Paragraph 5.6 of the Club Constitution requires an annual financial report: “present a written, detailed and complete annual financial statement of all Club activities for the prior calendar year no later than the March meeting.” This report fulfills that requirement.
Bank Balances
|
|
January 1
|
December 31
|
Change
|
|
Checking
|
$ 7692.99
|
$ 7277.90
|
-$ 415.09
|
|
CD
|
$ 21667.99
|
$ 22190.80
|
$ 522.81
|
|
Total
|
$ 29360.98
|
$ 29468.70
|
$ 107.72
|
2023 Income versus Expenses - Does Not Include Interest on CD
|
INCOME
|
|
|
HCC Member Dues
|
$2,750.00
|
|
TOTAL INCOME
|
$2,750.00
|
|
|
|
EXPENSES
|
|
|
Web Site Fees
|
$703.13
|
|
HCC Event Expense
|
$668.77
|
|
Insurance
|
$590.00
|
|
Misc.
|
$295.53
|
|
Software
|
$231.76
|
|
Office - Postage - PO Box
|
$210.00
|
|
HCC Speaker Gift
|
$181.92
|
|
Credit Card Processing Fees
|
$102.66
|
|
Donations and Contributions
|
$100.00
|
|
HCC Speaker Dinner
|
$76.32
|
|
Corporate Filings
|
$5.00
|
|
TOTAL EXPENSES
|
$3,165.09
|
|
|
|
OVERALL TOTAL
|
-$415.09
|
Year to Year Comparison
|
Category
|
2021
|
2022
|
2023
|
|
INCOME
|
|
|
|
|
HCC Member Dues
|
$ 3,000.00
|
$ 3,025.00
|
$ 2,750.00
|
|
Other Inc
|
$ -
|
$ 895.00
|
$ -
|
|
TOTAL INCOME
|
$ 3,000.00
|
$ 3,920.00
|
$ 2,750.00
|
|
|
|
|
|
EXPENSES
|
|
|
|
|
Corporate Filings
|
$ -
|
$ 5.00
|
$ 5.00
|
|
Credit Card Processing Fees
|
$ 111.57
|
$ 110.76
|
$ 102.66
|
|
Donations and Contributions
|
$ 100.00
|
$ 100.00
|
$ 100.00
|
|
HCC Event Expense
|
$ 185.07
|
$ 586.02
|
$ 668.77
|
|
HCC Meeting Expense - Hardware
|
$ 1,442.92
|
$ 45.77
|
$ -
|
|
HCC Speaker Dinner
|
$ -
|
$ -
|
$ 76.32
|
|
HCC Speaker Gift
|
$ 138.70
|
$ 126.20
|
$ 181.92
|
|
Insurance
|
$ 175.00
|
$ 95.95
|
$ 590.00
|
|
Misc.
|
$ -
|
$ -
|
$ 295.53
|
|
Office - Postage - PO Box
|
$ 277.28
|
$ 236.00
|
$ 210.00
|
|
One Hundred Miler Awards
|
$ 193.90
|
$ -
|
$ -
|
|
Software
|
$ 234.36
|
$ 634.21
|
$ 231.76
|
|
tee shirt sales
|
$ -
|
$ 937.78
|
$ -
|
|
Web Site Fees
|
$ 637.84
|
$ 575.18
|
$ 703.13
|
|
TOTAL EXPENSES
|
$ 3,496.64
|
$ 3,452.87
|
$ 3,165.09
|
|
|
|
|
|
OVERALL TOTAL
|
$ -496.64
|
$467.13
|
$ -415.09
|
Commentary and Observations
The club’s largest on-going expense is maintenance of our website closely followed by spending on club events and insurance.
Expenses exceeded income from membership dues in 2023. Three main factors contributed to this; decreased dues income as the post pandemic blip in new memberships receded, increased event expenses including the Lake Charlotte Challenge and significant increase in insurance costs.
The club remains financially sound. We hold more than two years expenses in our checking account as we begin the year.