[DeTomaso] NPC- Reno Fernley Raceway

[Jeff Detrich]

The club is growing at a really healthy clip. The POCA Lone Star Fun Rally
in Texas has been a big help. If you can't make it to the Fun Rally, We'd
really appreciate your talking it up with your friends. There is still time
to register. We're expecting about the same number of people as attended
the Reno Fun Rally. Almost 60 cars already committed!

Jeff
6559

On Sat, May 2, 2015 at 10:31 AM, Marshall Smith <
marshallgsmith at sbcglobal.net> wrote:

> Here here Jeff! Finally a response from the board!!
>
> I am a little skeptical about the club growing as I have heard POCA lost
> 108 members in 2014. Mike Burnett thought it serious enough to tell all of
> us that all members that departed POCA would be contacted by the Board and
> enticed to return. Unfortunately, Mike also stated that none of the San
> Diego Pantera members that departed POCA would be contacted. I guess that's
> the price we pay for being diligent and asking pertinent questions.
>
> Is there any truth to Bob Reid's statement that a dues reduction is in the
> works?
>
> Marshall
>
>
>
>
> Sent from my Verizon Wireless 4G LTE smartphone
>
>
> -------- Original message --------
> From: Jeff Detrich
> Date:05/02/2015 8:03 AM (GMT-08:00)
> To: detomaso at poca.com, Jeff 1Detrich
> Subject: Re: [DeTomaso] NPC- Reno Fernley Raceway
>
> Okay, time to clear this up since no one else on the Board wants to step up
> and talk about it. For some reason, they consider it to be privileged and
> confidential information even though it is published as part of the yearly
> financials. Yes, POCA does have a large amount of cash. Over $100,000. The
> actual balance varies month to month based on dues received, expenses for
> each month, and so forth. Right now, the fund balance is much more than
> $100,000 because it includes Fun Rally registration fees that will be used
> to pay for the Fun Rally expenses right after the Fun Rally ends.
>
> So, realistically, how much excess money does the club actually have? For
> the sake of argument, let's just say we have $100,000. Prudent financial
> management would have us set a reserve for unanticipated cash needs. There
> are things other than our recurring expenses that would typically be
> considered when setting a reserve, primarily for uninsured risks,
> shortfalls in revenue, and unanticipated expenses.  Currently, club
> expenses are running about $40-45,000 a year. So it would not be
> unreasonable to set that as the reserve. That would leave excess cash of
> about $55,000.
>
> Some may ask, why do we have so much money? That is relatively easy to
> explain. For several years we were accruing expenses for the POCA Profiles
> Magazine and dues were set accordingly. Unfortunately, we didn't publish as
> many as we planned. As a result, the cash balance grew. The good news is
> that our new Profiles Editor, Mike Haney, seems to be on target to publish
> more regularly, with the one caveat that all of us continue to support his
> efforts by providing newsworthy articles for him to publish.
>
> What should the Board do with this excess money? First of all, let me state
> that the money belongs to the members. Both myself and Bob Reid, the
> Treasurer, have repeatedly brought this up and that we should consider
> reducing the dues. To date, the rest of the Board has tabled any
> consideration of this issue but I expect that it will be brought up again
> after the Fun Rally. The good news is that the club is growing which
> mitigates some of the issues involved with setting the dues. As a result,
> even with dues at $60 per year, the club would essentially break even.
>
> I hope this clears things up. We work for you. See you at the Fun Rally.
>
> Jeff Detrich
> Secretary, POCA
>
>
>
>
>
>
>
>
>
> >
>
-------------- next part --------------
   The club is growing at a really healthy clip. The POCA Lone Star Fun
   Rally in Texas has been a big help. If you can't make it to the Fun
   Rally, We'd really appreciate your talking it up with your friends.
   There is still time to register. We're expecting about the same number
   of people as attended the Reno Fun Rally. Almost 60 cars already
   committed!
   Jeff
   6559

   On Sat, May 2, 2015 at 10:31 AM, Marshall Smith
   <[1]marshallgsmith at sbcglobal.net> wrote:

   Here here Jeff! Finally a response from the board!!
   I am a little skeptical about the club growing as I have heard POCA
   lost 108 members in 2014. Mike Burnett thought it serious enough to
   tell all of us that all members that departed POCA would be contacted
   by the Board and enticed to return. Unfortunately, Mike also stated
   that none of the San Diego Pantera members that departed POCA would be
   contacted. I guess that's the price we pay for being diligent and
   asking pertinent questions.
   Is there any truth to Bob Reid's statement that a dues reduction is in
   the works?
   Marshall
   Sent from my Verizon Wireless 4G LTE smartphone
   -------- Original message --------
   From: Jeff Detrich
   Date:05/02/2015 8:03 AM (GMT-08:00)
   To: [2]detomaso at poca.com, Jeff 1Detrich
   Subject: Re: [DeTomaso] NPC- Reno Fernley Raceway
   Okay, time to clear this up since no one else on the Board wants to
   step up
   and talk about it. For some reason, they consider it to be privileged
   and
   confidential information even though it is published as part of the
   yearly
   financials. Yes, POCA does have a large amount of cash. Over $100,000.
   The
   actual balance varies month to month based on dues received, expenses
   for
   each month, and so forth. Right now, the fund balance is much more than
   $100,000 because it includes Fun Rally registration fees that will be
   used
   to pay for the Fun Rally expenses right after the Fun Rally ends.
   So, realistically, how much excess money does the club actually have?
   For
   the sake of argument, let's just say we have $100,000. Prudent
   financial
   management would have us set a reserve for unanticipated cash needs.
   There
   are things other than our recurring expenses that would typically be
   considered when setting a reserve, primarily for uninsured risks,
   shortfalls in revenue, and unanticipated expenses.A  Currently, club
   expenses are running about $40-45,000 a year. So it would not be
   unreasonable to set that as the reserve. That would leave excess cash
   of
   about $55,000.
   Some may ask, why do we have so much money? That is relatively easy to
   explain. For several years we were accruing expenses for the POCA
   Profiles
   Magazine and dues were set accordingly. Unfortunately, we didn't
   publish as
   many as we planned. As a result, the cash balance grew. The good news
   is
   that our new Profiles Editor, Mike Haney, seems to be on target to
   publish
   more regularly, with the one caveat that all of us continue to support
   his
   efforts by providing newsworthy articles for him to publish.
   What should the Board do with this excess money? First of all, let me
   state
   that the money belongs to the members. Both myself and Bob Reid, the
   Treasurer, have repeatedly brought this up and that we should consider
   reducing the dues. To date, the rest of the Board has tabled any
   consideration of this issue but I expect that it will be brought up
   again
   after the Fun Rally. The good news is that the club is growing which
   mitigates some of the issues involved with setting the dues. As a
   result,
   even with dues at $60 per year, the club would essentially break even.
   I hope this clears things up. We work for you. See you at the Fun
   Rally.
   Jeff Detrich
   Secretary, POCA
   >

References

   1. mailto:marshallgsmith at sbcglobal.net
   2. mailto:detomaso at poca.com