Draft of FY09 Financial Report

Here are two reports on the branch finances for its first fiscal year:

• FY09 Quick Summary (just the high points)
• FY09 Cash Flow (more details)
• FY09 Account Balances

Both document that the branch has a balance of 187.68 at the end of the year.

If you want to see the detailed list of transactions that show the break down of the figures on the cash flow statement, let Nancy know.

We are looking for a volunteer to review the financial records to confirm that these reports match the records and the list of transactions. If you are near Raleigh and want to do this later in the month (after we receive the bank statement), please let Doris or Nancy know.

See also other posts on branch finances.

Thanks to AAUW, AAUW NC and the following members for contributions to the branch during its first year:

Patsy Abell, Statesville
Judy Atkinson, Winston-Salem
Doris Bernlohr, Burlington
Judy Hallman, Chapel Hill
Birgit Pauli-Haack, Naples, FL
Mary Fran Schickedantz, Greensboro
Nancy Shoemaker, Raleigh
Queen Thompson, Charlotte

Proposed budget

Our budget for 2009-2010 is fairly simple. We haven’t built up a reserve and the $5/person dues won’t kick in until after July 1.

We are still encouraging members to donate to the branch to strengthen our financial position and give us some leeway if a new project comes up that the board wishes to fund. For now, though, any significant project will need to include a funding plan to cover any of its expenses.

Branch assets 4/3/09: $210.00

Expected net expenses through 6/30/09: $25 (copying materials to explain the branch at the AAUW convention)

Proposed budget 2009-2010

Income
Branch dues	50.00
Branch donations	100.00
Total income	150.00
Expenses
Marketing	80.00
Administration	35.00
Contingency	35.00
Total expenses	150.00

Other line items may appear on the branch cash flow statement:

• pass through payments to AAUW and AAUW NC. This represents the cash flow that the branch controls
• donations/expenses for special community or project groups

Last year the branch received $150 donations from individuals.The $100 estimate is a conservative one.

“Marketing” includes a projected test mailing to members-at-large as well as outreach to the NC branches to explain this new branch.

“Administration” includes PayPal fees for new members joining online and the costs of occasional mailings to reach the branch members.

Members are asked to comment on this proposal. The 2009-2010 budget needs to be approved by the board.

Treasurer’s report for 4/30/09

Here are the financial reports as of 4/30/09. If you want to see the transaction details, please let me know.

Account Balances 4/30/2009

Cash Flow FY09 as of 4/30/09

Financial statement

AAUW Tar Heel Finance Report – 3/24/09

Notes on this report

1. Two members have pre-paid 2009-2010 dues. Those will be sent to AAUW and AAUW NC the week of April 1. $120 total.
2. We purchased pins and pens from Shop AAUW and ordered a number of the free brochures. $5 was charged to (and reimbursed by) the Alamance County community group to provide “Ask me about AAUW” pins for their work at the upcoming Herb Festival. The brochures will be available at the annual meeting on Friday — with some reserved for explaining the branch to representatives of campuses across the state who have been invited to a meeting on April 3. [Branch members Sheila, Mary Fran, and Nancy will be participating in that.]

If you have any additional questions, please post here or contact the treasurer, Nancy Shoemaker.

Initial branch financial report

The branch was chartered in November 2008 and opened a checking account and a PayPal account in December 2008. The intent is for all funds to be transferred from PayPal to the checking account by the end of each month. The accounts are, however, kept separate to allow for better tracking of information on individual transactions.

• Summary of Income/Expenses FY09 as of 1/31
• Account Balances as of 1/31/09

Notes:

• New members joining under the 18-month plan are charged $65.50. $49 covers AAUW dues through 6/30/10, $5.50 covers AAUW NC dues through 6/30/09, and $11 is for AAUW NC dues for 6/30/09-6/30/10. In the income report, this is split as $24.50+5.50 ($30) for the current year (FY09) and $24.50+11 ($35.50) for the following year (FY10), though of course, the entire amount is an FY09 expense for the branch.
• Donations to the branch include $50 from AAUW, the grant to a new branch, and $145 from branch board members.
• Donations to the branch before it was chartered (including about $250 to print and distribute the initial brochure) are not reflected in this report.

For a copy of the detailed transaction report or if you have any other questions, please contact treasurer@tarheel.aauwnc.org.

Donate to the AAUW Tar Heel Branch

During 2008-2009, the branch is not charging dues to cover branch operations — it is, instead, depending on donations from those who believe in this new model. During July-November, 2008, expenses were approximately $250 for 200 copies of the brochure and postage to distribute the brochure to prospects across the state. Again, these expenses were covered by donations.

Over the next couple of months, we will have discussions on whether or not we can continue in this mode and what other sources of revenue might be available to us. Dues (if any) for 2009-2010 will be approved at the March 27 annual meeting. In the meantime, if you wish to ensure that the branch gets started on a firm financial basis, please consider a donation to its operating fund.

You can donate online:

or send a check payable to “AAUW Tar Heel Branch” to
Nancy Shoemaker, Treasurer
7009 Jeffrey Dr.
Raleigh, NC 27603

Any amount is welcome — $5 covers the credit card processing fee for a new member and the postage and printing to send you a couple of updates through USMail. $50 will help build a fund to write to members-at-large about the branch with the hope that if they join the branch it will strengthen their connection to AAUW and strengthen the organization overall.

Small or large amount – it all will make a difference in our capacity to provide this new kind of network for AAUW members.

Thanks!