Our balance before the meeting was approximately $8.
At the May 2018 Meeting, we signed up/renewed 8 members in total, of which one was a new member bringing in $200 total. We're still expecting two more renewals which will bring us to $250 total.
I made out a cheque from the PLUG account to Applewood to cover the last couple of meetings we had for $50 in total (March 2018 and May 2018).
We need $299 to meet our expenses to (and including) April 2019:
- $225 meetings from June 2018 - April 2018 inclusive (no meetings in July or August)
- $24 for the bank service fee
- We didn't have enough members sign on last year so we were a bit short meaning we took $42 out for this month's and March's meeting)
So this means we need about $99 more, $50 of which we expect by next month. We need to sign on two more members to be solvent.
I will continue to host the club's website and forums since I will be hosting my personal site anyway and it doesn't cost me anything extra to host PLUG.
It does cost extra for the additional domain name and SSL certificate (estimated about $25-35) which I'm okay with for now. Perhaps if we bring in more next year the club can buy their own domain name/SSL certificate or I can be reimbursed for those fees.
Hopefully, this makes sense. We're in okay shape for now but next year we should seriously consider raising membership fees $5-10.
I would prefer the more-member solution, but if we don't get them, I have no problem with increasing the fees to cover our costs. What other club do you know of that can operate on $300 annually?
Thanks for providing the update on the PLUG finances, Jason!
Yes, I think we need to at least, increase the membership dues from $25 to $30 for the year membership.
It would be nice to actually develop a bit of a balance/buffer in the PLUG account, in case we need some extra cash, sometime for some reason.
I recently went to the CIBC bank branch, in the Lansdowne Place Plaza to see about lowering the charges of $2/month that were be charged to our Amateur Radio Club account.
They switched the Club account from a bank book account, to one were a statement is mailed out once every 3 months and the service charge is now only 75 cents/month.
Maybe you can inquire at the Kawartha Credit Union, to see if they will match the CIBC pricing?
Bill
Quote from: ssfc72 on May 11, 2018, 09:02:19 AM
I recently went to the CIBC bank branch, in the Lansdowne Place Plaza to see about lowering the charges of $2/month that were be charged to our Amateur Radio Club account.
They switched the Club account from a bank book account, to one were a statement is mailed out once every 3 months and the service charge is now only 75 cents/month.
Maybe you can inquire at the Kawartha Credit Union, to see if they will match the CIBC pricing?
I'll give them a call. They mail out a statement out now but they didn't reduce the fees when they did, but it's monthly. Thanks for the info.
Jason ...though I don't attend the monthly meetings I do receive value from the website forums so I would be willing to reimburse you for the domain name/ certificate costs as my contribution to the group.
Quote from: dougal on May 12, 2018, 11:43:40 PM
Jason ...though I don't attend the monthly meetings I do receive value from the website forums so I would be willing to reimburse you for the domain name/ certificate costs as my contribution to the group.
Thanks for the offer, Dougal! I'll double check on the costs and get back to you.
We received two renewals tonight for a total of $50. Thank you!
There is one expected renewal remaining. We need 1-2 more members beyond that to meet our financial obligations.
I talked dougal into getting a membership instead of reimbursing me so now we're only down one, and that guy better renew soon. You know who you are! ;-)