QBARS - v19n4 Change in ARS Fiscal Year

Change in ARS Fiscal Year

The American Rhododendron Society fiscal year, for a long time past, has ended on April 30. This has meant that our accountants have had to rush in order to get the yearly audit ready in time to be presented at the Annual Meeting. Furthermore, our accountants state that it would be more logical to have the fiscal year coincide with the calendar year inasmuch as our dues, advertising schedule, and other activities run on a calendar basis. Accordingly the Board of Directors approved a change in the fiscal year and that change has been approved by the Internal Revenue Service.
Another advantage of working on the calendar year basis is that the April 30 audit date has always found us at our peak of financial standing. At that time most of the annual dues have come in and only one printing bill for the Bulletin, the January issue, has been paid. By the January 1 audit (late the full past year's bills have been paid and the dues for the coming year have just started to come in. The cash balance at that time will be at about its lowest point for the year. This gives the members a truer picture of the financial situation of the Society than does an audit made at the time when nearly all the dues have been received but most of the year's bills are yet to come.