Treasurer

From: Chris Riemer <jcriemer@gmail.com>

Sent: Monday, December 03, 2018 3:48 PM

To: 'Folk Project' <fullboard@folkproject.org>

Subject: Treasurer's Annual Report

Greetings, folks -

Here is my more elaborate year-in-review offering. I plan to bring maybe 10 copies to the meeting, but they're intended for people who are not in this distribution. So if you want to refer to it, please print a copy and bring it with you. Note that this is a 12-month view that runs from 12/1/2017 to 11/30/2018, so we have a full year to consider. I hope it's self-explanatory, but here are a few comments.

Page 1 - Total Income and Total Expenses

On the Income side, the Other Income number includes some non-standard things like Silent Auction proceeds from Uke fest, as well as some bookkeeping adjustments for Swingin' Tern. Donations includes both literal donations, as well as food income from Minstrel and Swingin' Tern. Donations at the venue level have again pushed us over the $10K threshold that requires an additional bit of paperwork in Trenton. And you'll see that Concert Window is proving to be quite a worthwhile contributor to the big picture. That's what's in Admissions (Virtual).

On the expense side, no surprise that we spend most of our money on Performers and Rent. Beyond that, we're a lean, mean music machine. It may seem odd that we have categories for both Misc Expenses and Other Expenses, but it's something that was requested by Mike. One includes odds and ends that are attributable to particular show, and the other are odds and ends that should be spread across the Minstrel's entire year. I tend to forget which is which, but I believe the Treasurer should accommodate venue requests, within reason. And it may seem odd to have "Other Fees," but that's because in the Chart of Accounts there's also a line for Professional Fees. We did not incur any this year. What's in the Other Fees bucket is mostly PayPal, as well as some odds and ends of Wells Fargo charges.

The totals reflect actual monies in and monies out, but will not net out to the operating income in the green box. That's because Getaway's expenses are reduced in the P&L by an internal subsidy. Trying to include that in the pie charts is too confusing, so the $6,080 is what you'd see in our Profit and Loss report.

Page 2 - Departmental Comparison

As usual, Getaway has the largest footprint, although Concerts is the most profitable activity. The surprise here is General, which is usually closer to break even. The income in General is being driven by an ACMA Grant, Donations, and Dues revenue. The Admissions from Valentine's Day, Summer Songs, the Halloween Show and the Christmas Concert would also be in this bucket.

Page 3 - Cash Positions.

The first graph includes the Checking Account, the Money Market account and Petty Cash, and you can see the Getaway effect in its obviously spikey nature. Money comes in for the two months prior to a Getaway weekend, and then gets spent in May and October. The red dotted line shows that we were trending slightly downward over this period, reversing the trend from last year. The bottom graph shows the value of the Vanguard fund, which also has a small downward trend. To a degree that's a reflection of a withdrawal from Vanguard to fund the investment in HSNOI hardware.

On the whole, I would say 2018 was an OK year. Not as good as last year, but nothing to be ashamed of. We made some strategic investment decisions (HSNOI, OpenStage) and are optimistic about the outcomes.

Regards,

Chris

Chris Riemer

Treasurer

The Folk Project

www.folkproject.org