This will be my last quarterly treasurer’s report for this year. If the membership is so inclined, I’m hoping to be voted in as a director at today’s meeting. Regardless of the outcome, it has been my honor and pleasure to serve as Glen Eden Treasurer for the past two years. This club means so much to me, and the wonderful memories I have from 30 years here are immeasurable. Now on to the numbers. We’ve continued our anticipated trend of posting net cash gains for each month—and October was no exception. Our net cash for the month was up $11,780. We ended September with $1,457,463, and October with $1,469,423. Our net income for the month was up $18,099, which included our standard monthly deduction of $19,820 in depreciation. So we continue to post positive revenue gains. As we begin our project to complete the Bowl sites, plus the new laundry, restroom and meeting room facilities, we’ll see those numbers dip a bit. But the financial structure remains solid for covering those costs and continuing to improve our bottom line. Our numbers from the 4th quarter of our fiscal year, which runs Oct. 1 through Sept. 30, again shows the strong fiscal footing of Glen Eden—thanks to a lot of hard work, dedication and focus by board members and officers. Comparing 4th quarter figures for the year just ending with the same quarter the year earlier, we posted an additional $26,000 in permanent site fees and $7,000 in gate fees. Administration expenses for 4th Q 2010 were up $130,000, which included the Abundiz legal settlement, associated legal and other fees, as well as costs for the IRS audit of our compliance with non-profit regulations regarding non-member income (which was completed in our favor!). Our cash increase for the quarter nonetheless was $86,600. Looking at the entire fiscal year, from Oct. 1, 2010, to Sept. 30, 2011, our total revenue was $2,868,576—up $520,000 from the previous fiscal year. This reflects payments for North Park. In the fiscal year just concluded, we added $1,360,471 in assets for the club, ending with assets of $4.5 million. That is a tremendous accomplishment! The bottom line is that the club is financially strong and members have really been pulling together. The mixture of fiscal strength and common purpose is unmatched. We’re looking forward to more wonderful improvements in the next year and beyond.
Thank you for the opportunity to serve Glen Eden.