Saturday, September 29, 2012

2012 Mullet Accounting

Updated throughout the lead up to the race and post race to plug in the numbers..


Cash Balance & Income

Carry Over Cash Balance from 2011 Race Entry Fees: $0
Online Registration Fees for 141 racers from RaceRegister.net: $3185
Day of Race Registration Fees for Day of Race Entry Fees: $995
Sponsor Cash: $500


Total Income & Cash Balance: $4680

Expenses

Online Transaction Fees: $350.70
Insurance: $437.50
Toilet Rental: $137.80
Prize Money: $1050
Trucker Hats: $750
Motel for Timers: $81.76
Bike Number Plates: $ 0 (enough leftover from last year)
51 Resource Revival Award Medals and shipping: $329.73
Alan Avery Fee for Timing:$738.00
Grilling Meat/Plates/Utensils: $237.58
Water, Condiments, Potluck Supplies: $178.59
Rental Expense (generator, warmer): $50.20


Total Expenses: $4341.86

Income & Cash Balance: $4680
Less Expenses: - $4341.86

Ending Balance from The Mullet Race: $338.14 + $250.86 (a cash contribution of my own)= $589 goes to CITA

Day of Race CITA Donations from Racers:  $411 goes to CITA

Grand Total Check for CITA as a result of The Mullet 2012 is $589 + $411 = $1000!!!!

2 comments:

NRGMTB said...

Correct me if I am wrong, but it looks like the potluck/food was more costly than lucrative even with all the donated food. I'm sure it was something that most people enjoyed though.

Bruce Brown said...

Yes, it always is costly to cook meat. Last year, CITA spent $375 of their own money to purchase the meat. This year - I paid for the meat out of the budget and Julie Kirkpatrick did the shopping for it at Costco. All the condiments, plates, utensils, napkins, bowls, spoons add up.

One expense I am not even showing in the accounting is the death spiral step-in poles, the course marking materials (caution tape and pink ribbon) which I ate as well as a donation to the cause. That's an investment that I can use in future races - so it's okay.

In the future, probably best to pursue sponsorship from either a Hy-Vee or Fareway if a grill is going to take place. Or, just simply go to an all chili, pasta, lasagna potluck that is brought by the racers.

The other option, is to up the entry fee another $5 which would have increased the income to cover expenses by another $860.

Hard to tell which way to go - especially as exhausted as it all makes me now that the event has grown. Nebraska series has sponsorship, and they provide burgers for the racers after a race. We don't have the luxury of sponsorship for the IMBCS series - so most events are low key financially. I think The Mullet has been a good learning experience for all to see what is involved financially to put on an event of its size. Entry fees are higher in Minnesota and Wisconsin (also series with sponsorship), but you have to purchase a burger/brat after the race as those are not provided for the racers.