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Unit 174 Financial Plan

The Unit’s finances have been a topic of discussion among the membership since the NABC Committee had a surplus of approximately $51,000 that was raised by the Unit for the 2009 Houston NABC. The Unit 174 Board met in a special meeting on May 17 to discuss the situation and to plan for the next few years. A broad range of alternative uses for the funds available were considered and the following decisions were made:

  1. Our liquid asset (cash and Certificates of Deposit) target at the end of each year is $85,000. This is consistent with the practice over the past 10 years, will cover normal cash flow cycles and insures sufficient funds in the event of a major loss at one of our Regional or Sectional tournaments. An example might be a major ice storm that results in a big drop in Regional attendance and triggers room night and catering guarantees.
  2. The Board is currently projecting a year end 2010 liquid asset position of $120,000 with current spending policies in place. This represents approximately $35,000 above our target level.
  3. The decision was made to bring this to the target over the next 3 years with an annual plan review each year as the new board takes office.
  4. The 2011 Regional will celebrate the 50th year of Regional tournaments in Houston. The decision was made to allocate $10,000 to enhancing hospitality for this event on a one time basis.
  5. On an annual basis for the next 3 years, the following uses were decided:
    1. Continue the fee reduction to $5 for specified events at Sectional Tournaments. This costs approximately $2000/event.
    2. Consider either additional $5 events or additional hospitality at a Sectional. $2000/yr.
    3. Enhance the programs to attract and retain new players for unit growth by $2000/yr.
    4. Begin a program of table and other asset replacement at $2000/yr.

Thus the basic plan to return the surplus funds to the membership over a period of time was endorsed. The Unit Board began implementation in 2009 and the current Board has agreed to a 3 year target timeframe with specific spending plans.

Your questions and comments are welcome.


Paul Cuneo for the Unit 174 Board of Directors

May 24, 2010