[DeTomaso] NPC- Reno Fernley Raceway

Sat May 2 12:22:37 EDT 2015

Thanks Jeff!!    Finally a voice of reason.

"Sometimes I think the surest signs that intelligent life
  exists elsewhere in the universe is that none of it has tried
  to contact us!"

Terry W. Himes [cid:53E0F496-A897-4D51-8824-5294C1A60FE7]
JPL Jet Propulsion Laboratory
InSight Sequence Team Lead
Rosetta/MEX Sequence Team Lead
Phone: (818) 393-6261
Cell:     (818) 653-8213
Fax:     (818) 393-3147
thimes at jpl.nasa.gov<mailto:thimes at jpl.nasa.gov>
🇺🇸

From: Jeff Detrich <jjdetrich at gmail.com<mailto:jjdetrich at gmail.com>>
Date: Saturday, May 2, 2015 8:03 AM
To: "detomaso at poca.com<mailto:detomaso at poca.com>" <detomaso at poca.com<mailto:detomaso at poca.com>>, Jeff 1Detrich <jjd1010 at aol.com<mailto:jjd1010 at aol.com>>
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 --------------
   Thanks Jeff!!    Finally a voice of reason.

   "Sometimes I think the surest signs that intelligent life

     exists elsewhere in the universe is that none of it has tried

     to contact us!"

   Terry W. Himes  [cid:53E0F496-A897-4D51-8824-5294C1A60FE7]

   JPL Jet Propulsion Laboratory

   InSight Sequence Team Lead

   Rosetta/MEX Sequence Team Lead

   Phone: (818) 393-6261

   Cell:     (818) 653-8213

   Fax:     (818) 393-3147

   [1]thimes at jpl.nasa.gov

   From: Jeff Detrich <[2]jjdetrich at gmail.com>
   Date: Saturday, May 2, 2015 8:03 AM
   To: "[3]detomaso at poca.com" <[4]detomaso at poca.com>, Jeff 1Detrich
   <[5]jjd1010 at aol.com>
   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

References

   1. mailto:thimes at jpl.nasa.gov
   2. mailto:jjdetrich at gmail.com
   3. mailto:detomaso at poca.com
   4. mailto:detomaso at poca.com
   5. mailto:jjd1010 at aol.com
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