By Tim Sullivan
RUSA Income and Expense Statement 1/01/04-12/31/04
RUSA's financial status is still strong. When the organization started in 1998 one of the financial goals was to maintain a solid reserve of funds at $50,000.00 to insure the financial strength of the corporation. That goal had been achieved by 2003.
With a sufficient amount of reserve funds in 2004, the Board implemented some programs to extend more benefits to our members. This included increasing the amount that was available to reimburse the Regional Brevet Administrators for the expenses that they incur in organizing the brevets for our members. This will hopefully keep the rider's fees lower or enable the RBAs to provide more support for the riders.
In 2004 RUSA also distributed to each member the Pars-Brest-Paris yearbook. This publication is not only a historical account for those members who were able to participate but is also intended as a guide for those who wish to try to do the ride in future years. Hopefully, all of our members benefit by reading the stories of those who have participated in this event in the past.
The Profit and Loss Statement that accompanies this report shows that in 2004 RUSA had total income of $45,254.69. The majority of this was in membership fees of $29,773.00. Expenses totaled $57,081.07. The major expenses were for ACP medal purchases, the newsletter, and the Paris-Brest- Paris yearbook. This resulted in a net loss for the year of $11,826.38.
At year end RUSA still had $49,485.57 in bank accounts, thus maintaining a sufficient reserve to insure the funding of programs for the members.
For 2005 the Board plans on continuing to use the income to benefit our membership. This includes publishing the new handbook, subsidizing the cost of safety equipment, continuing with the RBA reimbursement program, and providing the newsletter to our members.
—Tim Sullivan, RUSA Treasurer