My report shows the actual money that came in and was paid out.
I suppose we could / should award some more scholarships and that way we
can use up the extra cash.
My financial statement cannot reflect budgeted or anticipated money to be
spent.
There is no separate scholarship fund.
js
On Thu, Nov 5, 2020 at 5:08 PM dbeckley@xxxxxxxx <dbeckley@xxxxxxxx> wrote:
This is what we received in donations and what we paid out but the amount
paid out does not reflect the $500 each year that the Association
contributes to fund 2 scholarships which is what it's been from the start.
The extra scholarships were started from 2014 on at the annual membership
meeting after I ,as the current President suggested we start soliciting
donations from the membership and note this on both the membership
application and in the newsletter, as the minutes from the 2014 annual
meeting should note. At the same time, I stated that SMBA should not
discontinue their $500 contribution when we began receiving larger
donations ( which I was sure we would), just because the membership was
generous in their donations as it would not be fair to those donating. The
consensus at that time was agreement with this.
By my calculations, the paid out column of the scholarship fund total on
this report should be reduced by $3500/00 because this amount was
contributed each year from 2014 in the form of a $500 contribution to fund
2 scholarships as was done from the start when we decided to give
scholarships, so the current balance in the scholarship fund at this time
should be $4,626.00, not $1,126.00 . I'm not sure what year SMBA voted to
fund 2 scholarships but it was before 2014 and also before I became
President.
I might add that I have presented this argument to both the Board, Jean
and Kristin previously and checking the minutes of all previous meetings
should verify this. This is why we keep minutes, to verify what has
happened in the past and in my opinion , this should be agreed upon now by
the Board and Officers or else we should go back thru the minutes to and
including the year 2014 and settle this one last time, get the correct
figure and keep the correct balance from this point on, one way or another.
I'm sorry if my explanation above makes me sound like a know it all. I'm
leaving plenty of room for proving I'm wrong if the minutes of past
meetings do not verify what I recall happened.
Dick
On Thursday, November 5, 2020, 01:32:17 PM EST, Jean Snyder <
jmelsny@xxxxxxxxx> wrote:
Scholarship Activity as of October 31, 2020
Actual
Receipts Paid Out Balance
2014 (1,102.00) 1,000.00 (102.00)
2015 (858.00) 1,000.00 142.00
2016 (1,000.00) 1,000.00 -
2017 (1,572.00) 1,000.00 (572.00)
2018 (1,787.00) 1,750.00 (37.00)
2019 (2,144.00) 1,000.00 (1,144.00)
2020 (1,088.00) 1,675.00 587.00
(9,551.00) 8,425.00 (1,126.00)
