Initial Financial Position

by Justin Ford, Chief Financial Officer

1st May 2017

I would like to give a little background on myself before we dive right into the important stuff - the money. I graduated from the University of Washington, now 10 years ago, with degrees in both Economics and Statistics with emphasis on Finance, Accounting, and Math sub categories. Since finishing college I have spent the 10 years in the restaurant management business which requires a significant amount of attention to the business details from reviewing payroll, invoices, financial statements, to budgeting. I changed careers recently last year and now working as a Personal Banker for Washington Federal headquartered in Seattle, WA dealing with business/consumer accounts along with processing loan applications for consumer lending transactions. In terms of Trek, I started playing 1E when the game debuted back with the first set of Premiere and continued playing along with Star Wars & Magic until entering college in 2003. Stopped playing but continued my collection through hill's wholesale gaming and picked everything back up in 2013 when I came across The Continuing Committee. Alas, here we are to today. Trek has allowed me to meet some wonderful people and spark friendships that would otherwise never have happened from London, to Sydney, and Cape Town.

Now without further delay as of 4/1/17, we have switched to a brand new Paypal account that I will be managing with a small contingent of funds in the old account to cover any residual reoccurring charges that are in process and won't switch over until finished processing. There are three main reoccurring charges that we face as an organization they are: the website, smart sheet app, and stamps.com. Beyond the big 3 we have expenses for purchasing the foils and supplies to make the tournament kits . There was an audit conducted on the old Paypal account prior to the change over and it was revealed that a balance of $1533.74 is owed to the organization by Charlie Plaine from comingling and no fault of his own will be paid back over the next 3 years at $48.99 per month for a total of $1763.64 to have included interest from the original amount. This will further be noted as a receivable on statements that will be produced on a monthly basis. Here is the rough breakdown of where we stand as of right now: The old paypal account has a balance of $338.61 (less $142.17 for April's website expense) for any additional costs still tied to the old system. That leaves a balance of $196.44 Carry Over Balance into the new PayPal account = $1209.55.

Monthly Reoccurring Expenses are as follows:

(1) Website / Domain charges = $129 + twice a year $21 in domain charges

(2) Smart sheet app which is a project management app used on the design side = $19

(3) Stamps.com monthly fee which provides discounts on shipping = $15.99 TOTAL = $163.99

Other Expenses:

(1) Buttons roughly every 2 months

(2) Tournament Series Kit Foils

(3) Regional, Masters, Continentals, Worlds Foils

(4) Supplies to create / ship foils

This is only a rough standing of where we are at. We will have a more concrete statement that is specific each month after balancing the account for the prior month. I am also working on numbers to come out with an annual budget so everyone will be able to see what kind of annual cost we incur to keep the organization and its activities running.

If anyone has any questions by all means I am here via PM which I check at least 6 times a day to ensure speedy responses to any inquiries or comments about what has been reported.

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