Ruritan Annual Report 2022-2023

National Treasurer’s Report As we look back at the results of the fiscal year, I would like to express gratitude to the Board and, in particular, to Past National President Frank Guthrie for their dedicated efforts in focusing on the collection of dues in arrears. This initiative has played a crucial role in improving our cash flow, contributing to a more stable financial position throughout this year. Each of you should be cognizant of your Club’s efforts in paying quarterly dues in a timely fashion to assure your Club is staying current in its obligations.

The Budget and Finance Committee deserves commendation for their effective income budgeting. Their meticulous planning has ensured that our financial resources were utilized wisely, leading to a positive impact on our overall financial health. However, it is important to highlight a significant factor that contributed to our positive bottom line—Ruritan Forever’s income. While this income has indeed bolstered our financial standing, it is essential to note that these funds are restricted for endowment purposes and cannot be used for regular operating expenses. The remarkable success of the Ruritan Forever program, with an overwhelming surge in participation during October-December 2022, led to an income that surpassed our initial budget projections. Upon deducting the Ruritan Forever Income from the bottom line, the organization posts a loss in an amount close to $20,000. While this is better than the initially approved budget shortfall of $32,000, this realization underscores the importance of solidifying our income stream and finding sustainable solutions for our financial stability. Regrettably, we find ourselves in a challenging position due to the historical decline in membership and a substantial increase in inflation. To address these issues, the Board is compelled to propose a dues increase for the 2024 year. However, it is important to recognize that a dues increase is a temporary solution—a band-aid for our financial challenges. The real remedy lies in fostering growth within our organization. With the average inflation rate at 5%, it is imperative that we grow at a similar rate to maintain financial equilibrium. Unfortunately, cutting expenses without compromising the quality of membership benefits is no longer a viable option. Therefore, our focus must shift towards strategic growth initiatives to ensure the long-term health and stability of our organization. In closing, I extend heartfelt thanks to the Budget and Finance Committee for their unwavering commitment and countless hours spent in preparing and presenting the budget to the Board. Your dedication has not gone unnoticed, and we appreciate the grueling effort that has been invested in this crucial task. I want to say thank you to each of you for allowing me the opportunity to serve as your National Treasurer. Going forward, as we navigate the challenges ahead, let us collectively work towards a sustainable future for our organization, marked by growth, resilience, and financial stability.

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Ruritan National 2023 Annual Report