[Rotary] Rotary Board Meeting Financial Decision

[jkk at mcn.org]

Excellent analysis Harold, Thank you.

At the meeting we talked some type of fundraiser before June 30, 2019.  If
that happens, I suggest any monies earned be added to committee spending
for our 2018/19 year.

    Jerry

> 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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