OSCA Financial Report – April 2017 Presented June 2017
- Revenue in Adult programs are slightly lower than last year due to lower enrollment. Christy has met with all instructors to discuss any issues and concerns with programming, proposals and changes for the Fall and some important changes will be initiated. One reason for lower adult yoga and pilates registrations is the lack of convenience with drop in’s and many client’s inability to commit to full sessions. Alternatives are being discussed with the Program Committee.
- FFC is on par with budget. We changed the opening hours to 8:00AM as of June 1. There was only one complaint. Results of the FFC survey have been submitted to the group reviewing.
- Decrease in Children’s program revenue is due to changes in the dates for deposits and final payments. Summer camps are low for the JKSK groups (EBTKS). Sarah has been increasing promotions.
- We will be working on increasing Youth Programs and Birthday Parties to increase revenue.
- Program expenses have decreased in line with lower revenue.
- Christy has been reviewing expenses and there will be further adjustments made.
- General and Admin Expenses will be monitored carefully and need to be significantly reduced.
Cash in bank:
- At April 30th, OSCA had $323,000. There are no cash concerns.
Forecast to December:
- A forecast will be presented in the Fall. Christy has found a volunteer to work with her on this. We do still need a member of the Board to act as the Treasurer.
Reserve Fund Balances
- Operating Reserve fund- $318,509- current unrestricted and future surpluses- restricted to 9 Months’ worth of operating expenses.
- Community reserve fund- $103,500- atlimit
- Capital Asset Reserve fund- $50,000- atlimit.
- Community Planning Reserve - $48,500- limit is $50,000
Last modified on Tuesday, 20 June 2017 14:04