December 2008-Year end financials

Discussion in 'Club Financials & Minutes' started by seminolecpa, Dec 18, 2008.

  1. seminolecpa

    seminolecpa Past President

    Attached are the financials through today (essentially encompassing the full year). The P&L for the year shows a net profit of about $2,900. Profit is primarily due to 3 major factors aside from typical conservatism used in forcasting raffle revenue.

    1) revenue from BAYMAC received late in the year and not included in the budget
    2) speaker fees lower then budgeted
    3) breakeven on the Regional swap


    The plan for the current year surplus is to use $1,000 to add corals and cover overhead for the members only swap and retain the balance for a safety margin in case we will need to pay for meeting space in 2009. The current budget does not account for any additional expenses for meeting space. Thus, at this point due to the reserves we plan to keep the 2009 dues flat from 2008.

    Happy reading
     
  2. GreshamH

    GreshamH Guest

    Scuze my ignorance on this, but are you saying the dues aren't going up?
     
  3. seminolecpa

    seminolecpa Past President

    Corrrect. Sorry, sometimes I forget everyone doesn't speak in accountant speak. Flat= no change.
     
  4. GreshamH

    GreshamH Guest

    Accountoneeze :D

    But not as bad a lawyereeze :lol:
     
  5. patchin

    patchin Facilities / Event Coordinator

    Thanks Bryan
     
  6. seminolecpa

    seminolecpa Past President

    You would have loved my last tax conference then, hosted by the Practicing Law Institute. 200 tax attorneys and about 20 accountants.

    Man could those guys party
     
  7. zambavi

    zambavi Guest

    That's some exciting stuff right there....
     
  8. seminolecpa

    seminolecpa Past President

    Welcome to my world.
     
  9. 70Cuda

    70Cuda Guest

    accountanfastic :D
     
  10. GreshamH

    GreshamH Guest

    [quote author=seminolecpa link=topic=5619.msg70504#msg70504 date=1229649344]
    You would have loved my last tax conference then, hosted by the Practicing Law Institute. 200 tax attorneys and about 20 accountants.

    Man could those guys party
    [/quote]

    I'm game....I know how those (most) conferences work :D
     
  11. seminolecpa

    seminolecpa Past President

    Financials updated for open items. Attached are the final financials for 2008.
     

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