RMMHA 2008-2009 Treasurer’s Report

Financial Results

Financial Results are presented as of March 31, 2009 with comparative figures to June 30, 2008. Some 2009 expenses will come in over the next while to modify the final results for 2009.

The 2008-2009 season was definitely an exciting one for the Association. Total registration revenues were down slightly and fundraising revenues were lower with the elimination of some events. The Canteen sales were strong despite the loss of several tournament days during the year which also impacted our tournament revenue numbers. Grants and donations include the Trillium grant we received late in 2008.

On the expenditure side, ice rental costs came in similar to last year but with a marked reduction in tournament ice. Equipment costs reflect the purchase of new jerseys as well as a goalie and other equipment under the Trillium grant. Tournament expenses include the purchase of trophies that were not used this year and will carry forward to reduce next year’s expenses. Canteen expenses are as expected and in-line with Canteen sales.

Net Canteen contribution is approximately $22,000 including $11,650 from canteen buy-out fees.

The overall deficit of $24,360 for the year has reduced the cumulative members’ surplus from $46,428 to $24,483 at March 31, 2009. It is the Board’s intention to maintain a cumulative surplus of $20,000 as a buffer for unexpected expenses or loss of revenues.

Cash position at March 31, 2009 was approximately $51,000 with approximately $27,000 in outstanding bills from the end of the season including the March payment for ice to the City. The Association maintains a GIC account with Scotiabank and that balance was $20,810.71 at March 31, 2009.