I.B.M. Ring 362 The Maine Mystics Bangor, Maine
Home Archive Constitution Bylaws Policy and Program Manual Index to Minutes Index to Executive Minutes Index to Ring Reports Hall of Ring Names		Treasurer's Reports 2007 (Please see also Treasurer's Reports 2006 and 2008.) The Treasurer's Reports for 2007, extracted from the Minutes and the Executive Minutes, are presented here. January 21, 2007. Treasurer Randy Von Smith reported that the Ring's bank account has a balance of $760. There is $100 and change in petty cash plus dues payments and raffle proceeds from the meeting in progress. The Ring's funds include two endowments: $40 to purchase a plaque listing the Ring's annual descriptive name, and $10 in the Dr. James William Elliott Card Challenge endowment. Randy has opened a second bank account containing $75 from the first account, and made a donation of $20 to buy checks for the new account. The reason for opening the second account is that the new bank does not charge a monthly service charge to non-profit organizations; up to ten checks/month may be written for free, with additional checks costing $0.10 each. He moved that the first bank account, with its $5 monthly service charge, be closed, and that the funds transferred be to the new account. The motion was seconded and passed unanimously. The Treasurer's report was approved without amendment.

February 4, 2007 (Board Meeting). Budget Committee Chair Randy Von Smith discussed an outline of the budget:

The budget for the Chung Ling Soo Stage Magic Competition will be set following the All-Star Magical Revue, and is not included here. There was a consensus that this should be a money-making show.

February 18, 2007. Treasurer Randy Von Smith reported that the Ring's old bank account (to be closed) has a balance of $755, the new bank account has a balance of $75, and that there is approximately $100 in petty cash. Recent activity includes income of $86 (raffles and a $20 endowment) and expenses of $102 (postage and Elliott postcards). The Ring funds include the following amounts in endowments: Elliott Endowment ($10), Ring Name Plaque Endowment ($40), Chung Ling Soo Endowment ($20), and Parlor Magic Endowment ($20).

March 18, 2007. The Secretary reported on behalf of the Treasurer that the Ring's bank account has a balance of $875 and that there is $248 in petty cash, for a total of $1123. Expenses expected in the near future are $35 for incorporation and $35 towards the purchase of a plaque to be presented to the Rumford Town Manager. The Ring funds include the following amounts in endowments: Elliott Endowment ($10), Ring Name Plaque Endowment ($40), Chung Ling Soo Endowment ($20), and Parlor Magic Endowment ($20).

April 7, 2007 (Board Meeting). Treasurer Randy Von Smith reported $10 in dues payments, $80 in raffle income from the banquet, and $82 in expenses from the banquet. This means that there is an $8 increase from the totals in the Treasurer's report from the March Ring meeting, hence the Ring's bank account has a balance of $875 and there is $256 in petty cash, for a total of $1131. The Ring funds include the following amounts in endowments: Elliott Endowment ($10), Ring Name Plaque Endowment ($40), Chung Ling Soo Endowment ($20), and Max Malini Endowment ($20).

Current Finances. Here is the budget from the February Executive meeting with year-to-date (YTD) numbers listed:

Financial Review. The Financial Review Committee (Carroll Chapman, Wes Booth, Chris Florey) has not contacted Randy, and apparently has taken no action.

April 29, 2007. The Secretary reported on behalf of the Treasurer that the Ring's bank account has a balance of $854.87 and that there is $248 in petty cash, for a total of $1102.87. Recent expenses include $61.70 for the Rumford plaque, with the Ring yet to receive $30.85 from Assembly 174. The Ring funds include the following amounts in endowments: Elliott Endowment ($10), Ring Name Plaque Endowment ($40), Chung Ling Soo Endowment ($20), and Max Malini Endowment ($20).

