May 2018 Financial Review. Reagan Orchestra Booster Club

Transcription

1 May 2018 Financial Review Reagan Orchestra Booster Club

2 May 2018 Financial Highlights (June 2017-May 2018) Program Services Program Services Financial Results Summer Camp Deficiency of $786 Lock-in Excess of $184 Concert Meals Deficiency of $3 Orchestra Polos Deficiency of $45 Banquet Deficiency of $1,619 Banquet finished with a deficiency of $1,619 Revenues were under budget $430 The budget was based on 175 paying $40/each Actual paying attendees was $45/each Expenses were over budget $1,189 due to the venue being over budget $1,332 The venue was budgeted at $25/attendee while actual cost was $39.28/attendee This was primarily due to the change in venue to The Club at Sonterra from the Holiday Inn

3 May 2018 Financial Highlights (June 2017-May 2018) Contributions $6,271 (58 separate donations) Budget of $5,000 Fundraising Booster Club Fundraiser (Opt Out and Wash Tub) $8,045 vs. budget of $9, students received vs. current active list of 204 (78%) Needed 19 of 58 to meet budget Spirit Nights Aug $120 Chick-fil-A Sept $155 Taco Cabana Oct $156 MOD Pizza Nov $459 Jersey Mike s Subs Dec $213 Panda Express Jan $100 Jet s Pizza Feb $132 Aldaco s Mar $170 MOD Pizza Apr $172 Chipotle Averaged $186 versus budget of $150 and held 9 versus 8 budgeted

4 May 2018 Financial Highlights (June 2017-May 2018) Fundraising (continued) Collected $727 from the Barnes & Noble Book Fair (versus budget of $800) Collected $840 from the Holiday Market (there was no budget as new event) Spring Concert Meal and Auction Generated $3,110 of revenues which was $890 under budget Dinner ticket sales of $1,668 were $332 under budget Auction proceeds of $1,442 were $558 under budget Expect to collect another $160 for donated items sold at other auctions Costs of the meal/auction came in under budget $1,184 thanks to the donation of the meals by the Balfours As a result of the donation of the meals, overall the event netted $2,994 which was positive to budget by $224

5 May 2018 Financial Highlights (June 2017-May 2018) Overall Results Finished the year with a budget excess of $7,558 vs. planned deficit of $900. Positive variance of $8,458 As of May 31, available funds were $22,317 (cash balance = $24,645) Recommend maintaining available funds of $5,000-$10,000 May 2018 Activity Paid deposits for the following: 2019 Banquet - $ Student Officer Retreat - $1,000 Paid for the following: Concert programs - $248 Clinicians - $200 Senior roses - $48 Summer packet printing - $361

6 Reagan Orchestra Booster Club STATEMENT OF ACTIVITY June May 2018 Revenue CONTRIBUTIONS FUNDRAISING GENERAL EXPENSE PROGRAM SERVICES TOTAL 501 Contributions 6, $6, Booster Club Fundraiser $ The Wash Tub - Booklets $ Greenery Fundraiser $ AmazonSmile Foundation Donation $ Holiday Market $ Opt Out Fees 7, $7, Total 510 Booster Club Fundraiser 9, $9, Dinner/Silent Auction $ Dinner Ticket Sales 1, $1, Silent Auction Proceeds 1, $1, Total 511 Dinner/Silent Auction 3, $3, Spirit Nights 1, $1, Barnes & Noble Book Fair $ Miscellaneous Fundraiser $ Summer Camp $ Summer Camp - Fee 2, $2, Summer Camp - Fiesta Texas 1, $1, Total 550 Summer Camp 4, $4, Orchestra Polos 2, $2, Lock-in 3, $3, Banquet 6, $6, Concert Meals 1, $1, Total Revenue $6, $14, $0.00 $17, $38, GROSS PROFIT $6, $14, $0.00 $17, $38, Expenditures 710 Booster Club Fundraiser Expense $ Greenery Purchases $ Miscellaneous Fund Raising Expenses Total 710 Booster Club Fundraiser Expense $ $ Dinner/Silent Auction Expense $ Cost of Meals $ Silent Auction Expenses $10.81 Total 711 Dinner/Silent Auction Expense $ Summer Camp Expense $ Summer Camp Clinicians 2, $2, Summer Camp T-Shirts 1, $1, Summer Camp Fiesta Texas 1, $1, Accrual Basis Monday, June 4, :37 PM GMT-7 1/3

7 750.4 Summer Camp Volunteers Fiesta Texas CONTRIBUTIONS FUNDRAISING GENERAL EXPENSE PROGRAM SERVICES TOTAL $ Summer Camp Snacks $ Parent Meeting Snacks $ Parent Meeting - Office Supplies $28.63 Total 750 Summer Camp Expense 5, $5, Orchestra Polo Expense 2, $2, Lock-in Expense 3, $3, Banquet Expense $ Banquet - Venue 5, $5, Banquet - Awards $ Banquet - Entertainment $ Banquet - Decor/Favors $ Banquet - Stationary $ Banquet - Postage $ Banquet - Senior Gifts $ Total 753 Banquet Expense 8, $8, Concert Meals Expense 1, $1, Snacks $ Concert Programs 1, $1, Texas Music Educators Association (TMEA) TMEA Convention - Hotel for Director Total 807 Texas Music Educators Association (TMEA) $ $ $ Clinicians 1, $1, Office Supplies $ Senior Roses $ Director Requests 1, $1, Bank Fees $ Competitions and Related Costs $ TMEA Honor Orchestra Competition TMEA Honor - Entry Fee $ TMEA Honor - Recording $ Total 804 TMEA Honor Orchestra Competition Total 814 Competitions and Related Costs $ $ $ Summer Packet Printing $ Accounting Software $ Orchestra Student Board Officer Retreat Student Officer Retreat - Lodging Student Officer Retreat - Clinicians Total 825 Orchestra Student Board Officer Retreat $0.00 1, $1, $ , $1, Accrual Basis Monday, June 4, :37 PM GMT-7 2/3

8 CONTRIBUTIONS FUNDRAISING GENERAL EXPENSE PROGRAM SERVICES TOTAL 899 Miscellaneous Expense $ Total Expenditures $0.00 $ $10, $20, $31, NET OPERATING REVENUE $6, $13, $ -10, $ -2, $7, NET REVENUE $6, $13, $ -10, $ -2, $7, Accrual Basis Monday, June 4, :37 PM GMT-7 3/3

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12 Reagan Orchestra Booster Club STATEMENT OF FINANCIAL POSITION As of May 31, 2018 TOTAL AS OF MAY 31, 2018 AS OF MAY 31, 2017 (PY) ASSETS Current Assets Bank Accounts 100 Jefferson State Bank 24, , Total Bank Accounts $24, $16, Other Current Assets 140 Due From NEISD Due From Donors Banquet Deposit Student Officer Retreat Deposit 1, Total Other Current Assets $1, $ Total Current Assets $26, $17, TOTAL ASSETS $26, $17, LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable 200 Accounts Payable 2, Total Accounts Payable $2, $ Other Current Liabilities 215 Accrued Liabilities 1, , Total Other Current Liabilities $1, $1, Total Current Liabilities $4, $2, Total Liabilities $4, $2, Equity 301 Accumulated Surplus 14, , Net Revenue 7, , Total Equity $22, $14, TOTAL LIABILITIES AND EQUITY $26, $17, Accrual Basis Monday, June 4, :20 PM GMT-7 1/1