Members,
September 25, 2010 was our final board meeting of the year and this was a very successful meeting. However, there is one point that was discussed and we feel that we, as the board, did not do a good job of clearing the air.
Our current funds stand in excess of $110,000. We recently sent a letter out to our members asking for people to rejoin or send a donation, if possible. Sid Ingram, owner of Beavers Bend Fly Shop and foundation advisor, asked why we did that if we have so much money. He also stated that the letter seemed to imply that we were short of funds at this time.
After some discussion we feel that we are leaving key information out of the financial report given at the meetings. That information being what we’ll term as “Committed Funds”. Money that we have promised or set aside but not actually spent yet.
In this category we have $60K for the re-reg project, $25K for the bubble diffuser compressor, $12K for this year’s repairs to Spillway and extra trout. And we are sure that we are leaving something out. If you subtract that money out, this clearly shows that we are not as well off as it appears. And we have larger future plans in the works that will require even more funds. Spillway cold water extension, New Handicap Access on the river, etc.
Also to point out is that a large majority of our funds come from just a few different entities. We would like to see our membership more active financially and through participationbefore we lose these other sources of funding.
We hope that this clears things up. Thank you to all of you for current and ongoing support.
LMFRF Board of Directors
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