Ottawa Outdoor Club

Finances - Income and Expense Statement (2018) & Accepted Budget (2019): Rob Burnfield - 2018 AGM

The following budget was developed and accepted by the membership at the AGM.  It differs somewhat from the budget originally proposed.

OTTAWA OUTDOOR CLUB
Income and Expense Statement:  2018 (Actual) and 2019 (Budget)
1 October to 30 September ($)
               
        2018 2019
        Budget Actual Variance (1) Budget
             
Income     9,900 9,238.00 -662.00 11,725
  Membership fees 9,550 9,052.00 -498.00 10,925
    Membership registration (2) 8,200 8,145.00 -55.00 9,225
    Non-member activity fees (3) 1,350 907.00 -443.00 1,700
  Hospitality   45.00 45.00 500
    Annual Bar-B-Q   45.00 45.00 0
    Special event(s) - 25th anniversary (4)       500
  Rental fees (5) 350 141.00 -209.00 300
    Snowshoes   36.00    
    Canoes   105.00    
               
Expense     13,950 10,628.58 3,321.42 11,655
  Administration   1,100 1019.06 80.94 1,105
    Bank fees 30 80.93 -50.93 30
    PayPal fees (6) 460 334.07 125.93 440
    Post Office Box 210 210.18 -0.18 215
    Postage   200 211.32 -11.32 220
    Office supplies   200 182.56 17.44 200
  Insurance (7)   4,700 4069.44 630.56 4,200
  Publicity     600 185.28 414.72 850
    Web hosting 250 185.28 64.72 250
    Advertising / printing 350 0.00 350.00 600
  Hospitality     1,850 1,493.65 356.35 900
    Volunteer recognition dinner (8) 650 717.47 -67.47 200
    Annual Bar-B-Q (9) 1,200 776.18 423.82 200
    Special event(s) - 25th anniversary (4)       500
  Group travel subsidies (10)   1,000 469.47 530.53 300
  Training & development   1,250 619.20 630.80 1,000
  Exec meetings & AGM (11)   500 480.95 19.05 500
  Equipment & storage   2,950 2,291.53 658.47 2,800
    Rent for canoe storage (12)   1,800 1,800.00 0.00 2,000
    Canoes and related supplies 800 488.68 311.32 0
    Miscellaneous - procurement & maintenance (13) 350 2.85 347.15 800
               
Net Income $ -4050 -1,390.58 2,659.42 70
           
Reimbursement for equipment to be replaced (14)         1,200

Notes

  1. For Income, a negative Variance indicates that we received less income than budgeted.  For Expense, a negative Variance means that our expenses were higher than budgeted.
  2. Based on a membership fee of $45, about 220 paid memberships, and advertising (which has not been done in recent years).  There were 218 members in 2018.
  3. Non-member activity fees were increased from $5 / person to $10 / person.
  4. Any expenses related to the proposed 25th anniversary celebrations are covered by the participant fees.  Expected expenses relate to decorations, etc.
  5. Canoe rental fees were increased from $5 to $10 and apply to everyone on all but evening outings; no rental fees will be charged on evening outings.
  6. PayPal fees are 2.9% + $0.30 per transaction.  They apply to all memberships, activity fees, and rentals paid via our website, along with occasional other transactions.  The revenue shown is the gross revenue before PayPal fees are deducted.
  7. Due to a medical insurance claim this past year, our insurance rates were raised.  Ultimately, since the claim was within the deductible, the insurance company deemed it to be "no claim".  It is possible that we might be able to have our insurance rates reduced as a result; this needs to be investigated.
  8. To reduce costs and to potentially enhance the social aspect of the Volunteer Recognition Dinner, it was decided to have the dinner as a potluck dinner instead of a catered dinner, and to have it at someone's home instead of a venue at which rent would be charged.
  9. To reduce costs and to potentially enhance the social aspect of the annual barbecue, it was decided to make it potluck.  Money was allocated for soft drinks, etc.
  10. Since there was only one group trip last year, it was decided to budget for only a single trip this year.  To reduce the cost to the Club, it was also decided to set the participant fee to close to the actual cost, which is still very cheap compared to what an individual would otherwise pay to go to Mt. Tremblant.  Money was allocated to cover administrative costs.
  11. Room rentals and food.
  12. One of our background tasks is reviewing our possibilities for storage locations, so we allocated a small amount of extra money to explore possibilities.
  13. To provide more flexibility for 2019, potential on-going expenses related to the canoeing program were merged  into the "Miscellaneous - procurement & maintenance" category.
  14. One canoe and some related equipment were damaged or lost on a trip.  The executive estimates the value at $1200 (exact amount still to be finalized), to be reimbursed by the trip participants.  This is separate from the regular budgeted income for 2019.