2018 ACMOC Show Expenses $23,995??

Hello All

Just been reading the Nov / Dec 2018 ACMOC Magazine and analysing the Fin Stmts to 31 Aug 2018.

I see that the loss for the eight months is -$76,477 - so that's consistent with monthly losses now running at -$9500 per month. Guess that will reduce by about $4000 per month from Nov 2018 now that Tricia has been "restructured". Looks like the loss is on track to be $100k+ for the year ending 31 Dec 2018. Lets hope that the Directors business plan of a donation is underway to close that gap!

Show Expenses - Im a little troubled by the "Show" Expenses $23995 - Show revenue was $18519 so the show was a loss of $5476. I have been thinking what could have been included as show expense and revenue for that magnitude ?? The $23k can't all be travel expenses - but given the financial position of the club there should be disclosure if the Directors (let alone Officers ie non elected office holders) have been reimbursed to travel to a show!! So I can only think that it is perhaps a Show Banquet that was not fully covered by meal charges for attendees!! Seems odd, but I am sure there is a transparent answer that can be easily shared to put all our minds at ease.

Hudson

Hi, Cat-astrophe.
My magazine is still waiting for me at home but I for would be interested in seeing the FULL breakdown of those items.

Wunn Wundarz.

Just my 0.02.

[quote="Cat-astrophe"]Hello All

Just been reading the Nov / Dec 2018 ACMOC Magazine and analysing the Fin Stmts to 31 Aug 2018.

I see that the loss for the eight months is -$76,477 - so that's consistent with monthly losses now running at -$9500 per month. Guess that will reduce by about $4000 per month from Nov 2018 now that Tricia has been "restructured". Looks like the loss is on track to be $100k+ for the year ending 31 Dec 2018. Lets hope that the Directors business plan of a donation is underway to close that gap!

Show Expenses - Im a little troubled by the "Show" Expenses $23995 - Show revenue was $18519 so the show was a loss of $5476. I have been thinking what could have been included as show expense and revenue for that magnitude ?? The $23k can't all be travel expenses - but given the financial position of the club there should be disclosure if the Directors (let alone Officers ie non elected office holders) have been reimbursed to travel to a show!! So I can only think that it is perhaps a Show Banquet that was not fully covered by meal charges for attendees!! Seems odd, but I am sure there is a transparent answer that can be easily shared to put all our minds at ease.

Hudson[/quote]

Hello Hudson,

I do not wish for caring members to be making inaccurate judgements from lack of the most recent information so I will attempt to inform you of the lacking details.

Our expenses have been exceeding our revenue. We saw the need to make cuts in our expenses. Accordingly we reduced staff as you indicated. Other cost savings are being put in place and other options are being looked at.

Regarding your comments on the Members Event of last June in Peoria, the revenue number that you see is from pre-event sales. You do not see, because at the time it was not available by August 31, the additional show revenue of approximately $6,000+ from sales of merchandise, auction proceeds, donated facility charges, etc. Subsequently, total show revenue exceeded $25,000.

I believe the show cost number of $24K, does include travel reimbursement (per the by-laws) for some of the board member attendees who came in a day or two early for our annual face to face meeting prior to the event. I believe less than half of eligible board members requested reimbursement. Most paid their way out of their own pocket. I did not submit for reimbursement as I had combined my visit to Peoria with a personal vacation trip to the east coast.

We continue to strive to the best of our ability to recognize the issues that confront us as they appear and do our upmost to deal with them. I trust that you will find this post informative as that is my intent.

JanM, BoD member