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427 Squadron Association - Financial Report for 2013
I am changing the reporting format for this year to a narrative report for two reasons. First, as a means of saving paper and secondly because there wasn't much activity in the financial world of your association in 2013.
2013 was a good news bad news year. On the good side, Wayne was able to reduce our expenses for ROAR and the Website to a mere $1122.17 and we had no other claimed expenses. Therefore, you might ask, if that is the good news then what is the bad news?
Well, on the revenue side, we received less than half of the support you sent us in 2012 ($840.00 vs $1814.46) and in addition our bank interest plummeted from $3.33 to a mere $2.67. Can you believe it.
We welcomed two new members in 2013 ($100.00) and received donations of $740.00 plus the paltry bank contribution. I'll save you some head scratching by doing the math for you - the net result is that we operated the year at $279.50 in the red and that is indeed bad news.
Our bank balance remains solid at $4165.56 (down from $4445.06) and your Executive Committee is hopeful that last year was just an anomaly and we can look forward to a brighter future in 2014.
If you would like an itemized report, please email me (it saves us money).