28 <strong>February</strong>
2016 Maverick Region Financial Statement By Richard Solomon, Region Treasurer he 2016 financials for T the Maverick Region of Porsche Club of America 7:55 have AMbeen included in this month’s 01/07/17 magazine Net Revenue or Cost MAVERICK REGION PCA for transparency to Cash our Basis members January through December 2016 of all club activities. It is important to all of us on this Board to be good stewards of what we are given to further expand our club, but to also further the brand of Porsche Club of America and Porsche. 2016 results reflected a net cost to the club of $9,755, which is a decline as compared to 2015. This is attributable to higher track expenses related to our Driver Education programs and planned excess costs towards club-wide events. Also, the timing for receipt of certain sponsorships and advertising income contributed to this position. Lastly, we are proud to mention that through the generosity of our club members and by decision of the Board, we were able to provide direct financial support to two region charities totaling $18,095. So, Thank You! In conclusion, despite these results, the club remains on strong financial footing to meet the needs of its members and the charities we support. We will continue to work to improve your club experience while maintaining the integrity of our financial charge. Jan - Dec 16 Ordinary Income/Expense Income 4000 · Revenues 4001 · Membership 34,353.80 4002 · Registrations 166,972.59 4003 · Sponsorships 22,565.00 4004 · Goodie Store sales 596.18 4005 · Advertising income 30,047.92 Total 4000 · Revenues 254,535.49 4006 · Interest Income 33.66 4007 · Charitable receipts 2,835.00 4008 · Social Income 4008-03 · Founders Day -400.00 4008 · Social Income - Other 510.00 Total 4008 · Social Income 110.00 4009 · Other 362.65 4011 · Auction proceeds 4,934.00 Total Income 262,810.80 Expense 5000 · Expenses 5001 · Track Expenses 166,241.44 5002 · Social expenses 19,553.99 5003 · Goodie Store Purchases 176.50 5004 · SlipStream 47,124.23 5005 · Postage 3,167.48 5009 · Concours expenses 577.54 5011 · Rally Expenses 275.94 Total 5000 · Expenses 237,117.12 5006 · Other administrative expense 9,005.06 5007 · Board Meetings 3,888.05 5008 · Storage 3,020.00 5010 · Sunday drive expenses 1,440.79 66900 · Reconciliation Discrepancies 0.33 Total Expense 254,471.35 Net Ordinary Income 8,339.45 Other Income/Expense Other Expense 6001 · Charitable donations 18,094.93 Total Other Expense 18,094.93 Net Other Income -18,094.93 Net Income -9,755.48 29