Feb. 14 Meeting Info

7/29/2019 Feb. 14 Meeting Info

1/9


2/9

BOYS & GIRLS CLUBS OF TAMPA BAY

EXECUTIVE COMMITTEE MEETING MINUTES

STEINBRENNER METRO OFFICEDecember 6, 2012

Members Present:

Lynn Dumais, Joe Garcia, Luis Garcia, Greg Hearing, Vic Holcomb, Scott Jacobsen, ShelleyKolseth, Don Smith.

Others Present:

Brad Baumgardner, Brenda Browning, Ricky Gallon, Chris Letsos, Debbie McCarthy,Cassandra Thomas. Guests, Lt. Chad Chronister, Larry Bevis & Major Jerry Carey.

Chairman Greg Hearing called the meeting to order at 12:14 pm and introduced our guests.

Consent Items:Minutes of the October 11, 2012 meeting were provided to the members for their review priorto the meeting. A Motion to approve the Minutes was made by Vic Holcomb, second by LuisGarcia. Motion passed.

A Motion was made by Lynn Dumais to approve the October/November Financial Report,second by Vic Holcomb. Motion passed.

A motion was made by Scott Jacobson to update the BB&T Resolution and Agreement forDeposit Account. Second by Vic Holcomb, Motion Passed.

A Motion was made on the UBS Corporate Resolution by Vic Holcomb, Second by ScottJacobsen, Motion passed. This account is used to transfer stock. UBS needed an updatedresolution.


3/9

Executive Committee Meeting

December 6, 2012

Page Two

they wish to redirect the efforts of the Foundation. Instead of thinking about tomorrow, weneed to be addressing today. With the Great Futures Breakfast money, we would like to take apercentage of that revenue to use now. Vic concurs with Luis in that we need to find new wayto raise revenue and is in favor of a committee to oversee this. Lynn stated that the mostimportant asset we have are our staff in the clubs.

Luis reported that if we exclude what we receive from the Foundation, for the last 2 years and2013 budge, we are $450K to $500K in the red those 3 years.

There was discussion on how our money comes in via, revenue, special events and, grants.We need to figure where to get additional funding. Community and board support is key.

Brad stated we need a strong board leader to lead this group. Joe suggested asking the Sheriffor Mayor hold a special event for us. Luis stated that sometimes the return for the effort of anevent, doesnt justify the event.

Greg will get with Brad, Luis and Lynn to come up with ideas on who to ask or appoint toserve on this new committee.

Motion to approve the budget passed, unanimously.

Foundation/Endowment Report:Larry Bevis reported on the Foundation/Endowment. A handout was provided to themembers. The committee has been working hard on getting organized. We have a self directaccount and money with the Community Foundation that we have no control of. CapTrust


4/9

Executive Committee Meeting

December 6, 2012

Page Three

sponsors (list provided). They would like to increase Steak Dinner committee. The end of theyear mailing dropped yesterday. Website is still under developments. Hope to launch January1

st.

Vic reported on Great Futures Breakfast. We have 82 tables. Glenn, Cassandra and Rickyhave done a great job. $62,500K made in sponsorships so far.

Brenda reported that the Yankees Luncheon being held on March 21, 2013 at the TampaConvention Center. We are sold out of $10K tables. General Admission tickets go on sale tothe public on December 12

th. Weve brought in $127K in table sales.

Chris reported that GTE is hosting the Youth of the Year interviews. Chris is working onpotential funding for programs.

Ricky reported that for Christmas, every Club has been taken care of and mentioned all theevents going on at the different Clubs for Christmas.

Greg thought the board and staff event on Sunday at Boggy Hills was well attended by staffbut was disappointed with the board attendance. He thinks its important to have board

interact with staff. He would like to see this every year. Next year, he will ask boardmembers to make a donation to continue to hold this event. Shelley suggested maybe doing it

on a different date. It meant a lot to staff to see board members there.

Greg closed the meeting and an Executive Session was held.


5/9

Boys & Girls Clubs of Tampa Bay, Inc.Memo

To: Executive Committee

From: Deborah McCarthy

Date: February 12, 2012

Subject: December 2012 Financial Statements

Please note that these statements have not yet been reviewed by the FinanceCommittee

Please find attached the Preliminary Balance Sheet and Income Statement for thetwelve months ended December 31, 2012.

We have a preliminary Net Deficit of $274,000 which is over the projected budget deficitby $173,000. This continues to be due primarily to the shortfall in Total Public Supportand Revenue of $156,000.

