[Rotary] Rotary Board Meeting Financial Decision

[Harold Hauck]

At today's Rotary Board Meeting it was suggested that I update all club
members about the  financial ramifications of the decision to cancel the
Casino Night fund raising event.

*         The current balance in the Activities Checking and Savings
Accounts is:

o   Checking $8,271

o   Savings $11,740

o   Total Combined Activities Accounts $20,011

*         The Board adopted a budget at the beginning of the Rotary Year in
July that provided for a total of $9,650 net income from the combined Golf
Tournament and Casino Night fund raising events. We raised $6,323 net
revenue from the Golf Tournament. Without Casino Night revenue we will be
$3,327 short of our fundraising goal.

*         On the expense side of the Activities Budget we planned to spend
the following:

o   Community Service Committee - Budget $6,850, Spent YTD $1,620

o   Youth Service Committee - Budget $6,350, Spent YTD $3,883

o   International Service Committee - Budget $7,000, Spent YTD $155

o   Combined Service Committee expense budget $20,200.

While this budget was perhaps overly optimistic initially, it is totally
unattainable without additional fundraising success. While the board is
trying to develop new fundraising opportunities, a decision was made today
to reduce future spending by the three service committees to no more than
$8,000. 

 

The board is requesting that each of the service committees meet during the
next month and create a reduced spending plan for the rest of this Rotary
Year. The board will hear these plans and allocate the $8,000 as a revised
budget for the committees at the February Board Meeting.

 

Please let me know if you have any questions or suggestions.

Harold

 

 

 

 

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