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I.B.M. Ring 362
The Maine Mystics
Bangor, Maine |
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Treasurer's Reports 2008 (Please see also
Treasurer's Reports
2006 and
2007.)
The Treasurer's Reports for 2008, extracted from the
Minutes and the
Executive Minutes, are presented here.
January 20, 2008. Treasurer Randy Von Smith presented a Treasurer's Report.
The bank balance is $1765.11, with $256.00 in petty cash for a total of $2021.11.
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). These totals do not include funds received at the meeting (dues payments and the raffle proceeds).
Members voted to approve the Treasurer's Report.
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January 20, 2008 (Board Meeting).
Treasurer's Report.
A. Current Finances. Here is the 2007 budget with budgeted, August 1 year-to-date (YTD), and full year numbers listed:
| Expenses |
| Item | | | |
Projected | |
YTD
(8/1/2007) | |
Full Year
(12/31/2007) |
| Postage & Website | | |
| $285 | |
|
| $215 | |
|
| $525.32 | |
Preservation materials
(Historian) | | |
| $75 | |
|
| $0 | |
|
| $0 | |
| Banquet speaker | | |
| $150 | |
|
| $0 | |
|
| $0 | |
| Annual incorporation fee | | |
| $35 | |
|
| $35 | |
|
| $35 | |
| Rumford plaque | | |
| $0 | |
|
| $35 | |
|
| $35 | |
| Awards (from endowments) | | |
| $0 | |
|
| $0 | |
|
| $61.70 | |
| Banquet cost for TVP | | |
| $0 | |
|
| $82 | |
|
| $82 | |
| VHS to DVD for Chung Ling Soo | | |
| $0 | |
|
| $0 | |
|
| $36.89 | |
| |
| All-Star Magical Revue Total | | |
| $495
[including program] | |
|
| $420.37
[$738.00] | |
|
| $420.37
[$738.00] | |
| | Posters/flyers | |
| $50 | |
|
| $113.83 | |
|
| $113.83 | |
| | Ticket giveaways | |
| $170 | |
|
| $75 | |
|
| $75 | |
| | Two Rehearsals at Otter Creek Hall | |
| $100 | |
|
| $0 | |
|
| $0 | |
| | Refreshments for performers | |
| $75 | |
|
| $100 | |
|
| $100 | |
| | Lighting | |
| $100 | |
|
| $0 | |
|
| $0 | |
| | Program (supported by ads) | |
| $0 | |
|
| [$317.63] | |
|
| [$317.63] | |
| | Tickets | |
| $0 | |
|
| $131.54 | |
|
| $131.54 | |
| |
| Legend of Houdini Total | | |
| $495 | |
|
| $0 | |
|
| $63 | |
| | Posters/flyers | |
| $50 | |
|
| $0 | |
|
| $0 | |
| | Ticket giveaways | |
| $170 | |
|
| $0 | |
|
| $0 | |
| | Two Rehearsals | |
| $100 | |
|
| $0 | |
|
| $0 | |
| | Refreshments for performers | |
| $75 | |
|
| $0 | |
|
| $63 | |
| | Lighting | |
| $100 | |
|
| $0 | |
|
| $0 | |
| | Program (supported by ads) | |
| $0 | |
|
| $0 | |
|
| $0 | |
| |
| Total expenses | |
| $1535 | |
|
| $1105.00 | |
|
| $1576.91 | |
| |
| Income |
| Item | | | |
Projected | |
YTD
(8/1/2007) |
Full Year
(12/31/2007) |
| Dues | | |
| $150 | |
|
| $195 | |
|
| $205 | |
| Donations | | |
| $0 | |
|
| $0 | |
|
| $87.67 | |
| Endowment Donations | | |
| $0 | |
|
| $0 | |
|
| $90.00 | |
| Award Donations | | |
| $0 | |
|
| $0 | |
|
| $30.85 | |
| Website ads | | |
| $40 | |
|
| $40 | |
|
| $40 | |
| Raffles | | |
| $200 | |
|
| $340 | |
|
| $382 | |
| Max Malini Parlor Magic Contest | | |
| $0 | |
|
| $122.50 | |
|
| $122.50 | |
| All-Star Magical Revue | | |
| $800 | |
|
| $868.50 | |
|
| $868.50 | |
| ASMR Program ads | | |
| $0 | |
|
| $430 | |
|
| $430 | |
| Chung Ling Soo Stage Magic Competition | | |
| $0 | |
|
| $0 | |
|
| $135 | |
| Legend of Houdini | | |
| $800 | |
|
| $0 | |
|
| $455 | |
| |
| Total income | |
| $1190 | |
|
| $1996.00 | |
|
| $2846.52 | |
| Bank Balance |
|
$1765.11 | | |
| Petty Cash | |
$256.00 | | |
| Total Funds | |
$2021.11 | | |
| Total Endowments | |
$387.17 | |
(19.1% of total funds) |
| Ring Name Plaque | |
$140.00 | | |
| Dr. James William Elliott | |
$110.00 | | |
| Chung Ling Soo | |
$67.17 | | |
| Max Malini | |
$60.00 | | |
| Lecture Endowment | |
$10.00 | | |
Funds Available
(Outside Endowments) | |
$1633.94 | |
(80.8% of total funds) |
The Board accepted the final balances on January 20, 2008, but understood that the financial statement of 2007 was still under revision.
The revised version (posted 1/31/2008) includes donations to the general fund, donations to endowments, and award expenses disbursed from the endowments.