As for the slight unfavorable variance in Total Expenses of $17,000, this is acombination of a favorable variance in Total Personnel Costs of $94,000, offset by anunfavorable variance of $112,000 in Total Operating Costs. The details of the overagein Operating Costs is as follows:

Professional Fees & Contract Services

A portion of the overage is due to the costs to design and implement a new website aswell as training costs for the new website of $15,000. Other overages were due toadditional stipends for Summer Teen Youth Employment Services of $45,000. This wasoffset by additional funding received from Community Service Block Grants for this


6/9

Page 1Boys & Girls Clubs of Tampa Bay, Inc.2/12/2013 02:07:53 PM

Comparative Balance Sheets

Preliminary Draft - Unaudited

Operating Fund

12/31/2012

Land & Bldg Fund

12/31/2012

Temporarily

Restricted Fund

12/31/2012

Endowment Fund

12/31/2012

Totals

12/31/2012

Totals

12/31/2011

Assets

Current Assets

$648,844 $34,577 $678,392 $1,361,813 $1,677,232Cash & Cash Equivalents

$218,084 $218,084 $244,931Accounts Receivable

Due From BGCTB Foundation $521,690 $521,690 $566,797

$103,991 $103,991 $110,236Pledges Receivable - Current

Investments - Short Term $1,132,292 $287,708 $1,420,000 $1,225,423

$127,090 $127,090 $128,726Prepaid Expenses

$1,515,708 $1,166,869 $1,070,090 $0 $3,752,668 $3,953,345Total Current Assets

Non Current Assets

$664,798 $664,798 $611,033Investments

$7,571,843 $7,571,843 $7,935,103Land, Property and Equipment

$156,490 $156,490 $15,445Long Term Pledges Receivable

$3,336 $80,344 $83,679 $80,299Other Assets

$3,336 $7,571,843 $236,834 $664,798 $8,476,810 $8,641,881Total Non Current Assets

$1,519,044 $8,738,712 $1,306,924 $664,798 $12,229,478 $12,595,225Total Assets

Liabilities and Net Assets

Liabilities

Current Liabilities

$78,108 $78,108 $71,520Accounts Payable

$3,381 $3,381 $2,843Payroll Withholdings Payable

$212,780 $212,780 $234,151Accrued Expenses Payable

$294,269 $0 $0 $0 $294,269 $308,514Total Current Liabilities


7/9

Page 2Boys & Girls Clubs of Tampa Bay, Inc.2/12/2013 2:07:53PM

Comparative Balance Sheets


Operating Fund

12/31/2012

Land & Bldg Fund

12/31/2012

Temporarily

Restricted Fund

12/31/2012

Endowment Fund

12/31/2012

Totals

12/31/2012

Totals

12/31/2011

Other Liabilities

$375,185 $375,185 $315,183Deferred Revenue

$196,685 $212,610 $409,295Due to BGCTB Foundation

$2,031 $2,031Due to Others

$573,901 $0 $212,610 $0 $786,511 $315,183Total Other Liabilities

$868,170 $0 $212,610 $0 $1,080,780 $623,697Total Liabilities

Net Assets

Net Assets

Net Assets - Unrestricted Fund $1,185,930 $1,185,930 $1,460,560

Net Assets - Fixed Assets Fund $6,798,413 $6,798,413 $7,229,558

Net Assets - Temporarily Restricted Fund $2,462,477 $2,462,477 $2,621,196

Net Assets - Endowment Fund $701,879 $701,879 $660,215

$1,185,930 $6,798,413 $2,462,477 $701,879 $11,148,699 $11,971,528Total Net Assets

Transfers

Transfers To/From Unrestricted Fund ($215,149) $1,940,300 ($1,368,163) ($37,080) $319,907

Transfers To/From Fixed Assets Fund ($238,007) ($238,007)

Transfers To/From Temporarily Restricted Fun ($81,900) ($81,900)

($535,056) $1,940,300 ($1,368,163) ($37,080) $0 $0Total Net Asset Transfers

$650,874 $8,738,712 $1,094,314 $664,798 $11,148,699 $11,971,528Total Net Assets

$1,519,044 $8,738,712 $1,306,924 $664,798 $12,229,478 $12,595,225Total Liabilities and Net Assets


8/9

Boys & Girls Clubs of Tampa Bay, Inc.

Comparative Statement of Revenue & Expenses


Actual

1/1/2012

To

12/31/2012

Budget

1/1/2012

To

12/31/2012

Variance

Favorable

(Unfavorable)

Variance

%

Total 2012

Annual

Budget

Actual

1/1/2011

To

12/31/2011

Budget

1/1/2011

To

12/31/2011

Variance

Favorable

(Unfavorable)

Variance

%

Year To Date Last Year

Revenue

Public Support

$852,754 $832,000 $20,754 2% $832,000 $921,990 $907,000 $14,990 2%United Way & Combined Campaigns

$1,509,941 $1,660,000 ($150,059) (9)% $1,660,000 $1,571,516 $2,005,000 ($433,484) (22)%Contributions

