Finance Committee Minutes November 19

FInance Committtee met November 19, the following were discussed.


John has an option that removes the contributions to the Reserve Funds but continues transfer to the Reserve Funds from net income, removing the contingency fund and having the President's Discretionary fund serve the purpose of the contingency fund and tweaking the membership income.

Jim has an option that includes raising the membership dues by $15 a member and $30 a household and removing some funds from Purcellville maintenance.  OK by Dave.

Treasurer has an option that reduces the contributions to the Reserve Funds by half the amount (resulting in 15% of gross income going to the Reserve Funds), tweaking the membership income, several minor reductions in some of the expenses and distributing (but not reducing) the Purcellville maintenance and improvements over the months.

The Board may or may not accept any of our options.

Preliminary  2025 Budget will be presented to the Board at their November 20 meeting.  We expect the Board to review this material and be prepared to confirm the 2025 Budget at the December Board Meeting.