CALTA Financial Report

 2006-2007 actual

 

 2007-2008 budget
 

TOTAL

per member

(710)

  

TOTAL

per member

(700)

   Opening Balance beginning of season

   $  3,679

       $ 5.18

        in reserve

  

   $  3,539

            $ 5.06

             in reserve
   Dues Revenue

  $ 14,200

   (710 members)

$ 20.00

  

  $ 14,000

   (700 members)

$ 20.00
 Total Funds Available  (Dues + Reserve )   $ 17,879

$ 25.18

     $ 17,539

$ 25.06
 Expenses:          
    Web Site    $   ( 142) $ (  .20)      $   ( 300) $ (0.43)
    IRS Filing Fee **    $   ( 750) $ ( 1.06)  

 n/a

  
    Accounting Services **    $   ( 600) $ ( .85)  

 n/a

  
    Administrative Expenses (a)    $    (903) $ ( 1.27)      $  (1,200) $ ( 1.71)
    Luncheon Subsidy (c)    $  (5,349) $ ( 7.53)      $  (6,000) $ (8.57)
    Prizes for Winning Teams    $  (1,423) $ ( 2.00)      $  (1,500) $ (2.14)
   Gifts for each member    $  (2,310) $ ( 3.25)      $  (3,300) $ (4.71)
   Fence Signs (for 22 member tennis centers)    $ ( 863) $ ( 1.22)  

 n/a

  

   Junior Recognition Program

            - budgeted allocation from dues (d)

   $ (2,000)   

 $ ( 2.82)

  

   $ (2,000)   

 $ (2.86)
 Total Uses of Funds    $ (13,340)

$ (20.20)

      $ (14,300)

$ (20.43)
             

 End-of-Season Balance

(Total Funds Available less Total Uses of Funds)

    $ 3,539 (b)

      $ 4.98

    in reserve

      $  3,239 (b)

         $ 4.63

         in reserve

 

** In 2006, CALTA filed with the IRS for recognition of its tax-exempt status (as a 501c7 social organization) -- necessary due to

      the high level of cash flows as a result of the growth in CALTA's Junior Recognition Program.  See Note (d) below.

 

(a) "Administrative Expenses" consists of paper, office supplies, copying, refreshments

        at the annual captains' meeting and administration of the Junior Recognition program.

(b) The Board considers it desirable to maintain a reserve of at least $3000 for any unforeseen expenses -- including the

      possibility of  having to pay for the services of a computer programmer for match scheduling and/or web site

     maintenance (both currently provided  at no charge).  

(c) The cost of food and drinks at the luncheon is fully funded by cost to attend.  The subsidy budgeted from dues

      covers room charges, door prizes, centerpieces, decorations,  wrapping/paper supplies and police services.

(d) The'07 Junior Recognition Program announced 35 awards totaling $9200 -- $5915 raised at the luncheon raffle,

        $2000 from dues and $1285 unused funds from prior years.