ANNUAL MEETING
FISCAL
YEAR 2008 TREASURER’S REPORT
The
Rehoboth Bay Foundation’s Fiscal Year 2008 began on
As
of the date of this report,
INCOME: In FY 2008, the Foundation received $2,202 of
income. Of this amount, $1,310 was from
cash donations received and $892 was from the sale of donated boats and
trailers. In comparison to the prior
Fiscal Year, this year’s cash donations were $368 less (FY 07, $1,678). The amount realized this Fiscal Year from the
sale of boats and trailers that had been donated to the Foundation was $1,522
less than last year (FY 07, $2,414). Overall,
FY 08 income was $1,890 less than the prior FY.
EXPENDITURES: Expenditures for FY 08 totaled $1,978 of
which $1,600 (81%) was for grants awarded by the Foundation and the remaining $378
(19%) was for various operational and administrative expenses. It should be noted that the Foundation had
planned to award an additional $600 this FY, but one of the budgeted projects
(RBSA Deserving Student Sailing Program) had no students enrolled this year. The
details and recipients of the Foundation’s awarded grants are addressed in the
Foundation’s President’s annual report to the membership.
REPORT: The attached Income & Expense report
by Category provides both FY 2008 details by budget category and a
comparison with FY 2007.
Subsequent
to this meeting, the RBF Board of Directors will formulate the Foundation’s FY
2008 budget.
Respectfully
submitted,
Secretary/Treasurer