Slipstream - March 2020

2019 Maverick Region Financial Statement
by Chris Flaugh, Region Treasurer
In the continued interest of complete transparency to our
membership, here is the year-end 2019 financial report.
This 2019 Statement of Activity, prepared by our previous
interim Treasurer, James L. Falgout, CPA, shows a net
excess of $29,714 for the year, an improvement over the
2018 figure of $22,020. Our track-related events (Driver
Education, Club Race, and COTA) continue to generate
strong participation and revenue. This revenue, combined
with the generous support we receive from PCA, our local
Porsche dealerships, and other businesses, has allowed
us to expand and enhance the many events our members
enjoy. Our Slipstream advertisers are a critical piece of
this as well, and we appreciate their ongoing support.
This strong performance across the board also allowed
us to increase our 2019 charitable contributions to
$23,651, up from $21,600 the previous year. As noted
in last month’s Slipstream, the Huffaker-Hughes Hope
House has continued to be the Maverick Region’s primary
charitable beneficiary.
Thank you all for making 2019 another strong financial
year for our club. These results make it possible to offer a
wide variety of events tailored to a multitude of interests,
and also to give back to our community. We look forward
to another successful year in 2020!
REVENUES
MAVERICK REGION PCA
STATEMENT OF ACTIVITY 2019
Registrations for track events $157,379
Sponsorship 45,225
Distributions from PCA 30,958
Advertising income 60,605
Revenue from COTA events 27,621
Social events 13,898
Goodie Store sales 756
Charitable donations received 6,717
Auction proceeds 7,550
Other 1,390
License Plates commissions 908
TOTAL REVENUES $353,007
EXPENSES
Track expenses $160,070
Social expenses 38,545
Goodie Store purchases 2,216
Slipstream costs 77,143
Concours, Rally, Sunday, Tech Sessions expenses 7,857
Other administrative expenses 9,655
Board meetings 4,156
Charitable donations 23,651
TOTAL EXPENSES $323,293
REVENUE IN EXCESS OF EXPENSES $29,714
prepared by James L. Falgout (temporary treasurer)
32 March