Page 4 - RAFINO Reporter Winter 2022

Page 4 RAFINO Reporter Fall-Winter 2022

The Trez Sez

As of November 16, 2022, our membership stands at 738, of which 236 are
surviving spouses and 340 are Life Members. Of the remaining 162 members,
96 are paid up to date and 66 are overdue. Twenty-seven members were recently
dropped from the rolls in accordance with our bylaws.

The following table shows the Reunion transactions over the past four and one-
half years:

Registration Fees * $47,175.95
Refunded Registration Fees $23,609.00
Net Registration Fees After Refunds $23,566.95
Cash Donations ** $1,497.00
TOTAL INCOME $25,063.95

Charleston Deposits Forfeited $550.00
Hyatt Food & Beverages $15,798.22
Hyatt Audio Equip thru Encore $4,268.43
Misc. Admin (Mugs, Programs, Signs) $1,010.91
Transportation $3,630.00
Returned Check Fee $10.00
TOTAL EXPENSES $25,267.56

Net Amount *** -$203.61

* Includes deducted amounts for PayPal fees totaling $1,240.87.
** Additional donations of $3,783.09 are included in net registration fees.
*** Refund for $325 pending is not included. The $325.00 in an outstanding refund will have to be paid, as the
cancellation was made before the cut-off date.

Additional cancellations for $1,580.00 are not included. The $1,580.00 was made after the cut-off date and
could not be canceled with the hotel catering service.

A decision about refunding members for the $1,580 cancellation is forthcoming from the RAFINO Directors. If
refunds were to be made for both items, the net loss for the Reunion would be $2,108.61.

All these numbers are only for Reunion income and expenses. The last approved financial statement for the
period October 1, 2018, to September 30, 2020, showed $118,069.07. We have not been able to finalize our
current financial statement because of delays in settling the Reunion income and expense accounts, but we will
publish them as soon as they become available. Overall, our net worth as of November 16, 2022, is
$125,974.18. This includes approximately $10,000 in investment income and over $8,000 in dues, but it
includes about $11,000 in unrealized losses. Again, these are unrealized losses, and are no cause for panic.