Slipstream - February 2017

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
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