This week's informative narrative will be centered on Medical Marijuana. This is a hot topic and we were lucky enough to have Steve Gould an "Expert" on the topic have one of his many influential friends join us to explain Pennsylvania's laws regarding the usage and purchase of this medical """Miracle""". Keep an open mind and lets learn about the positive benefits to regular people and society as a whole.
On a much lighter note two weeks ago we spent a lot of time explaining how the club is doing. Each committee had their chair explain where we are in the year long process. However, one of the areas we did not go over is our budget. So for a few seconds I would like to explain our checking account balances and where the monies are earmarked.
We have two checking accounts: one a regular club checking and one set aside to provide a scholarship endowment which is expected to be at $200,000 by our centennial (in 2026)to provide scholarship's for East Penn students into the future. Presently there is Approx. $46,000 in the scholarship account. The regular checking account is around $42,000. The beef and Beer fund raiser will used to help grow that fund this Rotary year.
From this regular checking account we will have $20,050 ear marked to be spent for local and international projects. Leaving just over $22,000 in the checking account and from that amount we will be spending over $5,000 for Polio Plus, Shelter Box and Food service projects. Please understand that because we show a large amount in our balance at board meeting time but in essence we only have access to approximately of $17,000 which is not accounted for. For prudent financial management it was suggested by our Financial committee that we should always carry a balance of at least $20,000 in our checking account at any given time. I feel we are good stewards of our monies and the board is always open to looking at and or considering differing projects for the incoming President. As always if you have any questions concerning the budget or our balances on file, please feel free to ask anyone on the executive committee or the treasurer.
Yours in Service
Rick Zayaitz