It was a good year for the club with all races bringing in more revenue than expenses. We're not a for profit organization but it's still nice to run in the black instead of the red.  All race directors reports were submitted and that process while not perfect, is better. 

All club operations had revenue of $96,973.99 and expenses of $86,161.21 for a net operating revenue of $10,812.68.  The 2019 Statement of Activity is attached. There's a detailed version of the statement if you'd like to see it.

We ended the year with the following balances:

$50,670.75 in checking

$1320.17 in savings

$49,115.17 in money market

$101,106.09 total

The money market was added mid year in an effort to earn a better interest rate than our savings account. It was an intro rate so we'll have to revisit this year.

That's the summary.  Please let me know if you have questions.  

Thank you-

Thank you Matt for a thorough report. I know the RD and RSU financials are very time consuming.

Two financial items from last meeting. Matt Young and Adam Casseday now have signatory rights to the Huntington account. I opened a Money Market account and transferred most of the funds from our saving account. The interest rate while still modest is much better, .1 % to 2.25% is what it is now I believe. 

I move we accept the Treasure's Report as submitted.

Is there a second to Lehmann's motion?

I will second.

Motion and second.  Any discussion?