Membership Benefits

The following is a list of some of the benefits our members enjoy

• Monthly membership meetings with outstanding local speakers on fishing, tying, rod building, marine conservation, and exotic fishing trips worldwide.
• Free fly casting, fly tying and knot tying instruction.

• Monthly club outings in local fresh and saltwater locales topped off with lunch and storytelling of the day’s catch.
• Joint outings with other local clubs.
• Annual pig roast and auction.
• Charter club membership in the Federation of Fly Fishers and their magazine.
• Free set of member tied flies.
• Copy of Don Coleman’s “Wading the Saltwater Flats.”
• Monthly club newsletter.
• Make new friends and find a fishing buddy for your next outing.

 

2010 Hog Roast

Financial Report

SFF 7TH ANNUAL HOG ROAST AND SILENT AUCTION

Analysis of budget and profile of 2010 income

In addition to the chart, comparing the 2009 and 2010 budgets for the Hog Roast, the bid sheets for the 2010 silent auction were reviewed and included in this report.

 

			2009		2010
Income
	Hog roast tickets		1,410.00		1,890.00
	Bucket raffle		385.00		435.00
	Kayak raffle		390.00		440.00
	Silent auction		1,085.00		2,512.00
	Total		3,270.00		5,277.00
Expenses
	Food, bev, rental, etc		1,043.78		1,156.91
	Entertainment		175.00		200.00
	Trophies		108.02		173.45
	Raffle, misc		151.12		325.81
	Raffle -kayak		281.90		367.00
	Paper, tickets, etc				86.30
	Total		1,759.82		2,309.47
	Net gain/(loss)		$1,510.18		$2,967.53

 

Silent auction items for 2010:

Items	#of bid items	Range of bids (low – high)	Total Income from Items
Guided Trips	5	($125 - $225)	$790
Flies	30	($5 - $60)	$533
Rods, reels, line	8	($22 - $100)	$372
Earrings	8	($5 - $20)	$98

 

 

Financial Audit Report

Year ending 12/31/2010

SUNCOAST FLY FISHERS

FINANCIAL AUDIT REPORT

2009

 

 

INTRODUCTION

 

At the request of the Board of Directors of the Suncoast Fly Fishers (Club) and Ken Hofmeister its President, an audit was performed on the books and records of the Club.

SCOPE AND OBJECTIVES

The purpose of the audit was to insure that the books and records of the Club are being maintained in accordance with generally accepted accounting principals, that the statements provided to the Club’s Board of Directors properly reflect the financial activities of the Club, and that sufficient internal controls and documentation exists to support the income and expenses of the Club.

AUDIT APPROACH

 

The Treasurer “Duties and Responsibilities” document was reviewed.

The months of February, March, May, September, and November were chosen as test months.

The Excel program, for the YTD Income Statement, was reviewed and was found to be working properly.

The entries on the YTD Income Statements were compared to the entries on the Monthly Income Statements insuring agreement, and math accuracy of the Monthly Income Statement. Any differences were noted.

The income and expense entries from the Monthly Income Statements were traced to their source documents which included cancelled checks, deposit slips, and other source documents deemed appropriate.

A “List of Exceptions” and a “List of Recommendations” were prepared. (See Attached Schedule I and Schedule II)

CONCLUSION

 

The “Duties and Responsibilities” of the Treasurer more than adequately provides a description the activities of the Treasurer and how the books and records of the Club are maintained. This document is sufficient to act as the processes and procedure given the size of the Club and that the position of Treasurer is volunteer position.

The books and records are maintained in accordance with general accepted accounting principals given the size of the Club, the statements provided to the Club’s Board of Directors do properly reflect the financial activities of the Club, and that sufficient internal controls and documentation exists to support the income and expenses of the Club.

 

AKNOWLEDGEMENT

 

We wish to thank Tom Gadacz for his time and effort in serving as Treasurer, assisting in audit, and having the books and records in such fine condition that a minimal amount of time was required to complete the actual audit process.

 

                                                                                                                        AUDIT COMMITTEE:

                                                                                                                

                                                                                                                      

Joe Dail-Member-Board of Directors

Al Pitcher-Member at Large

                                                 SCHEDULE I

 

SUNCOAST FLYFISHERS

FINANCIAL AUDIT

2009

List of Exceptions

 

 

1. For the YTD Income Statement, line 20 is included in the Excel formula used for the sum of expenses; the line used should be Line 21. No financial consequences since Line 20 has no financial value associated with it. However, formula should be changed.

 

1. March entry for the Pig Roast, per the YTD Income Statement does not agree with the Monthly Income Statement; $1158.78 versus $1178.78. Not significant.

 

1. Current Surplus for March, per the YTD Income Statement does not agree with the Monthly Income Statement; $4956.47 versus $1867.51. Therefore, the surplus was understated on the Monthly Income Statement. The difference is the beginning Cash Balance was omitted in the computation of ending cash surplus/deficit for the Monthly Income Statement. This type of math error could be eliminated by converting the Monthly Income Statement or any other document that involves computations to an Excel document.

 

1. The March classifications for Deposits do not agree with the classifications for Income reflected on the Monthly Income Statement; total income and deposits agree. Classification error only.

 

1. No documentation for a March Miscellaneous Deposit of $55.00. Not significant.

 

1. A March deposit for the Pig Roast was missing documentation for $40.00 out of $1370.00. The total deposits for March agree with deposit slips. Not significant.

                                                 SCHEDULE II

 

SUNCOAST FLYFISHERS

FINANCIAL AUDIT

2009

List of Recommendations

 

 

1. Reformat the YTD Income Statement as follows:

               By renaming it an Income Statement rather than a Budget;

               Begin the statement with the Beginning Cash Balance;

               Next followed by Income with each of their classifications;

               Next show a Total Income;

               Expenses will be shown as is on the current statement;

               Add a line which reflects Net Monthly Income/Expense

               Followed by Ending Cash Balance

1. Eliminate the current Monthly Income Statement because this information is already provided on the YTD Income Statement.

 

1. However, continue providing the statement which provides the monthly deposits, by category, the list of checks and cash payments indicating  the check number, payable to, their purpose, and amount.

 

Each of these changes has been discussed with the club Treasurer and he concurs.