Year End Financial Reports for BAR Members

Discussion in 'Club Financials & Minutes' started by jimsar, Feb 16, 2006.

  1. jimsar

    jimsar Guest

    Attached are BAR's balance sheet and revenue & expense report as of December 31, 2005. Month-by-month reports are available upon request.
    JimSar, BAR Treasurer
  2. racrumrine

    racrumrine Guest

    What, no Statement of Cash Flows? Just kidding.

    It's nice to see everything in ship shape condition.

    I didn't notice an insurance line. Given what goes on with the Swaps, I hope the Club has a liability policy. Of course, it can't get coverage for accidental RTN. However, one of the Names at Lloyds might be willing to handle it. For a fee...of course.

    Best of luck,

  3. GreshamH

    GreshamH Guest

    Yes, we have insurace to cover us, this has been posted numerous times in many threads. Dunno why it's not on the above statements.
  4. jimsar

    jimsar Guest

    It was paid before I took over in August, but I didn't see it in the paperwork that was turned over to me. And frankly, I totally forgot it and never asked my predecessors. Growing pains.

    Things like that won't happen in the future, because the accounting is now done in Quickbooks, and the file is backed up every time there is an update, and a copy is emailed to the club Prez for redunduncy. I've also instituted control procedures i.e., cash and check vouchers for all disbursements, and an approval process. Also transparency, hence the posting of the financials for all members to see.

    Again, I have to emphasize "growing pains". Those who were with us from the very start know that it was a painful transition from BARE. I have to give credit to Anthony, Jim (bookfish) and all who "guarded" the club's cash box without the benefit of a formal accounting system.

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