Club ends fiscal year with small gain

Treasurer Julie Hayes submitted paperwork to the club’s board of directors showing income exceeded expenses for the year by $2,008.37.  The largest expense continues to be to the Ramada Hotel for meals, but the balance has been reduced since March 31 from four to one month.

Changes in recent months including losing our paid administrative assistant, Kelli, and not renewing the lease on office space are expected to improve the bottom line in future years. Ms. Hayes has also changed the accounting system from cash basis to accrual which accounts for expenses and income when they are incurred, not when bills are paid or revenue is received. The change will more accurately reflect the actual situation.

 

The club also has seven funds in the Community Foundation of Northeast Iowa. They are:

Scholarship Fund                     $26,034

Rotary Reserve Fund                 $7,528

Wine Tasting                             $3,566

Nicaragua and Uganda Fund      $21,475

Fireworks Fund                          $2,562

Youth Activity Fund                       $656

Operation Warm Fund                 $8,360