Finance Manager Report
Membership has decreased this program year. As of 4/26/23, we have 1,975 paid memberships. This is down from 2,194 at the end of the 2022-23 program year.
Total revenues are down by ~ $1577. This is partially offset by ~ $494 donation revenue that was received from another district that closed.
In terms of expenses, our expenses are under budget in total by ~ $4k. The largest area is Club Growth which is under budget by $2,328. The plan for the remainder of the year is to provide incentives for open houses using the club growth budget.
The Marketing Outside of Toastmasters shows over budget by ~ $1129 for the revamp of our website that was budgeted over 12 months, but has been fully paid. By the end of the year this should be in line with the budget.
Lastly, Toastmasters International has used $17,477 of our reserves to pay for 2 projects – Member Self-Pay and Enhanced Learning Management System (Base Camp). This amount represented 50% of our excess reserves over 1.25 times our retention amount. It was a decision made at the International level that we were informed about in November and was taken as of our February TI statement.
District65_2021-2022 Reallocation Calculation