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WDSB Board Meeting updates: Nov-2023

– Ujjval �treasurer@WestWoodDebate.com�2nd Nov 2023

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Snapshot for WDSB and school funds

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Cash flows through booster fund

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Prudent use of the reserve fund

  • As agreed on during Oct meeting, I have started creating ladder portfolio of US Treasury Bills. The first purchase was made on the night of last board meeting. �
  • As you may see below, $26K worth of booster fund is invested in T-Bill. They will mature at different dates with 5.4x% APR. Unless I stop re-investment, they will stay invested.

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Surplus and Deficit from the tournaments…

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Anticipated receipts and expenses

  • We will have $27,250 committed payment for three consultants during Y2023-24.
  • There will be $475 CPA fees for the Y2022-23 tax filing.
  • There will be $120 DocuSign annual subscription fees.
  • There may be some sales tax payment in Dec-2023.
  • There would be some Google Account and Liability Insurance payment in Y2024. ��
  • We have approximately 101 students. ��=>Total 12 students paid their student-dues via Booster with 9 had 100% corporate match. Received $3,330 donation. Additional $2,950 donation payments are in the pipeline. ��=>There are ~12 more students who will pay in Nov. We hope to get 100-200% corporate match. That may get ~$7,000 in additional donation in the booster. ��=>There are 10-15 students who may upscale from Local/Regional level to Regional/National. That may bring additional donation, if parents use corporate match.

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Additional actions taken

  • Shredded paper based financial document older than 7-years. �
  • Purchased $26K worth of T-Bill with 4-weeks maturity. On maturity, balance will auto reinvest on 4-weeks basis. �
  • Sree has worked with CPA to complete tax return for Y2022-23. I have signed the 990EZ�
  • I have completed 802 form to update TX Comptroller with Y2023-24 board officers.�
  • Henderson started publishing monthly newsletters – �a great way to spread the awareness and word on students’ successes. ��

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Additional action items with clear ownership

  • Websites merging needs to complete. Need to have single site. Chris already worked on it. �I think each member of the board should review the site once ready. Website needs regular updates.
  • UIL event planning?
  • ‘Paid’ Summer camp and other ‘paid’ debate and speech events?
  • Fundraising events?
  • Local sponsorships?
  • Spirit Wear – mostly to have increase affiliation for students and not with profit intention. I think Priya Girinathan may be working towards it.
  • Facebook/Twitter page to spread the word about student’s achievements?
  • Someone should review if Booster club should continue paying Liability insurance and if coverage is right.
  • Need to elect new officers by Y2024-25 year by that could wait till Mar-Apr.

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