December 2015 Quarterly Budget Report

USRowing Association

YTD December 2015 Summary

Overall, 2015 revenue was $97,793 more than expenses.  As compared to budget, revenues were $10,405 more than expenses.

The 2015 revenue was $132,949 more than the 2015 budget. This was mainly a result of increased revenue in Contributions and Grants and less revenue in Membership Dues and Sales.

The 2015 expenses were $122,544 more than the 2015 budget. This was largely a result of the following:

  • Program expenses – increase in grant expenses, rowing magazine and in-kind expenses.
  • Administrative expenses – increase in general liability insurance (foreign), legal fees and depreciation.
  • Travel expenses – decrease in international expenses due to a lower foreign exchange rate.

Brian Klausner, Controller

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