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2nd Quarter Financial Statements

Published by sandymcq, 2019-10-16 21:17:24

Description: As at 30 June 2019

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2nd Quarter Financial Statements As at 30 June 2019 Alexander McQuarrie, Treasurer


CONTENTS This document contains three parts as follows: • A Statement of Financial Position; • A Statement of Operations; and • A Year-to-Date Budget Statement. BANK BALANCE 30 June The bank balance on 30 June was $6,619.65 27 July The bank balance on date of publication (16 Aug 2019) was $9,803.69. The major difference is the amounts collected as donations for the Afghanistan Memorial Project since 8 July. A.D. McQuarrie Treasurer The financial details in the document are based on financial statements provided by the Bookkeeping Bureau. Page 1 16 August 2019


Statement of Financial Position (as at 30 June 2019) Jun 30, 2019 May 31, 2019 Assets 1000 Bank Account 6,619.65 6,265.60 1100 Accounts Receivable 475.00 Total Assets $7,094.65 $6,265.60 Liabilities and Net Assets Liabilities 1 2000 Accounts Payable 556.80 0.00 Total Liabilities $556.80 Opening Balance Equity 16,654.55 16,654.55 Surplus / Deficit for Year -9,672.90 -10,388.95 Total Liabilities and Net Assets $7,537.65 $6,265.60 Treasurer The RCR Association 1 The liabilities include three cheques written in June to support the AGM. The amounts will be recognized as expenses in the next quarter. Page 2 16 August 2019


Statement of Operations (1 January to 30 June 2019) Apr - June 2019 Jan - Mar 2019 INCOME 4000 Membership Dues 4010 Regular Members Annual Fee $1,125.00 $625.00 2 4011 Regular Members Lifetime Fees $1,550.00 $2,300.00 Total 4000 Membership Dues $2,675.00 $2,925.00 4200 Donations $100.00 Total Income $2,775.00 $2,925.00 EXPENSES 6000 Promote a Unified Regimental Spirit 6010 Branch Activities Promotion $1,210.00 Transfer of 2018 Membership Fees $11,700.00 Total 6000 Promote a Unified $1,210.00 $11,700.00 Regimental Spirit 6200 History, Heritage, Tradition & Values 6210 Historic Celebrations 6212 National Events $500.00 Total 6200 History, Heritage, Tradition & Values $0.00 $500.00 6300 Institutional Stewardship 6350 AGM Support $0.00 $0.00 Total 6300 Institutional Stewardship $0.00 $0.00 6400 Other Operation Expenses 6410 Bank & Service Charges 6411 Bank Service Charges $22.35 $26.85 6412 Bambora Service Charges $89.79 $62.76 6420 Software Expenses 2 This figure includes the $475 in Accounts Receivable for annual fees outstanding Page 3 16 August 2019


Apr - June 2019 Jan - Mar 2019 6421 License Fees 6422 Maintenance Fees $46.70 6440 Office Expenses $165.76 6450 Professional Fees $847.50 6460 Travel Expense $588.19 Total 6400 Other Operation Expenses $1,125.40 $724.50 Total Expenses $2,335.40 $12,924.50 Net Income (Loss) $439.60 -$9,999.50 Treasurer The RCR Association Page 4 16 August 2019


Year-to-Date Budget 3 (1 January to 30 June 2019) 2019 2nd Qtr (Jan ACTIVITY DIFFERENCE BUDGET to Jun) INCOME RESTRICTED CONTRIBUTIONS RCR Association Education Bursary $10,000.00 $0.00 $10,000.00 Service and Assistance Fund $6,000.00 $0.00 $6,000.00 Purchase and distribute Pro Patria (500 @ $5 plus mailing) $3,600.00 $0.00 $3,600.00 Website annual license fee $2,400.00 $0.00 $2,400.00 Website support fee $500.00 $0.00 $500.00 Restricted Contributions Total $22,500.00 $0.00 $22,500.00 GRANTS RCR Association Support Fund $16,865.00 $0.00 $16,865.00 Grants Total $16,865.00 $0.00 $16,865.00 FEES AND DONATIONS Regular membership (A) ([email protected]$25) $3,750.00 $1,275.00 -$2,475.00 Regular membership (P) ([email protected]$225) $2,250.00 $3,850.00 $1,600.00 Donations and other $500.00 $100.00 -$400.00 Fees and Donations Total $6,500.00 $5,225.00 -$1,275.00 REVENUE TOTAL $45,865.00 $5,225.00 $38,090.00 EXPENSES RESTRICTED CONTRIBUTIONS EXPENDITURES RCR Association Education Bursary $10,000.00 $0.00 $10,000.00 3 This YTD Budget is based on the budget approved by the members at the 2018 AGM. There are some minor differences in wording to reflect the latest By-Law terms and definitions. Page 5 16 August 2019


