johniew398
Enthusiast
Sorry; but the tax return just shows general categories. The actual treasurer's reports that have to be entered into the minutes of meetings would show the actual expenditures and who the checks were written to. This is a club. Most clubs readily publish the meetings of the minutes, what was discussed and anything voted on. It would make sense for the officers to post all meeting minutes and treasurer's reports on-line now. I think those would clear up a lot of questions. But, my guess is they won't. I've seen posts going back as far as 2007 where someone requested a report on expenses and was told anyone that attended the meetings could review the check register. REALLY! People have the money to travel to Maryland or wherever when that information could be made available on-line even if it is just in the member's forum? I doubt it.
Everything is being called into question now - and that's either right or wrong; however, publish the minutes and treasurer's reports. I for one would like a breakdown of these expenses:
1. Payments to affiliates: we don't know if those are payments to the chapters or something else.
2. $36,000 for insurance? What kind of insurance. Seems awfully expensive even if it is liability insurance for VOI, etc. Does that include D&O insurance which covers the board and officers for anything they do?
3. VISA and Bank Charges: $34,000. Probably totally within reason; but I have no way of knowing. Is that for credit card charges. I think Discover charges the most 4% per transaction.
Is part of that for interest on a bank loan??
4. Now this one really needs details to explain: All other expenses: $53,531.
All of this can be answered by publishing the minutes and the treasurer's reports.
