At PRSA Houston's November meeting of the Board of Directors, Treasurer Holly Hutchins updated the board on the Chapter's finances.
Through November 16, 2004, PRSA Houston has posted year-to-date revenue of $116,502. Income has been running significantly ahead of projections due to the outstanding performance of our two flagship annual activities: the Excalibur Awards and PR Day. On the flip side, income from membership dues is running almost 25 percent behind projections.
Expenses year-to-date total $94,752.
Therefore, the Chapter's net income year-to-date is $21,750.
We continue to maintain healthy reserves that total more than the recommended 40% of our annual budget. As of November 16th, the cash balance in the Chapter''s money market account totals $32,286.24 and the PRSA checking account has a balance of $23,038.61. Therefore, our total cash reserves are $55,324.85.