From tom at thesteinthals.com Mon Jun 11 09:51:28 2007 From: tom at thesteinthals.com (tom at thesteinthals.com) Date: Mon, 11 Jun 2007 09:51:28 -0400 Subject: End of Year Message / Next Year Targets for Resurrection Fathers Club Message-ID: The RFC had a great year this year, and we exceeded our financial targets for both our events, and were able to run at a surplus again. Our charter is to fund a significant portion of Middle School Sports, and we were able to do this in spades. For next year, we still need a couple of people to help with organizing the Carnival and the Beefsteak dinner. If you are interested in helping with either of these events, please let me know, and I'll add you to the list of volunteers. Looking to next year, we have established the following budget targets for the RFC. NOTE: as with the PTO, the RFC budget is now done through the Foundation. Expenses - Carnival - $10,000 - Beefsteak - $10,000 - Middle School Sports - $14,000 - Funding sports related capital projects (new hoops, new mats, etc.) - $30,000 Income - Carnival - $25,000 - Beefsteak - $25,000 - Draw from RFC account at Foundation (to cover capital projects) - $14,000 Bottom line, our target is a balanced budget. With that said, we informed the Foundation that we always face a risk that we cannot find volunteer coaches and need to hire coaches. This would mean our funding for Middle School sports would need to be around $42,000 instead of $14,000. >From a bookkeeping perspective, we transferred our checking account balance of $75,000 to an account with the Foundation. These funds were raised by the RFC to support the sports programs, and would be used to meet the short-fall in-case we need to hire professional coaches and/or if the capital needs exceed the funding available from this year's expected fund-raising. At the last Foundation meeting, Mr. Neilson requested a series of capital projects. The sports related projects were: new hoops in the lower school gym, new mats, and new scoreboards. These requests were all approved by the Foundation Board (in fact ALL of his requests were approved and we encouraged him to expand on several of his proposed ideas). Using some back-of-the envelope math, we will need closer to $30,000 to fund these sports related capital projects, and our transferred funds more than cover the requests. With this said, we are reaching out to the CYO parents to see if they would contribute to the hoops and scoreboards since they are heavy users of them - anything that is raised from the CYO parents will reduce the amount the RFC is giving. Lastly at the same Foundation meeting, a Foundation Board member asked Mr. Neilson why he did not ask for a turf field to be put in to replace the current dirt / grass field among his many requests. He detailed several reasons why he does not see this as the best use of funds at this time. Some of his reasons were: (1) he thinks this field will attract more people to the field and he is afraid of liability issues unless the field is properly secured; (2) he does not feel the size of the field will be useful for much (it is too small for soccer or baseball, as examples); (3) he thinks the parish's master plan might use that field for a relocated playground and the field might be built in some other location - although he recognizes that decisions in this area are slow in coming. ; and (4) he is very concerned with drainage in storms and the effect the field will have on that. Bottom line, even though we have the funds available from both the RFC and from the Foundation to fund a new field, he does not want it now. He does not want to spend money on a field and security and drainage now only to have something change in 2 or 3 years. If you are a supporter of having a turf field at Resurrection, we recommend that you let your support be known to Monsignor Boyle and/or Mr. Neilson. This will help them prioritize this potential project with the other potential projects they assess on a year-in-year-out basis. Thanks, Tom Tom Steinthal Tom at TheSteinthals.com (914) 659-2947 -------------- next part -------------- An HTML attachment was scrubbed... URL: http://www.resurrection-fathers.org/pipermail/rf-announce/attachments/20070611/e98a0ba3/attachment.html