Service and Assistance Fund $6,000.00 $0.00 $6,000.00 Purchase and distribute Pro Patria $3,600.00 $0.00 $3,600.00 (500 @ $5 plus mailing) Website annual license fee $2,400.00 $0.00 $2,400.00 Website support fee $500.00 $0.00 $500.00 Restricted Contributions $22,500.00 $0.00 $22,500.00 Expenditures Total PROMOTING A UNIFIED REGIMENTAL SPIRIT Mandated travel to branches $0.00 $0.00 $0.00 Branch membership rebates $1,500.00 $1,850.00 -$350.00 Support to ROIC and RSNCOIC $500.00 $846.49 -$346.49 4 Branch activities support $3,000.00 $0.00 $3,000.00 5 Promoting a Unified Regimental $5,000.00 $2,696.49 $2,303.51 Spirit Total ASSIST ROYAL CANADIANS IN NEED Establish and maintain liaison with $500.00 $0.00 $500.00 legitimate veterans' organizations Assist Royal Canadians in Need $500.00 $0.00 $500.00 Total CONTRIBUTE TO THE PERPETUATION OF REGIMENTAL HISTORY, HERITAGE, TRADITIONS AND VALUES Celebrate regimental historic events $1,200.00 $0.00 $1,200.00 and accomplishments Recognize and remember our fallen $0.00 $0.00 $0.00 Contribute to the sustainment of the $1,000.00 $0.00 $1,000.00 Regimental Museum Contribute to the perpetuation of Regimental History, Heritage, $2,200.00 $0.00 $2,200.00 Traditions and Values Total EXERCISE INSTITUTIONAL LEADERSHIP Contribute to regimental governance and management 4 Unbudgeted but Board approved. Includes reception grant of $500 and travel to Gagetown by the Chair 5 This item is in the 2019 budget, but not in the 2020 budget Page 6 16 August 2019


Conduct AGM $2,000.00 $0.00 $2,000.00 Deposit membership fees in the $6,000.00 $11,700.00 -$5,700.00 Trust Mandated travel to attend Senate meetings $300.00 $241.70 $58.30 Mandated travel to attend REC $300.00 $0.00 $300.00 meetings Mandated travel to attend RCR $200.00 $0.00 $200.00 Trust meetings Mandated travel to attend RCR Museum meetings $400.00 $0.00 $400.00 Promulgate and comply with approved by-laws Legal fees and disbursements $1,500.00 $0.00 $1,500.00 Elect and sustain an effective Board of Directors Conduct Board of Directors $400.00 $0.00 $400.00 meetings Directors' insurance $750.00 $0.00 $750.00 Establish and sustain an effective Executive Secretariat Executive Secretariat operations $300.00 $134.20 $165.80 Bookkeeping services $65.00 $847.50 -$782.50 Bambora service fees $0.00 $151.43 -$151.43 Bank fees $300.00 $29.70 $270.30 Equipment rental $500.00 $0.00 $500.00 Hardware purchases $300.00 $0.00 $300.00 Printing $400.00 $0.00 $400.00 Office Supplies, Stamps, etc. $350.00 $31.56 $318.44 Executive Secretariat contingency $300.00 $0.00 $300.00 Develop and maintain Associations communications infrastructure Promulgate and implement a fully resourced 5-year strategic plan Conduct planning session $1,000.00 $0.00 $1,000.00 Page 7 16 August 2019


Engage in forward-looking development planning Conduct Honorary Advisory Council $300.00 $0.00 $300.00 Meeting Exercise Institutional Stewardship Total $15,665.00 $13,136.09 $2,528.91 EXPENDITURES TOTAL $45,865.00 $15,832.58 $27,832.42 BALANCE $0.00 -$10,607.58 $10,257.58 Treasurer The RCR Association Page 8 16 August 2019


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