RRCUS Treasurer’s Report

May 23, 2007

Summary: Overall RRCUS had a good financial year with a gain of $13,400 driven by solid proceeds from the Utah National Specialty and efforts throughout the organization to control costs. The results are somewhat overstated, however, as about $5,100 owed to CHF and Rescue for the 2006 dues check off has not yet been paid. The gain of over $8,000 is a welcome reversal of trend from the last four years of substantial losses.

Respectfully Submitted,

Chris Abraham

Treasurer

Table of Contents

2006 Income Statement...... 1

End of Year 2006 Balance Sheet...... 3

Membership Renewals...... 3

Checks over $4,000...... 4

Budget...... 4

Budget Spreadsheet...... 5

Attachment A Specialty 2006...... 6

Attachment B Publication expenses 2006...... 7

2006 Income Statement

Overall RRCUS had a good financial year with a gain of $13,000 driven by solid proceeds from the Utah National Specialty and efforts throughout the organization to control costs.

Dues income, the largest income element was about the same as prior years but several other categories showed improvements. The 2006 Specialty generated $9,000 this year but costs from past and future specialties reduced the net gain to about $6,500.

Other income improvements included profitable coursing and increased interest income due to purchase of a $50,000 CD from our bank. In addition, revenue from the Purina food weight circle plan continued to grow with $738 going to general funds and CHF. Ridgeback appetites continue to grow and Purina revenue for 2007 is now about $900. The total income results are somewhat overstated, however, as about $5,100 owed to CHF and Rescue for the 2006 dues check off has not yet been paid which is usually done in the year of the check off.

Cost control and project delays helped to reduce overall costs by $5,000 from last year. In addition, last year we donated $2,500 to hurricane relief efforts which was not needed this year. Advertising is mostly the $438 to fabricate and ship the meet the breed’s material for the Eukanuba dog show. Board expenses dropped mostly due to timing of payments related the January meeting and conference call phone charges dropped by half as a number of contentious issues required less board discussion. Card fees continued to increase as use of credit cards at specialties, for dues, and other buying increased. Also supporting the online store cost about $600 for the credit card account. Committee expenses are understated because printing of the puppy pamphlet is buried in publication costs. This year we were hit with the need to fabricate both bronze and silver medallions. This occasional expense means we have an adequate inventory for about 5 years. In 2007 we have also already paid about $3,000 for fabricating additional medallions for championship awards.

Once again, the largest overall expense relates to publications amounting to about $23 per membership unit. Strong cost control and advertising promotion by the publications team suggests that costs per membership unit will be reduced in 2007.

Income Statement-2006

CategoryDescription
INCOME / EXPENSES
CHF-RRDAF Donation / $2,515.00 / Ads / $508.87
Rescue Donation / $2,589.45 / Annual Meeting / $794.28
Coursing / Bank Charge / $186.68
TOTAL Coursing / $392.18 / Board Expenses
Dues / TOTAL Board Expenses / $3,642.47
Dues 2006 / $21,151.10 / Card Fees / $1,495.98
Dues 2007 / $19,920.00 / Committee Expenses
TOTAL Dues / $41,071.10 / Education / $1,794.73
Interest Income / $1,104.25 / Health / $3,226.59
Other Inc--Purina / $737.61 / Historian / $264.38
Specialty 2005 / Performance / $399.00
TOTAL Specialty 2005 / -$506.70 / Statistics / $269.00
Specialty 2006 / TOTAL Committee Expenses / $5,953.70
TOTAL Specialty 2006 / $9,050.83 / Dues and Subscriptions / $110.00
Specialty 2007 / Insurance
TOTAL Specialty 2007 / -$993.04 / TOTAL Insurance / $1,906.00
Specialty 2008 / Medallions
TOTAL Specialty 2008 / -$1,000.00 / TOTAL Medallions / $3,527.02
Specialties Overall / $6,551.09 / Misc / $55.00
Support / $37.45 / Office
Ways and Means / TOTAL Office / $2,482.40
TOTAL Ways and Means / -$430.74 / Postage and Delivery
TOTAL INCOME / $54,567.39 / TOTAL Postage and Delivery / $934.33
Publications
TOTAL Publications / $19,558.72
TOTAL EXPENSES / $41,155.45
OVERALL TOTAL / $13,411.94

