- If you recall, last month’s membership memo featured copious amounts of bad news, culminating in the organization posting a net loss of $(5K) for May à The yin and yang of charitable gambling is on full display in this month’s membership memo as good news is back in style
- E-tabs sales continued its favorable pace, posting $123K in sales over June
- Fun fact, e-tabs sales have been range bound for the last three months with revenues between $123K - $126K
- Hopefully everyone has found their seats on board and buckled in as the excitement starts now as gross profits rose to $22K in June, up from $20K last month as the margin expanded to 18.11% from 15.83%, respectively
- Time to pick up some speed on the Good News Train: paper tab sales rose to $68K in June, up from $52K in May for an increase of 31%
- More importantly, gross profits on paper tab sales nearly doubled to $13K at a margin of 19.43% in June compared to $7K and 13.71% over May
- It ain’t coal that fuels the Good News Locomotive but cold hard cash, so let’s get fueling: Gross profits on Bingo also nearly doubled, summing to $3K in July against $1.6K in June as the margin ballooned to 20.80% from 11.36%
- All of you set in motion this Good News Train with your efforts in the Rotary Raffle à The annual raffle produced sales of $18K, which was down slightly from 2023’s $21K; however, gross profits were still a beautiful $13K in cold hard cash
- Even Ozzy Osbourne could not put the brakes on this Good News Train as FRYS established a new monthly record with net income of $24K in the month of June!!!!
- As a reminder, August is FRYS’ fiscal year-end so there is likely to be a large amount of charitable donations coming up for membership votes but the exact amount is yet to be determined
- Of note, FRYS will be selling pull-tabs and running Bingo at the Blue Collar Festival on August 2nd and 3rd
The following expenses were approved for July 2024 - GG Made Easy = $250
- Inventory = $6,500
- Slight increase for the monthly inventory purchase given FRYS upcoming at the Blue Collar Festival
- CG Team Compensation = $3,000
- MPeters = $12,000
- City of Faribault = $1,500
- Boxers = $10,000
- Misc (coolers, pursues, Bingo team comp) = $2,500
- Total expenses = $36,750
- On a first by Kay Hoaglin and second by Paul LaRoche, FRYS membership approved the expenses for July
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