This did not change the totals very much from January 20, 2008.
The Board had voted earlier via email to direct the proceeds of the January 2008, February 2008, and March 2008 raffles to the Lecture Endowment.
February 17, 2008.
Treasurer Randy Von Smith presented a Treasurer's Report.
The bank balance is $1755.21, with $341.00 in petty cash for a total of $2096.21.
The Ring funds include a total of $452.17 in endowments: Ring Name Plaque Endowment ($140),
Elliott Endowment ($110), Chung Ling Soo Endowment ($67.17), Max Malini Endowment ($60), and
Lecture Endowment ($75). These totals do not include funds received at the meeting (dues payments and the raffle proceeds).
Members voted to approve the Treasurer's Report.
February 17, 2008 (Board Meeting). The following report is from the Executive Minutes for February 17.
Treasurer's Report.
A. Current Finances.
| Bank Balance |
|
$1755.21 | | |
| Petty Cash | |
$341.00 | | |
| Total Funds | |
$2096.21 | | |
| Total Endowments | |
$452.17 | |
(21.6% of total funds) |
| Ring Name Plaque | |
$140.00 | | |
| Dr. James William Elliott | |
$110.00 | | |
| Chung Ling Soo | |
$67.17 | | |
| Max Malini | |
$60.00 | | |
| Lecture Endowment | |
$75.00 | | |
Funds Available
(Outside Endowments) | |
$1644.04 | |
(78.4% of total funds) |
The Board voted to approve the Treasurer's Report. The Board had voted earlier via email to direct the proceeds of the January 2008, February 2008, and March 2008 raffles to the Lecture Endowment.
B. Budget.
Here is the proposed 2008 budget, approved by the Budget Committee (Randy Von Smith, Danny Baker, Geoffrey Miller) via email on January 30, 2008:
Expenses |
| Incorporation fee | | $35 | | |
| Postage and website | | $500 | | Estimate from 2007 |
| All-Star Magical Revue | | $500 | | Estimate from 2007 |
| Other Shows & Contests | | $300 | | Estimate from 2007 |
| Kid's Magic Class Supplies | | $100 | | New expense |
| Archive/Historian/Video | | $100 | | Preservation materials, video conversion |
| Board Discretionary Fund | | $400 | | For unanticipated expenses; requires majority vote of Board |
| President's Fund | | $100 | | President's sole discretion required |
| Total Expenses | | $2035 | | |
Income |
| Dues | | $160 | | |
| Website ads | | $40 | | Four ads at $10 each |
| Raffles | | $300 | | Estimate from 2007 |
| Shows & Contests | | $1500 | | Assumes ASMR @ $850, October show @ $450, two contests @ $100 each |
| Total Income | | $2000 | | |
March 16, 2008. In the absence of the Treasurer, the Secretary presented the Treasurer's Report.
The cost of the President's Banquet was $550.90, with $433.00 taken in from guests (not counting the raffle), for a net cost to the Ring of $117.90.
The Board had voted by email to to charge this to the $400 discretionary fund budgeted for 2008.
Other recent expenses include paying domain name registration and web hosting fees for the Ring's website through March 2010.
The bank balance is $1729.42, with $344.00 in petty cash for a total of $2073.42.
The Ring funds include a total of $452.17 in endowments: Ring Name Plaque Endowment ($140),
Elliott Endowment ($86.44), Chung Ling Soo Endowment ($67.17), Max Malini Endowment ($60), and
Lecture Endowment ($162). These totals do not include funds received at the meeting (raffle proceeds, payments for dues, and payment for website ads).
May 18, 2008. Randy Von Smith presented the Treasurer's Report. The bank balance was $1,620.33 and there was $344.00 in petty cash for $1,964.33 in total funds.
Of these funds, $1,582.81 (80.6%) was unrestricted and $381.52 (19.4%) was in the endowments as follows:
Ring Name Plaque Endowment ($140.00),
Elliott Endowment ($130.35),
Chung Ling Soo Endowment ($67.17),
Max Malini Endowment ($60.00) and
Lecture Endowment (-$16.00). These figures did not include any fund transfers during the May meeting,
including raffle proceeds, gate for the Malini Contest, or reimbursement to the Contest Official.
Members voted to approve the Treasurer's Report.
June 8, 2008. Randy Von Smith presented the Treasurer's Report.
The bank balance was $1,620.33 and there was $434.00 in petty cash for $2,054.33 in total funds.
Of these funds, $1,618.31 (78.6%) was unrestricted and $440.52 (21.4%) was in the endowments as follows:
Ring Name Plaque Endowment ($140.00),
Elliott Endowment ($130.35),
Chung Ling Soo Endowment ($67.17),
Max Malini Endowment ($119.00) and
Lecture Endowment (-$16.00).
These figures did not include raffle proceeds from the June meeting.
Members voted to approve the Treasurer's Report.
July 20, 2008. Randy Von Smith presented the Treasurer's Report.
The bank balance was $1,578.33 and there was $460.00 in petty cash for $2,038.33 in total funds.
Of these funds, $1,605.81 (78.8%) was unrestricted and $432.52 (21.2%) was in endowments as follows:
Ring Name Plaque Endowment ($140.00),
Elliott Endowment ($130.35),
Chung Ling Soo Endowment ($67.17),
Max Malini Endowment ($111.00) and
Lecture Endowment (-$16.00).
These figures did not include raffle proceeds from the July meeting.