased from the sponsors, however, our raffle revenue was about 350 higher then last years regional swap.

    Still under budget for the year due to increased memberships, good raffle sales and lower speaker fees.



    Attached files August 2009 Financials.pdf (22.9 KB)
     
  2. patchin

    patchin Facilities / Event Coordinator

    Wow! That was quick. Eventhough we lost money, it was good that we helped out our LFS sponsors. Worth it IMO.
     
  3. sfsuphysics

    sfsuphysics Supporting Member

    I dunno, looking at the numbers between June and August we netted almost $2k, where did the money come from if not from the swap?
     
  4. seminolecpa

    seminolecpa Past President

    Not sure what you are looking at Mike. Net income for this period was $1246 coming from the raffle sales and new memberships.

    Also when I speak of losing money on the swap I don't refer to the raffle proceeds. Morseo I am meaning ticket sales less expenses (paypal fees, printing, costs to make standards, and gift cards).
     
  5. sfsuphysics

    sfsuphysics Supporting Member

    Ahh ok, gotcha.
     
  6. cwolfus

    cwolfus Past President

    Which were $1455.
     
  7. cwolfus

    cwolfus Past President

    Hey B,

    I see swap income (costs - ticket fees) is -$298.36. Where is the other $250 loss?
     
  8. seminolecpa

    seminolecpa Past President

    Are you referring to the $8.66 loss?

    That number is a little arbitrary as it is based on used inventory of glue. Typically we should expect to see that number close to zero but net positive during the year as we typically round the unit cost up to the nearest dollar for administrative purposes. Depending on when we do the rough inventory it could be negative on a period by period basis but, again, should still be positive for the year.

    I think there are still some outstanding expenses that will trickle in for the swap as well as some web hosting fees (which I have yet to see a receipt for).
     

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