Treasurer’s Year End Report

I am very pleased to report that your Officers and Committees have done another outstanding job this year. The Board of Governors decided once again to live within our budget, which means that we could spend no more than that brought in from our membership renewals, new members and income from fund raising. Our goal is to break even each year. As one of her last official acts, Treasurer June Cottrell presents Mike Thielke with his share of the 50/50 funds in North East, MD. We started out 2004 with $8303 in the bank and, as of October 30th, we had $8228 but we anticipate we will match or better the balance after all the expenses and income for the year are tallied. Some highlights of the year were: Yearbook sponsors paid for the yearbook in its entirety with a little to spare •We have invested in our Ships' Store and have a nice selection of quality merchandise to choose from. Income from dues offset the entire budget with 19 new Regular members, 2 new Associate members and 3 members adding a second boat to our fleet. We invested a little in our Casino Night at the Great Oak rendezvous, and those of us who could make it had a spectacular time. We donated the Club’s share ($260.00) of the Rock Hall 50/50 money to the Chesapeake Marine Trades Career School. This year, for the first time, we used the 50/50 money to offset some expenses for the rendezvous so that prices could be kept lower to encourage more participation. For the first time, we set aside the new members initiation fee to be used by the Vice Commodore for name badges and burgees for our new members. We had "name badge amnesty" (as Eric liked to call it) for any member without a name badge to obtain one free of charge. We used extra income from 2003 to pay for the appetizers at the Midwinter dinner at Annie’s. I want to thank the membership for your dedication to the CYCA through: Support in renewing your memberships Solicitation of new members Purchase of Ships' Store merchandise Proudly wearing our logo Your 50/50 contributions to be used by the Fleet Captain for making the rendezvous memorable. I have been proud to be your Treasurer for the past 4 years. Respectfully Submitted, June Cottrell Back