FINANCIAL UPDATE

May 9, 2008

Hello to the Evergreen Hurricanes Membership.  I would like to update everyone regarding the financial status of the team.  First of all, we have successsfully completed the transition of all our accounting needs to the local firm of Valentine Seevers.  They have worked diligently with me to  be sure they have everyone’s correct e-mail address, to add new members, gain an understanding of our fee schedules, distribute our invoices, take care of all our tax filings, and prepare the financial reports we need.  While they are handling all the billing and reporting, members should continue to address any questions or concerns to me.  Please feel free to contact me at any time, either by phone or e-mail. 

 All of the meets we hosted for the 07/08 season ended in a profit for the team.  These meets are our only source of fundraising income beyond the $175 fundraising donation required of each family at the time of registration. We appreciate everyone’s hard work and generosity which has contributed to our success.

On the advice of our accounting firm, we will be changing the way you are billed for meets. Since the team has to pay for meet entries in advance (and it is usually a large sum of money) we will be billing members at the time that the meet entries are submitted.  For accounting reasons, I ask that you pay your invoices in full and as soon as possible after receiving them.

On a final note, I am excited to report to you that the current financial status of the team is very strong, due primarily to our high membership numbers (62 short course and 44 summer).  We foresee ending our fiscal year in August with all current and past invoices paid in full, and a positive carryover balance in the bank of some $3,000.  We look forward to an even better year in the 2008/09 season.

 
Sincerely,

Caryn Pearson
Treasurer, Evergreen Hurricanes Swim Team
Email: peasoncabin@earthlink.net

Telephone:  303-670-3957