$49,444.00 !

[T Baggins]

$49,444.00 !

The MRA Board of Directors is pleased to announce that we have made the necessary changes / adjustments to our business operations which will save the club $49,444.00 this year!

Specifically we have saved the club money in the following areas:

2009 Banquet $6,500 savings compared to 2008 Banquet

2010 Trophies $3,900+ savings compared to 2009 trophy cost

Liability Insurance for 2010 $4,500 savings by "shopping insurance"

Verizon $1350 savings (wireless cards no longer needed)

Printing/Mailing License Apps and Packets ~$1,000 savings

ROR Payout Structure $22,000 savings

Trophy Sponsor Sales $1,394 (all classes are sold for 2010!)

Corner Crew Cap $8,800 (workers capped at 22 now, instead of 32)

As we move forward into the 2010 Race Season, we will definitely continue to look for opportunities to reduce costs - but to be honest we're running pretty lean... and we'll never put cost savings in front of safety or producing a quality race program.

In years past the MRA Board hasn't done a very good job of letting the membership know "what" we're doing in the off season. Apparently it's just been assumed that we all sit and wait for race season to start and then we get to work... Obviously this has never been the case, as there is always much to do between October and April - but I think this year we've been truly exceptional in our efforts to ensure a successful 2010 Race Season.

My sincere thanks goes out to the MRA Board Members (as well as the many other Club members) who have played a part in this significant effort! We'll see you all at the races here SOON!

[glenngsxr]

well done to the board as a whole!

[Munch]

Kudos to our hard-working board members!

[cromer611]

that means MOAR BEER!

[Desmodromico]

Well done! Definitely hasn't seemed quiet to me, since the elections you all have been on a tear with lots of energy and ideas, thanks to Tony and the rest of the board!

[N1K]

GOOD JOB LADIES AND GENTS!!! All this helps secure the clubs future which is hard with the way things are in the world right now. Good Looking Out. With out your hard work we would have no where to have this fun.

[oldtimer]

that means MOAR BEER!

Werd!

[T Baggins]

The question has already been raised by a member:

"If the club is saving nearly $50,000 this year, why did you raise license and entry fees?"

This is a valid question, and deserves a good explanation.

First, "saving" $49,444 is not the same as "having" $49,444.

We do not have $49,444 - we will save $49,444. See the difference?

Today, right now, at this very moment - we have $65 in the bank. Sixty Five. Six Five. A six and a five. Five less than Seventy.

Unfortunately in the next two weeks we will need to pay out nearly $15,000 in track rental and deposits, insurance, etc. And obviously the $65 we have in the bank today isn't going to cover that.

So, that means that some of your Board of Directors will be ponying up that money out of their own pockets (again...) so that the MRA can "have" a race season and "save" the $49,444 over the course of the season.

In years past we've carried over as much as $35,000 from one season to the next, and in other years we've started the season broke (as we're doing this year). Last year we started the season with a pretty good cushion after licenses were in, etc... and ALL of that vaporized after two bad race weekends.

We simply cannot allow something like that to happen again in the future. So it is my hope that the small increase in fees (will be less than $15,000 for 2010 - or an average of about $75 per racing member) AND the cost savings measures we've put in place will allow us to establish a "cushion" in our operating account of $50,000 over the next two years.

$50,000 will "almost" cover the cost of putting on two race weekends. This way, once we establish the cushion, if we dip into it at any point - THEN we know to ring the alarm bells and it gives us some time to figure things out before we wake up one morning bankrupt like we did last July.

So, hopefully that adequately explains the difference between "having and saving" and "why we raised fees for 2010".

Please holler at me directly or post up if you have any questions or concerns.

[oldtimer]

RRW coverage of the MRA's 2010 financial planning...

http://www.roadracingworld.com/news/article/?article=39583


We're not out of the woods yet, but are hard at work to emerge from last year's financial crisis. Thanks to all the members who are contributing, from participating at events, to promoting the new superstreet program, to getting the word out about our series in general, you're doing a great job. We're all working together for a successful 2010 season!

[N1K]

I love it it's cool to see peoples excitement and interest when telling them about the club. Amazed at how many people don't know about it. I truly am blessed to have been introduced to the club. Thanks Pops thanks Merle!!

[Desmodromico]

Perhaps a pie chart would better illustrate our situation....

http://www.whiterose.org/pete/blog/piechart.jpg

[T Baggins]

and the crumbs would be:

"The money currently in the MRA checking account." :cry:

[Desmodromico]

Ahh but soon we will have pie....lots of pie....who's ready to do some race registrations? :D