Good morning! 

Total cash balance as of this morning is $89,476.41.

This is broken down between 3 accounts:

Money Market-$49,673.09

Checking-$38,372.54

Savings-$1430.78

I have reports from Trilogy and KT to finalize and then all race reports are up to date. 

The google doc is really helping me out when it comes to bookkeeping! Thanks to all for using it. 

If anyone has questions please ask!

Accounts seem a little low compared to pre-covid years. I know that we've had limited events in recent years. 

I took over during covid times so this may be a combined question for Matt too. But it would make sense- less events in general, lower membership, nobody purchasing club gear in person at events, rising prices of literally everything...the list goes on. So far every race report I have seen has made a profit except Trilogy this year. But Dan is aware of this and is looking to make changes for next year. This was the first year Trilogy did not turn a profit. 

The KT came in over budget as well. I used pre-COVID numbers as my planning factor but needed approximately 25 sign ups to reach historical norms. I expect to get back to normal in ‘23 after the positive response this year  

The club hosts great races with budget minded RDs. We're in a comfortable financial position and can easily cover our pre-race expenses. We'll be fine as race turnout starts increasing again next year.

The balance usually hovers between 95k and 105k.   

if we have two fiscal years with a declining net balance I would think we would need to have a plan to reverse the trend.   

I personally feel we should have enough funds in the bank equal to the two years of expenses.   

@laurbeam20 is right on with those comments.  Before 2020 we had net income of about $10,000 each year. General club expense run about $10,000 also which is for RRCA membership, insurance, supplies etc.  We also had general club income from dues and donations and to a lesser extent RSU partnership and merchandise.  With fewer races and less members, revenue is down.  This is our first year back and we have less races but I wouldn't be too concerned over a declining balance just yet.  It takes approximately $10,000 each year to run the club so we have over 8 years of expenses in the bank. That's over simplifying it but you get the idea.  At the end of the year we can see how we do on our profit and loss.

Move to approve the Treasurer's report as presented.

@matt I 2nd motion to approve Treasurer's report