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USCTA
Treasurer’s Report 2008-2009
The Association’s financial condition
remains excellent. On
the positive side, our membership
levels held constant at the
700-plus level. As a result, our
dues income was at the approximate
level as last year. However,
revenues decreased from the
prior year primarily due to a 40
percent reduction in our auc-
Arnold Spangler (USCTA Treasurer) tion income as a result of the
economic climate. Additionally,
we received no grant income for the year. Yet in the coming
year we will probably receive some funding.
Our expenses remain under control. Our overall expenses
decreased by over 20 percent from the prior year
due to our conservative spending. Our tournament and
prize monies were in line with our expectations. On a
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going forward basis the Association decided — subject to
our cash position and overall financial health — to increase
our commitment by 25 percent to the US Open, National
Open, and US Pro Singles for the Schochet Cup tournaments.
During this past year, we also contributed to the US
Ladies’ Open and Ladies World Championships. Our other
expenses were in line with our budgeted amounts. Finally,
we plan on maintaining a healthy cash reserve (now in excess
of $50,000) to handle any cash flow deficits or emergencies
that may arise. We plan to continue our conservative
spending in light of the current economic climate.
On behalf of the Association, the Board would like to
thank you, our members, for your past contributions and
look forward to your continued support in the New Year.
Respectfully submitted,
Arnold E. Spangler
Treasurer
Whitney Team Champions, New England. A. Walsh, J. Damon, S. Herlihy, J. Wintersteen, D. Spear, M. Porter, P. Winthrop, G. Bell, J. Pardee and R. McLane. photo by Michael Do