Treasurer

From an asset perspective, we have about $7,000 in checking and $17,500 in the Money Market, so our short-term cash position is sound. There's another $116,000 in the Vanguard account, so we are strategically on solid ground as well.

I've done something new to the P&L report this month, exporting it to a spreadsheet for some additional analysis which you'll see on page two of the PDF. This is something I put together earlier this year (before the advisory committee decided G&A wouldn't be necessary) so it includes the possibility for adding a G&A assessment. It also has some simple assumptions around insurance. It estimates our total bill for 2016, splits that number up across the venues and then calculates the year-to-date insurance exposure based on the months expended. I can explain tomorrow night if anyone has questions.

Also, note that I am filtering out the Minstrel sound system contribution. We have now transferred the full $10,000 to MUF, which technically puts us in the red for the year. But since that money was never really ours philosophically speaking, including it distorts the picture of what's really happening.

A few other comments:

• Special Concerts is showing in the red because of advance payments made to performers for UkeFest. Both the Comas and Irish Mythen concerts turned a profit individually, of roughly $500 and $180 respectively.

• I'm guessing the Getaway was the most profitable in history, clearing over $4,000 even after its insurance is added in (and even after I opted to move boutique revenue into FP General). If anyone is interested, I can expand on that decision at the meeting.

• Swingin' Tern is also solidly in the black, although a good deal of its income is coming from Donations this year, many of which were made in memory of Joel Remde.

• The Minstrel is marginally profitable before the insurance allocation, and is in the red after insurance is accounted for. Note that Mike is calculating insurance based on actual attendance, so his numbers are more accurate than these. There's no way to do that in QuickBooks, though, and I think this sheet is close enough for budgeting.

• The Licenses & Permits line is ASCAP and BMI fees. Pam has been calculating them event by event, and Mark has approved these for the festival. Mike does this on a quarterly basis (which is how they get paid), so the Minstrel number only includes liabilities for Q1.

Happy to answer questions, if any.

Chris Riemer