- E-tabs started the year with a good bit of dichotomy: sales were soft at $90K (last year avg = $127K) but the gross profit margin was crisp at 17.80% (last year avg = 15.03%), delivering gross profits of $16K
- Paper tabs had a slightly better showing as sales reached $60K (last year avg = $63K) while the gross profit margin fared slightly better at 19.09% (last year avg = 18.65%), producing gross profit of $11K
- Bingo was the top performer to kickoff the new year, registering $12K in sales for gross profits of $3K on a 22.34% margin
- Fusing all the information and factoring in some operating costs, FRYS kicked off the year with a healthy $13,507 in net income, which is a wonderful start to the year
- Without getting too technical, FRYS is unable to use last year’s profits to fund programs in the new calendar year, and there is no rest for the weary at FRYS as commitments hit immediately in September with funds need for Strive and Warm Our Community ASAP
- Of course, now that the calendar year is over, FRYS is now in the process of the annual audit. Last year the annual audit cost went up by ~12% but no word on what costs will be this year
- Last but not least, FRYS had a surprise inspection at Boxers the other day
- The organization cleared the hurdles and was complimented for the job it is doing as there were only a couple of minor modifications needed to keep the bureaucrats satisfied
- Such success in the inspection is due to our gambling manager Brenda DeMars as she is the one delivering the wisdom, leadership and strategies needed for the day-to-day operational excellence at Boxers
The following expenses were approved for November 2024 - GG Made Easy = $250
- Inventory = $4,500
- Slight decrease due to purchase at the end of August in preparation for year-end
- 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 = $34,750
- On a motion by Cindy Yerington & seconded by Laura Bock, FRYS membership approved expenses for October 2024
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