End of Year 2006 Balance Sheet

The Balance sheet shows that total club assets of $94,010.07 an overall increase of $10,700 from last year, but includes $5,104 of unpaid liabilities for CHF and Rescue. CHF-RRDAF has dropped by about $2,700--just slightly more than is owed from 2006 dues offsets. The complete balance sheet is below:

ASSETS / LIABILITIES & EQUITY
Cash and Bank Accounts
Bank of America -CD / $50,912.32 / LIABILITIES
Checking BA / $23,546.28 / Credit Cards
CHF-RRDAF / $18,709.95 / RRCUS Business card / $0.00
Savings BA / $841.52 / TOTAL Credit Cards / $0.00
TOTAL Cash and Bank Accounts / $94,010.07 / Other Liabilities
TOTAL ASSETS / $94,010.07 / CHF Donation / $2,515.00
Rescue Donation Offset / $2,589.45
TOTAL Other Liabilities / $5,104.45
TOTAL LIABILITIES / $5,104.45
EQUITY / $88,905.62
LIABILITIES & EQUITY / $94,010.07

Membership Renewals

As of the close of renewals, 745 membership units of 849 have renewed or were exempt from renewal leaving 104 units lapsed. Eighty-nine members (included) have paid by credit card. Results are summarized below:

Members / Dues / Rescue / CHF / Breeder’s / Total / Net after CHF/Rescue
Totals / 745 / $41,471 / $2,605.00 / $2,370.00 / $11,500.00 / $52,971.00 / $36,496.00
Percents / 72.3% / 64.5% / 32.0%
Total members / 849 / 4th Qtr joined 25 / Honorary
1 / Paid
719
Failed to renew / 104
12.7%

Budget

Attached are past results and proposed budget for 2007 and 2008.

Budget Spreadsheet

Attachment A--Specialty 2006

All revenue and expenses assigned to this specialty:

Specialty 2006 / 12/4/2000-
Category Description / 1/30/2007
Agility / $877.00 / Obedience / $810.00
Expenses / -$769.71 / Expenses / -$186.00
TOTAL Agility / $107.29 / TOTAL Obedience / $624.00
Catalog Advertising / $375.00 / Other Events / $226.00
Expense / -$25.06 / Expenses / -$407.22
TOTAL Catalog Advertising / $349.94 / TOTAL Other Events / -$181.22
Catalogs / $2,731.00 / Raffle / $1,270.00
Printing / -$1,443.59 / Sweepstakes / $736.04
TOTAL Catalogs / $1,287.41 / Judge / -$250.00
Clinics / $4,330.00 / TOTAL Sweepstakes / $486.04
Expenses / -$4,145.59 / Top 20 / -$152.50
TOTAL Clinics / $184.41 / entries / $1,000.00
Coursing / $2,069.40 / expenses / -$1,352.15
Expenses / -$852.90 / TOTAL Top 20 / -$504.65
TOTAL Coursing / $1,216.50 / Trophy / $5,170.00
Main Show Expenses / -$20,847.87 / Expenses / -$7,846.22
Main Show Income / $13,302.00 / TOTAL Trophy / -$2,676.22
Meals / $11,095.54 / Vendors / $925.00
Expenses / -$11,927.48 / Way & Means / $17,590.83
TOTAL Meals / -$831.94 / Expenses / -$4,750.69
TOTAL Way & Means / $12,840.14
TOTAL Specialty 2006 / $7,550.83
Note: Ways and Means revenue is overstated while some other categories collected in advance are understated.

Attachment B--Publication Expenses 2006

1/1/2006-
CategoryDescription / 12/31/2006
Publications
Annual of Champions
Admin Exp. / $39.42
Extra champions / -$80.00
Past Issues / -$866.00
Postage & Shipping / $67.52
Printing / $1,883.43
TOTAL Annual of Champions / $1,044.37
Breeder's Directory / -$4,954.58
Printing / $1,000.00
TOTAL Breeder's Directory / -$3,954.58
Newsletter
Postage / $628.67
Printing / $3,931.71
TOTAL Newsletter / $4,560.38
Ridgeback
Extra copies / -$120.00
Advertising / -$14,688.63
Layout / $10,704.59
Postage / $2,979.41
Printing / $16,988.10
TOTAL Ridgeback / $15,863.47
Roster Printing / $1,632.59
Postage / $412.49
TOTAL Roster / $2,045.08
TOTAL EXPENSES / $19,558.72
OVERALL TOTAL / $19,558.72
Note--Negative numbers reflect income