Account balances as of 10/6/2020:

Money Market- $49,624.46

Checking- $58,132.67

Savings- $1350.37

Total: $109,107.50

There has been very little activity in our accounts over the past several months so I have nothing to report.  I'm open to questions though. 

Matt

Thank you Matt for your excellent oversight of the club's finances. You have and continue to do a great job. 

I don't believe that a nonprofit running club should hold that much money in it's reserves. There is no need for it. 

I would recommend the club consider divesting itself of about half of it's holding in the form of donations to worthy non-profits in WV that help promote the health and well being of it's citizens. Doesn't have to be specifically running related. The board should keep enough money in reserves to cover it's operation expenses and for the purchase of new equipment. 

@hillbillywill My pleasure. 

I'm in favor of donating to worthy causes.  Many organizations, including some that we are close too like Experienced Learning, have struggled this year. Helping them out would be a great thing.  Maybe we could take some time to consider the appropriate amount and the appropriate causes between now and December 31st.  

We will run a deficit this year but not by much. Over the past few years we have net gains of $9-10,000. I suspect that will be more like a loss of $3-$4000.  That will probably show up in 2021 though since race registration revenue hit our account this year but the expenses will occur next year.  That may only apply to Highlands Sky in a significant way.  I believe it's the only one that had mostly deferrals until 2021. 

Regardless, after donations, even at the amount you are suggesting, we will have funds for operations and reasonable equipment purchases. 

Could we make a donation to Kanawha State Forest? I know the park is need of funds for a few shelter repairs and signs for the new trails coming shortly. if you want specifics I can have the new superintendent brief me on the items he intends to use the monies for. This way the club will be aware of what all we have helped to promote in Kanawha County.  

I move we accept Matt's Treasurers Report as submitted.

I second the motion.