2025 SOCO Finance Committee Report

Southern Conference Finance Committee Report 2025

Sharon Montgomery (65-699 Houston), chair; Mike Scialabba (389 Orlando), Peter de Boor (161-710
Washington DC), Bill Johnston (148-462 Atlanta), Riely Francis (23 San Antonio)

The reconciled balance as of the close of the fiscal year (5/31/25) is
$23,622.97

The balance as of 6/19/25 is $24,222.97.

Income
Per Capita $ 6,044.00
Registration $ 7,000.00
Total Income $ 13,044.00

Expenses
Conference $ 7,202.72
Honoraria $ 1,500.00
Office $ 83.16
Travel $ 996.58

Total Expenses $ 9,782.46

Net Income $ 3,261.54

The expected expenses of the 2025 annual meeting is around $7000. So the expected remaining
balance is around $17000.

Recommendations

1. That the Secretary-Treasurer place a reasonable amount of the assets into an interest-
bearing account.
2. That the Secretary-Treasurer invoice locals for per capita dues and one delegate’s
registration in early April, with a separate invoice for additional delegates.
3. That the Bylaw Committee consider a bylaw amendment imposing a late fee on locals that
don’t pay in time to reconcile the finances for the fiscal year (possibly mid to late May).
4. That the Bylaw and Finance Committees have a joint meeting to consider changes to the
bylaws to address potential excess accumulation of assets by the Conference. This
committee finds that a baseline balance of $15,000 would reasonably cover anticipated
annual meeting expenses.