ABC²: Amy's Bean Counting Corner

By Amy Aldrich, Treasurer

As this year’s League treasurer, I am thrilled to be your trusted “bean counter,” making sure every last penny is being raised, spent and saved in the manner it was intended. Although I spent my previous seven placements in community projects, this role is tapping into my passion: managing and tracking finances.

This passion started very early in my childhood when, in the fourth grade, I made a budget so I could track my revenue (babysitting, bake sales and car washes), my expenses (mainly dollhouse furniture) and my donations (the collection basket at church). My grandfather taught me the power of purchasing stock at age 8 when I selected Disney and McDonald’s as my first shares of stock (to this day, I still have them!). So that’s a bit about my background. Now on to important matters: the League’s finances.

Even with the continued turbulent economy, the League is off to a great fiscal start! We are already a League quarter in and have earned 33 percent of the revenue expected for our General Fund budget (click here to view the League's financials as of August 31, 2011). Collection of Membership dues and sales from The Shop led the charge in the League’s revenue through August 31, 2011. Thank you to all our members and congratulations to The Shop for a fantastic summer!

Now in its fourth year, the Finishing Touches Home Tour is expected to be another exciting event with expectations for a higher turnout and greater exposure with the community. Did you see the Home Tour committee’s video presented at the September General Membership meeting? After that, I AM FIRED UP! We hope you’ll be a part of it by underwriting, volunteering or attending one of the great events planned December 2-3. Right now, the committee is at 80 percent of their underwriting goal of $40,000. If every active member were to donate just $50, we’d not only meet but exceed that threshold! Stayed tuned for ticket sales starting October 1.

As it relates to expenses, the board has made cost reductions wherever possible. As of August 31, 2011, we are at 25 percent of budgeted expenses. The net income goal for the year – at the minimum – is to be at zero and not have to touch our reserves. Of course, we want to avoid any deficits and, if possible, end the year with a surplus while maintaining our commitment to the community.

Like last year, we have an ambitious budget to meet, so let’s work together to increase League contributions and save our financial resources without compromising our programs. You can actively participate to the League’s financial success this year through a variety of ways: bringing friends and family to the Home Tour, engaging your employer to underwrite, providing a gift to the Endowment Fund or making a donation to The Shop. Every little bit helps in a big way! Ultimately, the more money we raise and the fewer expenses we have, the more we can give back to our community.

Please feel free to contact me, our Finance VP Jovita Honor or President Meaux Costello if you have questions or comments about our financial position.