December 2015 Quarterly Budget Report
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