Hey everyone! We've got more Mentors! First Thursday of the month we hold a mentor night, anyone with less than 500 master points is welcome to come out and play with our experienced players. Great learning experience, come and sign up to play with a mentor. Sign up at the club, thanks!
September 17, 2016
Because we became incorporated as of April 1, 2016 I have three reports. The first shows our finances for 2015, that is January 1, to December 31. The second shows our finances for the first 3 months of 2016, that is January 1 to March 31. Our new fiscal year is from April 1, 2016 to March 31, 2017. The third is an update on the first 5 months of the new fiscal year. [All three reports are available from this webpage, see below.]
Gaylia has done a financial review of the first two reports and has OKed them. She has been given two months free plays for her work. Thank you Gaylia.
One thing that people forget is that we have to pay HST on all income. This includes table fees, monthly fees, $80.00 passes, books and saleables but not donations. Last year, January 1, 2015 to December 31, 2015 we paid CRA $6,816.71, a sizeable chunk of money. That year we had a gain of $11,673.71 even with all the upheaval with moving and dealing with RIOCAN. However, much of this gain slipped away when we finally settled with RIOCAN which explains the loss in the first three months of 2016. We are now solidly on our feet and show a gain in the first five months of the 2016/2017 fiscal year. If things continue as it has been I do not see any changes in our table fees or in the membership fee.
I also have given you copies of the “Statement of Worth” of the club. Our assets go down each month as I have been amortizing these assets.
Pat Briggs Treasurer