Treasurer’s Report

South Central Region, S.I.A.
2020 Conference
Treasurer’s Report

Presented by: Kathy Newsom

The financial statements presented in the Call to Conference are as of January 31, 2020 and for the period July 1, 2018 through January 31, 2020.


As of January 31, 2020, South Central Region had $96,325.79 in Net Assets.  This is further broken down by where this amount originated.  We have:

  • $10,000 that is a Reserve Fund which gives us at least 6 months of operating funds should we need them.
  • $38,060.04 is a principal reserve for Dreams in Action.  Earnings from this principal amount are added to the annual silent auction proceeds from our Conference each year and distributed to the Lucy Keller Dreams in Action award winners the following year.  The current balance to be distributed as of January 31, 2020 is $1,788.15.
  • $9,322.69 is the amount of excess operating revenue that we have carried over from previous bienniums.
  • $12,287.67 is the current excess operating revenue, which you will see on the Statement of Revenues and Expenses.
  • $3,404.87 and $19,542.37 are the Fall Meeting and Region Conference overages, respectively, and are available for future shortages the Region may have for these events in the future.  Each year any shortages that we have are funded from these reserves.  If we have excess funds from these events it is added to these accounts.

STATEMENT OF REVENUES AND EXPENSES July 1, 2018 through January 31, 2020

The top half of this statement accounts for the Operating Revenues (Member Dues and Other Income) and the Operating Expenses (the costs of operating our Region).  The Net Operating Revenues in Excess of Expenses for the 19 month period is $12,287.67.

The bottom half of this statement accounts for the “restricted” or “reserved” revenues that we receive and hold until they are expended for their purpose such as Dreams in Action funds, Lucky Laurel Lottery receipts, mandatory Region Conference Fees and Fall Meeting Fees.  Over time the Restricted Fund Revenues will always equal the Restricted Fund Expenses.

The final financial statement is the STATEMENT OF REVENUES AND EXPENSES JULY 1, 2018 THROUGH JANUARY 31, 2020 COMPARED TO 2018 – 2020 BIENNIAL BUDGET.  Items to note here:

  • This shows the budget for the 24 month biennium compared to the actual amounts for 19 months.  Actual Revenues are $2,475 less than budgeted.  Since January 31st, I have received $326 more in New Member Dues.  We have three more months before yearend and I’m sure there will be more new member dues received.  However, I doubt that we will receive enough to meet our budget.
  • Comparing the Actual Expenses to Budget, you see that we are significantly under budget.  Since January 31st, the Region has/will incur expenses for the Live Your Dream Awards and Soroptimist of the Year Award as well as other operating expenses. 
  • Bottom line, I think the Region will end the biennium under budget approximately $6,000. 
  • Sadly, the 2020 South Central Region Conference had to be cancelled.  We have saved Board members’ travel, lodging and other expenses associated with that event and by holding the Board meeting by conference call.

2020-2021 Annual Dues Statement

  • I will be emailing the 2020-2021 Annual Dues Statement by the end of April.  Please remember that the Mandatory Registrations for both the Region Conference and the Fall Meeting will increase from $20 to $25 each.  So, for each club, the Mandatory Registration for the Region Conference will be $75. (3 delegates x $25).  And the same for the Mandatory Registration for the Fall Meeting – $75 (3 delegates x $25).
  • You will be mailing your dues to the new Region Treasurer.

In closing – I have been honored to serve as your South Central Region Treasurer the past two bienniums.  Thank you – it has been wonderful to serve the South Central Region.  I highly recommend it.  I encourage you to volunteer to serve on a Region/District committee. 

Please call me or email me with any questions.

Respectfully submitted.

Kathy Newsom, CPA
2018-2020 Treasurer
South Central Region, S.I.A.
Ph. 316-371-4306

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