Highlights:
1. The last report was as of
June 30, 2011 and included an update thru August 12, 2011
2. Normally, this report
would be thru 9/30/2011; since it is November and the books are updated thru
10/31/2011, the reports include the current fiscal year thru October 31 which
means they include all the revenue and expenses for the 2011 conferences
conducted in July.
3. Please review the
attached reports in the following order – same as the first three tabs in the
spreadsheet:
a. Balance Sheet as of
October 31, 2011
b. Statement of Activities
(Revenue and Expenses) for the four months ended October 31, 2011
c. Statement of Activities
by Class (conferences) for the four months ended October 31, 2011
4. Assets tot al $64,455 at
10/31/2011 of which $37,109 is in cash and $23,440 is in conference facility
deposits.
5. Liabilities are $34,479 and consist
of accounts payable of $8,154 and rotary club future scholarship payments of
$26,325. The accounts payable includes $6,400 in refunds requested by
clubs and paid 11/8/2011.
6. In the Equity section of
the Balance Sheet, Net Income shows a very
nice $12,993 compared to a Net Loss of almost the same amount for the FYE
6/30/2011…which is the 2010 conference. There are three reason for the
difference…and very excellent improvement:
a. Some timing differences
between the 6010 and 6011 conferences; do not know how much.
b. The current four months
is just that…four months compared to 12 months in the 6/30/2011 numbers.
These are slow months expense wise but will still be $6,000 or so between now
and 6/30/2012.
c. Most important is some
good cost control, particularly the RYLA conference facilities cost which was
down about $7,500 even with the 25th
7. The YRYLA conference essentially broke even
in 2011…as expected when fees went up to $400/conferee
8. The RYLA conference had excess revenues over
expenses of $17,294
9. Net Admin costs were $4,606.
10. The 25th
Reunion
was net expenses of about $1,550.
Other
Items:
1. The Federal Form 990 is
filed for the FYE 6/30/2011
2. The Directors’ Book first
draft is completed…thanks to Heather Amen
Best
Regards
Kevin
Farrell, Treasurer
Rocky
Mountain RYLA
303.699.7298;
cell 303.332.2934