4QFY16 TVCC Financial Report
by BG Smith, Treasurer
Paddle School was the big story for this quarter (April 1st through June 30th), bringing in $24,000.
Paddle School, plus membership dues, are the Club’s primary sources of income and both registrations and expenses peaked in May and June. Proceeds from registrations of 156 students, plus the paddle school auction, totaled more than $24,000. This revenue was offset by the $13,700 it cost to host Paddle School, leaving $9,000+ that will allow the Club to execute our planned programs successfully in the coming year. In addition to the 156 students, there were 112 support boaters and staff at Paddle School.
(Click on graphic to see full size.)
The Tennessee Valley Canoe Club fiscal year runs from July 1st to June 30th and the report below covers the 4th Quarter of the current fiscal year as well as the composite totals for the entire year of Club operation. This report was presented to and approved by the TVCC Board on 11 July 2017. The new Club Budget was also approved by the Board at the July meeting.
The Club operates with three cash accounts: a checking account, a PayPal account, and a petty cash account. On June 30th, these accounts totaled $17,186.86 and included outstanding liabilities. Overall, the Club is in sound financial health.
A special income source this quarter was a $650 grant from the Ironman Foundation for TVCC participation in the May 21, 2017 Ironman Chattanooga 70.3 qualifying event. TVCC provided over 33% of the support boaters on the river that morning. We had asked TVCC members to register through a special portal that helped validate our participation. It paid off! Thank you, Ironman Foundation. Thank you TVCC’ers!
There are two more Ironman events this year, on September 9th and 10th and comprise the World Championships. We plan to conduct the same registration procedures and ask for your support to once again ensure the Ironman is a safe event.
In the coming year, look for changes to the winter roll practice sessions. We have negotiated with the University of Tennessee Chattanooga to use their pool. It includes a 3-foot waterfall and a lazy river. The pool is slightly smaller than the YMCA so less boats can be in the pool at the same time. To alleviate the issue, sessions will run for two hours, typically from 7-9 pm. Look for the schedule to be posted soon.
If you have any questions, would like more detail about Club finances, or want to see the new Club budget, feel free to contact me or any Club Officer. As always, we are interested in your feedback.