Feb 10 Financials

Discussion in 'Club Financials & Minutes' started by seminolecpa, Feb 16, 2010.

  1. seminolecpa

    seminolecpa Past President

    Nov 7, 2005
    Likes Received:
    Attached are the finanicals for Jan and Feb. Now that I have good comparative data, I have switched the income statement so that you can see the change from prior year at the same time.

    Big changes from prior period:

    Raffle income- $2,300 We did a regional swap in Feb vs. a members swap. We had a very good turnout overall I believe 157 total paid including 137 prepaid and 20 day of. This equated to significantly larger raffle proceeds. For better comparison, 2009 regional swap drew in $1,455 in raffle revenue and had about 85 (estimated) paid participants.

    Swap income- Net $1,272.29 Again in 2009 we did not charge for the members swap and used club proceeds to purchase corals for both the swap and prop program. To better compare to the 2009 regional swap, we had a $425 loss. The primary reason for the large disparity between the 2 swaps really equated to the fact that we purchased materials to make standards which we still had left over for the current swap. If we look at gross income of the 2 it is $1,505 vs. $675 again equating to the large change in number of participants.

    Membership numbers are down slightly from this point last year but based on the economy that was somewhat expected as many people have left the hobby.

    All other numbers on the income statement are immaterial at this point and i am still missing a few receipts for regualr monthly expenditures (like web hosting costs).

    Glue sales tend for the most part to be a push each period and I usually do an inventory adjustment 2x per year.

    The first period tends to be our best month as we have yet to have a real meeting or incur any of the larger annual fees so take it with a grain of salt. Don't let the cash balance fool you we have lots of spending still to do yet this year including 3 speakers, some BAYMAC costs and insurance. That said, however, this was a very good swap not just club wise but financial wise and we are off to a great start.

    Special thanks goes out to Gomer, Mray2660, and SoulFish for being the suckers (er. I mean helpers) with the raffle sales at the swap.

    Attached files Jan-Feb 2010 Financials.pdf (47.5 KB)
  2. JAR

    JAR Supporting Member

    Jan 17, 2009
    Likes Received:
    Nice work!
    I hope the glue doesn't go bad! :bigsmile:

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