Glen,
I very much appreciate your comments, and I agree with you.
js
From: dmarc-noreply@xxxxxxxxxxxxx
To: "smba" <smba@xxxxxxxxxxxxx>
Sent: Wednesday, April 22, 2020 7:46:53 PM
Subject: [smba] Fwd: Re: Scholarships
Try again, did not go through on previous attempt.
Glen
-----Original Message-----
To: jmelsny@xxxxxxxxx <jmelsny@xxxxxxxxx>; smba@xxxxxxxxxxxxx
<smba@xxxxxxxxxxxxx>
Sent: Wed, Apr 22, 2020 7:45 pm
Subject: Re: [smba] Re: Scholarships
So far, the table is understood. However, a question before we jump too far,
and as a discussion item. The Association funds the equivalent of $500 per year
or whatever amount it determines each year. What do we do if that money is not
used, a simple example, no one applies. I do not think we should carry over
that $500 to the next year and then compound it with the next year's $500
contribution so that the Association has funded $1000 the second year. Yes, so
far Kristen has managed to get scholarship applicants, but let's determine all
the rules before we jump too far.
Maybe in any one year the Association's funding is $500 or whatever amount the
Board decides for that year.
Hope I have not confused anyone with this question.
Glen
-----Original Message-----
From: Jean Snyder <jmelsny@xxxxxxxxx>
To: smba@xxxxxxxxxxxxx
Sent: Wed, Apr 22, 2020 7:21 pm
Subject: [smba] Re: Scholarships
Sounds reasonable to me.
js
On Wed, Apr 22, 2020 at 7:09 PM [ mailto:dbeckley@xxxxxxxx ;| dbeckley@xxxxxxxx
] < [ mailto:dbeckley@xxxxxxxx ;| dbeckley@xxxxxxxx ] > wrote:
Kristen's figures bear out very close my estimate that our $17,000 plus balance
in the Treasury is more like $13,000. I believe her figures are exactly correct
except possibly for an adjustment for the Dick Laird contribution in 2020.
This is all the more reason, in my opinion to have a sub account ( or separate
account) for the scholarships. A separate account could easily be administered
by Kristin as scholarship chairman and SMBA VP. The SMBA Treasury could still
be kept and run by Jean as Treasurer. It is my suggestion that at the end of
each year she would simply write a check from the general account for all
scholarship donations for that year , including the Laird gifting, AND the $500
contribution from the general fund, payable to SMBA scholarship fund. This, I
believe, would effectively end the problem and not be a hardship on anyone.
Dick
On Wednesday, April 22, 2020, 10:46:52 AM EDT, Kristen Schneider < [
mailto:kristenkschneider@xxxxxxxxx ;| kristenkschneider@xxxxxxxxx ] > wrote:
Below is an updated table that reflects Total Member Contributions by Year, the
Amount of Contributions Carryover From Previous Year (Total Member
Contributions minus Amount Funded by Member Contributions), the Total of Member
Contributions plus the Carryover from Previous Year (ongoing balance of member
contributions), the Total Awards Paid for that year, the two SMBA Funded awards
($500), the difference between Awards Paid and SMBA Funded of Amount Funded by
Member Contributions, then the resulting Member Contribution Balance Carryover
to bring over into the next scholarship year. Hopefully, breaking it out in
this manner in an attempt to lay it all out clearly didn't make it more
confusing! :o) Not factoring in those donations tagged to the Laird scholarship
or this year's awards, I show a current balance in the Scholarship Fund of
$4,713.
Member Contributions Member Contribution Bal Carryover from Previous
Yr Total Year + Bal Carryover Member Contributions Total Awards
Paid SMBA Funded
2 awards/year Amount funded by member contributions Member Contribution Bal
Carryover
(Total Contr and Bal Caryover - Amt Funded by Member Cont)
2014 1,102.00 - 1,102.00 1,000.00 500.00 500.00
602.00
2015 858.00 602.00 1,460.00 1,000.00 500.00 500.00 960.00
2016 1,000.00 960.00 1,960.00 1,000.00 500.00 500.00
1,460.00
2017 1,572.00 1,460.00 3,032.00 1,000.00 500.00
500.00 2,532.00
2018 1,787.00 2,532.00 4,319.00 1,750.00 500.00
1,250.00 3,069.00
2019 2,144.00 3,069.00 5,213.00 1,000.00 500.00
500.00 4,713.00
2020 4,713.00 500.00
Balance in Fund
8,463.00 8,463.00 6,750.00 3,000.00
3,750.00 4,713.00
On Wed, Apr 22, 2020 at 10:15 AM Kristen Schneider < [
mailto:kristenkschneider@xxxxxxxxx ;| kristenkschneider@xxxxxxxxx ] > wrote:
BQ_BEGIN
I’m working on pulling together some of the points that Dick just raised. I am
tryin to lay them out as clearly as possible, but we’ll work through questions.
I have added a column forbSMBA Funded (2/year). I will send shortly.
Dick raises an excellent point though, that we do need to track the Dick Laird
tagged contributions separately. I know Jean had that process in place but
didn’t get to check emails for that info yet.
Stay tuned!
Sent from my iPhone
On Apr 22, 2020, at 10:02 AM, " [ mailto:dbeckley@xxxxxxxx ;| dbeckley@xxxxxxxx
] " < [ mailto:dbeckley@xxxxxxxx ;| dbeckley@xxxxxxxx ] > wrote:
BQ_BEGIN
I do not think these figures take into consideration that the General Fund
budgets $500 each year to the scholarship fund, which if I'm correct would add
another $3000 to the balance of the scholarship fund .
Kristen can probably verify this with her figures, if I am correct..
Also, there has been donations in 2020 to the scholarship fund that are not in
this compilation as well. This year's recipients, although picked have not yet
been paid out, which should take another $725 out of the balance of the fund.
There are 4 this year plus the 3 kids which I believe have asked for $75 each (
or $75 total) for camp and have been approved. The Assn. will be responsible
for 2 scholarships this year because $500 was budgeted again as always.
This discrepancy is precisely why I have always been adamant that the
scholarship funds should be housed in a sub-account, because contributions from
the general fund budget tend to fall thru the cracks as time passes. I'm in no
way saying anyone is responsible for this . It's just the way funds get
sidetracked when proper records are not kept on a certain item ( scholarships)
and after a few years the balances are lost track of and this is the result.
Dick
On Wednesday, April 22, 2020, 08:59:24 AM EDT, Jean Snyder < [
mailto:jmelsny@xxxxxxxxx ;| jmelsny@xxxxxxxxx ] > wrote:
Scholarship Activity
Actual Budgeted
Receipts Paid Out Balance Income Expense
2014 (1,102.00) 1,000.00 (102.00) (200.00)
750.00
2015 (858.00) 1,000.00 142.00 (400.00)
1,000.00
2016 (1,000.00) 1,000.00 - (400.00)
1,000.00
2017 (1,572.00) 1,000.00 (572.00) (400.00)
1,000.00
2018 (1,787.00) 1,750.00 (37.00)
2019 (2,144.00) 1,000.00 (1,144.00)
(8,463.00) 6,750.00 (1,713.00)
BQ_END
BQ_END
