CALTA Financial Report
Totals may not add due to rounding.


2018-2019

  2019-2020
see Special Notes below

       
         CALTA's fiscal year is 6/01-5/31.

TOTAL

per member*
(1,009 season-end)

  

TOTAL

per member*
(969 season-end)

  Opening Balance beginning of season (note a)

      
          $9,916

        $9.83 
    in reserve

  

      
          $9,941

      $10.26 
    in reserve

   Dues Revenue 

          40,360

        40.00

  

          38,760

        40.00

 Total Funds including reserve
    (Opening Balance + Dues Revenue)

          $50,276

     $49.83

            $48,701

       $50.26
 Expenses:  
    Web Site     912  0.90   1,198  1.24
    Administrative Expenses (note b)   1,751  1.74   1,553  1.60
    Luncheon Subsidy (note c -- for '18-'19) 26,093 25.86      871   0.90
    Awards for Winning Teams   2,562   2.54   2,259   2.33
   Gifts for Each Member   3,609  3.58   4,516  4.66
   Gifts for Captains  2,028  2.01   2,396  2.47
   New Supply CALTA pens     380   0.38      
   New Supply Bag Tags for New Members         603   0.62

   Junior Recognition Program (note d -- for '18-'19)      

     3,000   

   2.97

               15,000

 15.48

 Total Uses of Funds    

           $40,335             

        $39.98

           $28,396             

        $29.30

 End-of-Season Balance (note a)

             $9,941  

        $9.85

     in reserve

               $20,305      

        $20.96

     in reserve

 *  "Per Member" amounts are calculated using season-end membership (1,009 for 2018-2019 and 969 for 2019-2020).

Special Notes for 2019-2020:
   The financial report for 2019-2020 reflects the cancellation of the annual luncheon in May.  Most of the expenses incurred were reimbursed by cancellation insurance; the remaining expenses ($871) cover supplies purchased that will be used at future luncheons.  Had the luncheon been held as planned, we would have had an operating deficit -- necessitating an increase in the annual dues to $45 in 2020-2021.  Because of the excess surplus resulting from the cancellation of the luncheon, it is expected that there will be no need to raise the annual dues in the near future.  
   The funds to support CALTA's Junior Recognition Program (JRP) are normally raised at our luncheon fundraiser (with over $11,000 raised at the luncheon in recent years).  With the surplus resulting from the cancellation, the 2020 JRP is able to be fully funded.  Instead of the budgeted $3,000 annual transfer from dues to the JRP Fund (note d), the Board has elected to transfer $15,000 this year. 

(a) The Board considers it desirable to maintain a reserve for unforeseen expenses -- including the possibility of having to pay for the services of a computer programmer for match scheduling and/or website maintenance (both currently provided at no charge). 
(b) Administrative Expenses include bank charges, office supplies, printer cartridges, copying, postage, adhesive name tags for luncheon, supplies/mailings for the Junior Recognition Program, fees to State/Federal regulators.  
(c) The cost of food and drinks at the luncheon is only partially funded by cost to attend. The subsidy budgeted from dues is needed to fund the costs of rental charges (room, tables, chairs, audio system), event insurance (liability and cancellation), room and table decorations, gratuities, wrapping paper/supplies, police services.

(d) An amount decided by the Board (currently $3,000) is allocated annually from dues to the Junior Recognition Program.  The total awarded by the program each year is determined by adding this amount to the funds donated by members at the luncheon fundraiser.