Treasurer’s Report, August 2017
For the past 44 years, FVSEF has successfully fund raised to keep program fees affordable for our families. This past year, revenue from program fees contributed 36% of the total program costs and our fundraising efforts contributed the other 64% of revenue.
Although we did better financially this past year than the previous year, we still ended the season with a $15,084 loss after depreciation compared to the previous season’s loss of $28,665. Looking at variances between the past two seasons, a few items stand out. This past season overall fundraising was up 4.8% but program fee’s declined 5.5%. Although enrollment was up in the junior programs, we lost 8 or 9 athletes from the Academy program to the MARS program at Blacktail Mountain. This accounted for approximately a $25,000 loss of revenue this past season.
On the expense side, we realized comparable expenditures to the previous year with two notable exceptions, payroll and Liability insurance. Payroll increased 9.1% or $14,500, the reason being twofold. First, with the overall growth of the program Zak Anderson was promoted to Head YSL Coach and assistant Program Director under Roy Loman. Secondly, we hired Kurt Nelson, a highly experienced and respected coach to run the Academy Team. The Resort this past season requested that we along with others carry higher limits of liability insurance effectually doubling our cost of coverage.
For the 2017-2018 season we are optimistic that with your support in fundraising we will operate in the black once again. Please consider helping out in any way possible. We currently have room for many more parents and interested parties to join our Development Committee.
Hope to see you there,
Click HERE for FVSEF 2016 IRS Form 990