$1,890,433 $1,885,950 $4,483 0% $1,885,950 $1,753,013 $1,694,033 $58,980 3%Fees & Grants

$4,253,128 $4,377,950 ($124,822) (3)% $4,377,950 $4,246,519 $4,606,033 ($359,514) (8)%Total Public Support

Revenue

$411,340 $387,650 $23,690 6% $387,650 $397,206 $451,350 ($54,144) (12)%Program Service Revenue

$6,193 $4,800 $1,393 29% $4,800 $8,716 $15,300 ($6,584) (43)%Investment Revenue$24,601 $21,700 $2,901 13% $21,700 $15,220 $23,200 ($7,980) (34)%Other Revenue

$442,134 $414,150 $27,984 7% $414,150 $421,142 $489,850 ($68,708) (14)%Total Revenue

Special Events

$593,100 $634,750 ($41,650) (7)% $634,750 $621,830 $612,750 $9,080 1%Special Event Revenue

($79,536) ($61,770) ($17,766) (29)% ($61,770) ($84,997) ($59,770) ($25,227) (42)%Special Event Expenses

$513,564 $572,980 ($59,416) (10)% $572,980 $536,833 $552,980 ($16,147) (3)%Net Special Events

$5,208,827 $5,365,080 ($156,253) (3)% $5,365,080 $5,204,493 $5,648,863 ($444,370) (8)%Total Public Support and Revenue

Expenses

Personnel Costs

$2,546,267 $2,590,249 $43,982 2% $2,590,249 $2,577,969 $2,638,146 $60,177 2%Salaries

$231,129 $296,634 $65,505 22% $296,634 $271,204 $299,674 $28,470 10%Employee Benefits

$199,904 $211,109 $11,205 5% $211,109 $201,478 $211,687 $10,209 5%Payroll Taxes

$65,830 $39,570 ($26,260) (66)% $39,570 $47,494 $37,892 ($9,602) (25)%Other Employee Costs

$3,043,130 $3,137,562 $94,432 3% $3,137,562 $3,098,145 $3,187,399 $89,254 3%Total Personnel Costs

Operating Costs

$107,786 $62,370 ($45,416) (73)% $62,370 $23,167 $15,850 ($7,317) (46)%Professional Fees

$151,196 $144,120 ($7,076) (5)% $144,120 $106,141 $89,904 ($16,237) (18)%Contract Services

Page 12/12/2013


9/9

Boys & Girls Clubs of Tampa Bay, Inc.

Comparative Statement of Revenue & Expenses


Actual

1/1/2012

To

12/31/2012

Budget

1/1/2012

To

12/31/2012

Variance

Favorable

(Unfavorable)

Variance

%

Total 2012

Annual

Budget

Actual

1/1/2011

To

12/31/2011

Budget

1/1/2011

To

12/31/2011

Variance

Favorable

(Unfavorable)

Variance

%

Year To Date Last Year

$278,714 $303,369 $24,655 8% $303,369 $280,529 $302,774 $22,245 7%Supplies

$83,889 $86,779 $2,890 3% $86,779 $101,672 $93,600 ($8,072) (9)%Information Technolgy

$1 ,233,685 $1,236, 925 $ 3,240 0 % $1,236,925 $1,38 0,656 $1,359,590 ( $21,066) ( 2)%Occupancy Expense

$33,504 $ 22,885 ($10,619) (46)% $22,885 $ 15,354 $ 22,740 $7,386 32%Equipment Expense

($5,583) $15,588 $ 21,171 136% $15,588 $ 18,380 $ 24,888 $6,508 26%Printing & Postage

$219,068 $191,210 ($27,858) (15)% $191,210 $179,255 $186,922 $7,667 4%Transportation Expense

$50,094 $39,000 ($11,094) (28)% $39,000 $43,180 $39,000 ($4,180) (11)%Training, Travel & Meetings

$220,702 $167,650 ($53,052) (32)% $167,650 $198,179 $160,600 ($37,579) (23)%Program Services

$66,770 $ 58,370 ($8,400) (14)% $58,370 $ 52,909 $161,210 $108,301 67%Other Expenses

$2 ,439,825 $2,328, 266 ( $111,559) ( 5)% $2,328,266 $2,39 9,421 $2,457,078 $57,657 2%Total Operating Costs

$5 ,482,954 $5,465, 828 ($17,126) 0% $5,465,828 $5,49 7,566 $5,644,477 $14 6,911 3%Total Expenses

($274,128) ($100,748) ($173,380) (172)% ($100,748) ($293,073) $4,386 ($297,459) (6,782)%NET SURPLUS/(DEFICIT)

Page 22/12/2013

Feb. 14 Meeting Info

Documents

Transcript of Feb. 14 Meeting Info