|
|
|
To all Warrington Warwick Boys Basketball families:
As a follow up to the board's email from March of this year, below you will find a financial summary for the 12 months from August 2010 through August
|
INCOME |
|
|
Registrations |
109,609.48 |
|
Sponsors, fundraising, other |
4,868.01 |
|
Refunds |
(3,075.88) |
|
Total Income
|
111,401.61 |
|
EXPENSES |
|
|
Gym rental |
52,135.00 |
|
Referee fees |
33,183.66 |
|
Uniforms and shirts |
17,693.40 |
|
Insurance |
3,961.14 |
|
Equipment, trophies |
4,038.38 |
|
Travel team expenses |
4,762.85 |
|
Other |
1,110.02 |
|
Total Expenses
|
116,884.45 |
|
Net Income (Loss)
|
(5,482.84) | | |
|
We were able to absorb the $5,000 loss as we had a small cushion in our bank account after receiving restitution from the theft of funds (as detailed in the March email). However, we will not be able to absorb another operating loss this year.
To address our operating loss, the board will make a more concerted effort to attract team sponsors and we will be launching some other fundraising activities. We ask that you consider sponsoring a team, if possible, as well as supporting the new fundraising opportunities as they are introduced over the coming months. We also anticipate eliminating a few minor expenses without jeopardizing the quality of the program. However, if the fundraising/sponsor income is not significantly elevated this year, the contingency plan is to shorten the season by one or two weeks to save on gym rental and referee fees as we cannot afford to run another deficit this year.
On top of the loss from last year, Central Bucks School District will be raising the rates we pay to rent the school gyms this year. The new rates are $55 per weekend hour and $20 per evening per gym on weeknights – both are increases of $5 over last year's rates. Based on last year's usage, the additional cost will be approximately $5,500. Due to their rate increase, we have no choice but to raise the registration fee by $10 per participant.
As we detailed in our March email, there will be a new refund policy in effect. All refunds requested prior to November 1 will be assessed a $25 fee. There will be no refunds after November 1.
The board has welcomed 6 new members this year – many of them responded to our March request for volunteers. We are confident that the current board will be able to meet the challenges this year with the help of all of the families involved with WWBBA.
We thank all of you for your continued support and look forward to another fun and successful basketball season. | |
|
| |
News & Events