June 10, 2007. The Secretary reported on behalf of the Treasurer that the Ring's bank account has a balance of $772.87 and that there is $248 in petty cash, for a total of $1020.87. Patron and ad sales for the All-Star Magical Revue total $210 to date for a total in the treasury of $1230.87. The Ring funds include the following amounts in endowments: Elliott Endowment ($70), Ring Name Plaque Endowment ($40), Chung Ling Soo Endowment ($20), and Max Malini Endowment ($20).

July 15, 2007. Treasurer Randy Von Smith presented a Treasurer's Report summarizing the financial aspects of the All-Star Magical Revue. The projected expenses are from the Executive Meeting of April 7, 2007.

Income from the All-Star Magical Revue was projected using last year's number of $800. Actual income from the gate is expected to be about $700 (minimum). Ad sales were $430. This would give a total income of $1130 for a net of $392.

Current bank balances were not available. The Ring funds include the following amounts in endowments: Elliott Endowment ($70), Ring Name Plaque Endowment ($40), Chung Ling Soo Endowment ($20), and Max Malini Endowment ($20). Members voted to approve the Treasurer's Report.

August 12, 2007 (Board Meeting). The Ring bank account has a total of $1319.22, with $318.00 in petty cash for a total of $1637.22. The Ring funds include a total of $370.00 in endowments: Elliott Endowment ($110), Ring Name Plaque Endowment ($140), Chung Ling Soo Endowment ($60), and Max Malini Endowment ($60). The recent change in the endowments is a consequence of a donation by Randy Von Smith of $220 to the Ring, after being reimbursed for $220 for parts used to build the banner stands for the All-Star Magical Revue. The check from the Criterion Theatre and Arts Center for the All-Star Magical Revue was for $868.50.

A. Current Finances. Here is the budget from the April Executive meeting with year-to-date (YTD) as of August 1, 2007, numbers listed:

The Board voted to accept the Treasurer's report.

B. Financial Review. The Financial Review Committee (Carroll Chapman, Wes Booth, Chris Florey) has not contacted Randy, and apparently has taken no action.

August 12, 2007 (Ring Meeting). The Treasurer's Report submitted to the Board was presented at the Ring meeting. Members voted to approve the report.

September 16, 2007. Treasurer Randy Von Smith presented a Treasurer's Report. The Ring bank account has a total of $1417.33, with $318.00 in petty cash for a total of $1735.33. The Ring funds include a total of $387.17 in endowments: Ring Name Plaque Endowment ($140), Elliott Endowment ($110), Chung Ling Soo Endowment ($67.17), Max Malini Endowment ($60), and Lecture Endowment ($10). Recent activity includes $135 in income from the gate split at the Chung Ling Soo Stage Magic Competition and an expense of $36.89 to transfer a VHS videotape of the contest to DVD. At the meeting, members voted to approve a proposal to transfer $50 of the contest income from the General Fund to the Chung Ling Soo Endowment; this transfer is reflected in the figures presented here. Members voted to approve the Treasurer's Report.

October 21, 2007. Treasurer Randy Von Smith presented a Treasurer's Report. The Ring bank account has a total of $1427.33, with $322.00 in petty cash for a total of $1749.33. The Ring funds include a total of $387.17 in endowments: Ring Name Plaque Endowment ($140), Elliott Endowment ($110), Chung Ling Soo Endowment ($67.17), Max Malini Endowment ($60), and Lecture Endowment ($10). Members voted to approve the Treasurer's Report.

November 11, 2007. Treasurer Randy Von Smith presented a Treasurer's Report. The bank balance is $1426.87 with $340.00 in petty cash for a total of $1766.87. The Ring funds include a total of $387.17 in endowments: Ring Name Plaque Endowment ($140), Elliott Endowment ($110), Chung Ling Soo Endowment ($67.17), Max Malini Endowment ($60), and Lecture Endowment ($10). We are still awaiting a check from the Criterion for the Legend of Houdini show (approximately $450). The only expense associated with this show, already charged, is $63.13 for refreshments for performers.