2021 Financial Statements
The following statements are preliminary and only cover the period through November 30, 2021. These may change significantly by the end of the year.
- Statement of Financial Position Nov 30 2021 (Balance Sheet)
- Statement of Activities Nov 30 2021 (Income and Expense)
- Statement of Cash Flows Nov 30 2021
2021 Financial Overview
- As of November 2021, our net income for 2021 was $5,410.59. This came from $11,481 of revenue minus $6,070 of expenses.
- We anticipate spending $5k-$6k on our two bonspiels this month. So by the end of 2021 we may actually have a small net cash loss.
- Our main income sources in 2021 have been membership dues and merchandise sales. We also earned a $781 rebate from SCCC for running summer leagues.
- We will earn an estimated rebate of $2,837 from SCCC for running fall leagues.
- Last year, we changed our accounting method from cash to accrual. This has allowed us to keep our $150k payment to SCCC on the books as a prepaid expense. Starting in July 2021, after the facility opened, we started to amortize this prepaid expense over 30 years at a rate of $416 per month.
- We have maintained a healthy cash balance of about $45k-$50k throughout the year. We have enough cash reserves to cover multiple years of overhead expenses and bonspiel costs. We need to increase our revenue if we do not want to operate at a loss year after year.