In this issue:
January 12th, Monday, 6:00 PM Board Meeting @ Birdcage Lounge
February 9th, Monday, 6:00 PM Board Meeting @ Birdcage Lounge
. . . (more to follow in later newsletters)..
Board Elections at the Holiday Party
An election was held on Friday, December 5th at the MANG Holiday Party at Ernesto's in Plymouth. The Executive Board of Directors for 2009 will be:
President: Dino Dinatale
Vice-President: Dave LaPointe
Secretary: Bob Scott
Treasurer: Joe McEvoy
This Board will meet on January 12th and appoint the other Club Officers (maintenance, operations, safety/training). The current holders of those Offices have all expressed an interest in continuing in their Office, however other interested members should contact the Board as well.
Also at the Holiday Party, the following members won one hour of flight time as door prizes:
Joe McEvoy
Scott Rigstad
Sam Mekled
Michael Smith
Jessica Patuano
Mario Pecchia
Dave LaPointe
Dale Thorsby
Robb Butts
And John Keck won a bottle of homemade wine, supplied by Dino Dinatale.
Here's a summary of the latest financial report from our Treasurer, Joe McEvoy. This is current as of the end of November. First we have this from the Profit and Loss statement:
Since the beginning of the year we have collected $51,047 in flying fees and fuel surcharges, and $32,560 in monthly dues. That, together with some other income gives us a total income of $87,378. Our major expenses were $25,000 for fuel, $10,725 for hangar rental, $7,467 for insurance, $14,438 for maintenance, $9,908 for Officer allowances (in terms of flying hours), and $8,153 in depreciation of capital assets. This gives us a net income for the year so far of $8,116.
Then there is this from the Balance Sheet:
Our cash in checking, savings, and petty cash adds up to $21,636. Of this, our avionics and engine reserves have spoken for $27,802, which means that our reserve accounts are underfunded by $6,166. But if we add in the $6,310 of accounts receivable (member bills that have not yet been paid), we end up with total current assets of $144. (cash on hand or owed to MANG that is not already set aside for future engine and avionics purchases). Our accounts payable is currently $3,834, and we have a $1,903 credit card balance.
As we reported by e-mail earlier this month, the fuel surcharge for December is $5/hr. Therefore the total charge for flying hours is:
Cessna and Warrior: |
$75 + $5 surcharge = $80 / hour |
Archer: |
$80 + $5 surcharge = $85 / hour |
Here are the statistics for November 2008:
(Total HOURS) |
54115 |
43755 |
33149 |
All Aircraft |
November: |
20.0 |
12.5 |
10.7 |
43.2 |
We had 20 pilots flying. Here are the top flyers in terms of flight hours for the month:
John Souther |
9.2 |
Dale Thorsby |
5.4 |
Paul Fortino |
3.5 |
David Brent |
3.2 |
Mark Calbus |
2.4 |
Ron Rose |
2.4 |