3QFY16 TVCC Financial Report

by BG Smith, Treasurer.



The Tennessee Valley Canoe Club (“Club”) fiscal year runs from 1 July to 30 June.  This report covers the 3rd Quarter of the current fiscal year, from 1 January through 31 March 2017.  This report was presented to and approved by the TVCC Board on 11 April 2017.


The Club operates with three cash accounts:  a checking account, a PayPal account, and a petty cash account.  On 31 March 2017 those accounts had $17,897.89 cash on hand.  Overall, the Club is in sound financial health.


Primary Income for the Club is derived from Membership Dues and Paddle School.  Other Income is generally a pass-thru to our service providers.  Membership Dues have continued at $20 per year for a Family Membership and the Club currently has approximately 900 registered Family bundles.  2017 Paddle School registration opened in March 2017 and the initial registration was very strong, filling over 50% of the classes.  Winter Roll Practice sessions account for the only Paddling Event this quarter.  Those proceeds help offset the cost to rent the YMCA pool in Downtown Chattanooga.   ACA (American Canoe Association) Insurance Fees are collected by Club for various Paddling Events the Club holds (notable the roll practice sessions this quarter) then forwarded to ACA under our agreement with them.  Donations are likewise provided to the beneficiary in expeditious manner.  In this quarter, the Club collected donations for the Ocoee (Polk County) Disaster Relief Fund.  


Club Expenses for the quarter include initial down payments to secure the venues for both the Paddle School (Line 1000) and 50th Anniversary Celebration (under Line 2000, Operations).  Other Operations expenses include YMCA pool rental for the five sessions that were held, Trip Leader Support, and donations to American Whitewater, Polk County Fire and Rescue, and the Ocoee Disaster Relief Fund.  Safety & Training expenses for the quarter include the ACA Certification training of two TVCC members, one for L2 Coastal Kayak and one for L4 Swift Water Rescue.  Additionally, the club purchased equipment to support the upcoming Swift Water Rescue course planned for May.  Operations Support area includes a charge for the conversion from a monthly to an annual subscription rate for one of our software licenses, an action that will save the Club resources in the long term.  The Admin & Business area includes normal charges for banking services, tax payments, and other routine business activities.


If you have any questions or would like more detail about Club finances, feel free to contact me or any Club Officer.