Florida East Coast Chapter Associated General Contractors of America, Inc. Executive Committee Meeting October 26, 2017
We continue to have a strong financial year. Below are the important items from the August 31, 2017 Financial Statements:
We have collected $279,000 in chapter dues. This is 101% of our annual goal. YTD dues income is 8.0% higher than 2016.
The Fishing Tournament raised $75,000 and exceeded its budget by $10,000 (15%). The GolfTournament raised $45,300 and exceeded its budget by $5,300 (14.0%). The Clay Shoot is sold out and we project to meet or exceed our goal for this event.
As of August 30, 2017, our total Non-Dues Income is $23,500 over budget. Other areas of significant growth are Continuing Education $20,000 ($6,300 over budget), Supervisory Training $4,600 ($3,300 over budget), Safety Programs Income $9,500 ($4,200 over budget). These three items demonstrate that our Staff is doing a wonderful job of providing value to our members.
Our expenses are currently under budget by $6,300. Expenses include an unbudgeted legal expense of
$8,100, so majority of expenses are currently under budget. Only item of note is Personnel Expense is
$16,000 under budget due to staff changes. Balance Sheet:
As of August 31, 2016, we have $140,000 in the operating accounts and our cash reserves are $139,000. Conclusion:
With the steady membership growth over the past three years, we continue to have positive financial results and expect to remain ahead of budget through the rest of the year. As of August 31, 2017, our Net Income is $27,200 and $26,600 ahead of budget.