TEMAC remains in good financial condition as a result of continued prudent management of our finances by the Board, ensuring that we spend on the important things, but stay within our fiscal means. We have invested carefully in solid infrastructure improvements (e.g. driveway upgrades) and field maintenance (rolling; seeding; grass cutting) to ensure a good facility which meets the needs of our growing club, with adequate funds remaining to cover our other operating expenses and of course, food, prizes and awards for our fun fly events. In October the Board approved our first dues increase in 10 years, from $65 to $80 per year for full memberships, effective 2014, to allow for inflation, additional field improvements (e.g. possible geotex runway, gravel, storage bins) and increased operating costs (lease, web site, office expenses). The complete new fee structure is available on the TEMAC website (http://temac.ca/?page_id=5).
The increased revenue stream created by unprecedented membership growth in 2012, has remained stable, with modest turnover in membership in 2013. TEMAC’s membership now stands at 126, including 2 life members, 14 junior members and 5 non-flying members, making TEMAC the largest club in the SE Zone of MAAC. Growth in the club has put significant additional demands on our field resources (parking, assembly tables, and airspace availability), but so far have not had to limit how many members we can accommodate at TEMAC.
Looking to 2014, we are submitting an application for a Trillium grant and have again requested funding from the SE Zone of MAAC to allow us to make further improvements to our field, including the parking area and driveway at ROGO field. Given our positive cash situation over the year, and the added revenue from the dues increase, we look forward to maintaining our facilities in good condition with modest improvements.
And I can’t emphasize enough how extremely fortunate we have been to have the talents of a consummate IT professional and web designer, Ben Feist, to make our web site the vibrant communications and discussion vehicle that it is.
Andy Hoffer
Secretary-Treasurer and Membership Director
TEMAC
| TEMAC – Financial Statement – Jan 1 to Dec 2, 2013 | |||
| Assets @ Dec 2, 2013: | |||
| Adjusted Bank Balance (net of outstanding cheques) |
5,476.85 |
||
| Total Assets |
5,476.85 |
||
| Liabilities @ Dec 2, 2013 | |||
| None |
0.00 |
||
| Net Assets (= Assets less Liabilities) |
5,476.85 |
||
|
Debits |
Credits |
||
| Revenues (Jan 1, 2013 – Dec 2, 2013): | |||
| TEMAC Memberships |
6,550.00 |
||
| New member contributions (initiation) and event ticket and auction sales (incl 19 x 2013 initiations @ $30 = $570.00) | 570.00 |
1,621.25 |
|
| Dome Fly Revenues (pending Dec 29, 2013 fun fly |
0.00 |
||
| MAAC Contributions |
0.00 |
||
| MAAC Membership Award |
0.00 |
||
| Bank Interest |
0.55 |
||
| Total Income |
8,171.80 |
||
| Expenses (Jan 1 – Dec 2, 2013): | |||
| Hardware, Stationery Supplies, Postage |
293.71 |
||
| Grass Cutting (May 1 – Sept 30, 2013) |
2,000.00 |
||
| Field Improvements (gravel, grass, pilot stations) |
2,072.23 |
||
| Annual Fun Fly & Mini Fun Fly Expenses, Golf Dome Rental, Christmas Party Deposit, Web Site |
1,242.58 |
||
| Bank Charges |
0.00 |
||
| Field Rental (for 2014) |
1,500.00 |
||
| Total Expenses |
7,108.52 |
||
| Net Revenues (Jan 1 – Dec 2, 2013) |
1,063.28 |
||
| Draft Budget for 2014 | Rev 1 | ||
| Dec 2 2013 | |||
| Revenues: | |||
| Memberships | 100 x $80 |
8,000.00 |
|
| Dome Fly | 30 x $20 |
600.00 |
|
| Annual Fun Fly | no adm chg |
0.00 |
|
| Annual Fun Fly raffle | 30 x $5 |
150.00 |
|
| Annual Fun Fly auction |
250.00 |
||
| Jets Day Mini Fun Fly | 30 x $5 |
150.00 |
|
| Warbirds Mini Fun Fly | 30 x $5 |
150.00 |
|
| Skills Challenge Mini Fun Fly | 30 x $5 |
150.00 |
|
| Total Revenues |
9,450.00 |
||
| Expenses: | |||
| Field Rental (Lease) |
1,500.00 |
||
| Grass Cutting | 5 x $400 |
2,000.00 |
|
| Field Maintenance (gravel, seeding, rolling) |
1,900.00 |
||
| Field Improvements (Geotex runway) | 1,500.00 | ||
| Dome Fly |
452.00 |
||
| Annual Fun Fly; Mini Fun Fly Events (food, prizes) |
1,400.00 |
||
| Web Site Hosting |
86.00 |
||
| Office (stationery, postage) |
250.00 |
||
| Total Expenses |
9,088.00 |
||
| Gain (Loss) | 362.00 | ||