Clarification of Hunt Club H&S Finances

It has recently been brought to my attention that a post regarding the income and expendituresof the Hunt Club Elementary Home & School was made public on this website.

As the current Treasurer of this organization, I feel that clarification and facts need to be presented. The post specifically stated "[The Treasurer] has been able to keep the organization out of a deficit for the first time since they were formed."

First of all, no one person keeps an organization out of debt. The Hunt Club Home and School Organization is made up of a host of parents, teachers, and community members that work tirelessly to support our students. I can not say thank you enough for their support. Without it, there would be no organization and our students would miss out on so many opportunities. Thank you to all.

The other part of the comment previously posted that I need to address is the use of the word deficit. The word has been correctly used, but not correctly placed in to a meaningful context for those not intimately aware of the organization. 

So, I would like to explain further the financial condition of the Hunt Club H&S. Since this is a public non-profit, it is appropriate to offer such here.

In 2009, Eastview Elementary school closed their doors and Hunt Club Elementary opened in the Fall. At such time, the funds belonging to the Eastview Home & School were transferred to Hunt Club; possibly in entirety, but this was before my time so I only have budget reports to work off of.

The total amount that Hunt Club Elementary started their inaugural year with was $39,782.60. An electronic copy of the actual vs. proposed budget is not available to me at work, but I will post an update to these numbers if requested.

Based on the proposed budget numbers, the following was reported. The Home & School would raise $15,874 during the course of the 2009-2010 school year. Thus bringing a total income line to $55,656.60.

The total of all expenses for the 2009-2010 school year reported on the budget report was $30,416.00. This is where the phrase "operating in deficit" comes into play. Whereas the H&S certainly had the funds to pay for $30,416 dollars in expenses, the organization only raised $15,874 during the year, therefore $14,542 of the carry over from Eastview was used to run the programs and purchase the resources requested for the year. Thus, it would be correct, in the accounting sense to say that the organization operated in a deficit for the year.

During the 2010-2011 school year, the following was reported on the budget reports as actual income and expenditures. Starting Balance $24,740.60 (The organization also had a $10,000 CD, not included in this starting balance). Income Raised: $17,106.00Total Expenses: $27,028.55As mentioned for 2009-2010, the same equation can be used here.

The organization during the 2010-2011 school year operated at a $9,922.55 deficit. During the 2011-2012 school year, the following has been reported on the budget reports through the April meeting as actual income and expenditures. Starting Balance: $24,818.05 (The $10,000 CD was cashed-out by the 2010-2011 Board and is included in this starting balance).I ncome Raised: $21,334.50 Total Expenses (through April 6th): $8,029.31 Forecasted Expense Total (as presented at the April Meeting): $20,744.00

The reason for the large difference between known and forcasted expenses is due to the teacher grants still awaiting purchase/billing, field day expenses, and several other budget categories.

As a Treasurer, I placed each expense category, known to have expenses for the year, at their maximum line item expenditure for the forecast model.  Using the forcasted projection, and following the same equation as in the two previously outlined years. Total income raised - Total Forcasted Expenses ($21,334.50 - $20,744.00) leaves the organization with a profit on the year of $590.50.

Again this number will change as expenses are submitted for reimbursement, but should only increase as a profit since the forecast maximizes each expense item known to have been utilized for the year.

I can not stress enough that the posting of this information is not to be construed as an attack on any member of this organization past, present, or future. We are all a team working to provide resources and opportunities to our teachers, parents and students. This should always be the main goal of this organization.

Also, while there was a deficit for two years, this does not mean that the organization did anything wrong. Start-up expenditures were necessary and arguably unavoidable.

As an organization, we only have a responsibility to review such data to help inform for the next year, and recognize that responsible spending and concerted efforts at active fundraising are the only ways we will be able to keep this organization going in the future so that we can continue to provide opportunities for our students and resources for our teachers.

The only purpose of this post is to present the factual financial data as known to me, and as reported. I apologize for any prior statements that caused confusion and descent that were posted to the Patch, and hope that each and every person reading this post has gained a better understanding of the true financial status of the Hunt Club Home & School Organization.