In this address:
- Copier Contract
- District 1 Executive Committee Changes
- Hagerman Valley Grange
- Granges Helping Granges
- More on Financials
Here we are in the middle of the winter and it is nothing like last year yet. Those of you up north seem to be getting the snow while the southern part of the State gets a couple inches and then it gets cold.
So that you can get an idea as to our financial status I will be giving you an idea as I see it as of now. As I am supposedly responsible for there not being a budget presented at the last Executive Committee meeting in December as required by the resolution presented at the annual Session in October, I will attempt to bring you up to speed on that as well.. According to the Worthy Treasurer our expenses are close to $10,000 a month, I think it is lower closer to $7,000, but you can use what ever figure you want I will be giving you numbers in round figures.
We had $11,000 in savings that is now in the State Grange checking account and has been since December. We have a CD of $22,000 that matures in 2020. We had a CD of $15,000 that matures in 2023, but I think that was already taken out and put in the checking account, however $5,000 of that is to be returned to the Locust Grove Custodial Account. A Custodial Account is one that can NOT be used, because it has to be held for 7 years and the Locust Grove Grange closed in March 2014, 7 years added to that the money would not be assessable before 2021 without special approval. It was decided that all the interest and capital gains and savings accounts from closed Granges not affiliated with another Grange can be used, this would total about $14,000. The two Granges that fall into this would be Cloverleaf who closed in July 2012 and Locust Grove who closed in 2014. Currently we get around $1,200 interest every month from the church that bought Locust Grove Grange, rent from the apartments of $1,400, quarterly reports around $2,500 every 3 months ($833.33 each month). Income of about $3,433.33. We do have some donations, but nothing we can count on as a steady income. Office “B” is still empty. I will not allow anyone to rent office “B” long term, month to month is okay, especially for only $750 a month when 3 property managers and a Realtor recommended no less then $1,400 per month. If we were to have to sell the new owners would be required to honor the contract which would lower the selling price, so for that reason I have taken that position. So the available money as of right now counting first what has been put into the checking account which I will know more in the next week is around $22,000 and $22,000 CD (matures in 2020), Interest and Capital gains would actually come closer to $15,000. This totals about $59,000, enough to last about 6 months. The next available money would be the Pierce Park Grange 7 years would be up on September 30th and that would be $60,000 (6 months worth). If we spent all the money we have we will be broke in 37 months, no CD’s, no savings accounts but we would have an office and duplex apartments.
We are working to get out of a copier contract that was signed in September 2016 for 5 years at a cost of about $10,000. This is going to cost the State Grange to get out of that contract $3,700+ to U.S. Bank and we don’t know the cost from Valley Office Systems until; 30 days have passed. We did get a free copier from some people on Craig’s list that is a much better copier and will do more things then the copier that has been costing us over $150 a month. It isn’t new but seems to be working fine. The JOP will be available no more then 2 per family. There were no changes to the Constitution/By-Laws so they will not be sent out again this year as I stated last January.
Only slight changes in the Roster- Dallas Chaney resigned in June, Bill Grant took his place until October when Wayne Foster was elected as District one Executive Committeeman.
Hagerman Valley Grange has closed, but prior to their closing they gave their CD under the (Granges helping Granges) program to 2 other Granges. Edgemere was to get 1/2 and Kuna the other 1/2, but Kuna could not decide if they wanted to accept the money so Hagerman members voted to allow the State Master to decide where the other 1/2 went. I decided that the lowest bid to refurbish the logs on Edgemere Grange was $20,022.08. They would get the 2nd 1/2 of the Hagerman Valley CD which totaled $19, 000+ dollars leaving only $405 to come from the Bright Trust, also available to Granges in District III. The Bright Trust has helped pay for a sewer system at Blanchard, a sewer system at Clearwater, a water pressure tank at Edgemere and a small porch on Mica Flats Granges. Several other Granges from District 3 have expressed a need, but nothing has been presented. We currently have over $12,000 in the Idaho State Grange Foundation, which I have advised the state treasurer to put in a separate account, because it appears the Foundation is the only 501 (C) 3 we have. So I have asked the Treasurer to place all the combined account funds in the Foundation where people can donate to and take off their taxes if they need a write off. The Foundation actually does not exist as far as the IRS is concerned, because it did not qualify as a foundation, but still qualifies as a public charity organization.
More on the financial situation- The $15,000 CD mentioned earlier is in fact Custodial Money and should all be returned to the Locust Grove account. On December 27th a $54,000 CD in the Locust Grove Account matured at Idaho Central and was withdrawn and deposited in the Wells Fargo checking account on or about January 4, 2018. Then a check was issued to Ed Jones for $53,000+ with the difference being over $1,000 interest. Also, on 1/4/18 a withdrawal was made of $3,905 interest from Idaho Central CD Accounts and deposited in the Wells Fargo checking Account. The total amount of money deposited in the Wells Fargo checking account as of 1/24/18 was around $141,000. I have since asked the Worthy Treasurer to advise me /us as to where all this money came from and if some of this money was Custodial Money or money in CD(s). By the end of January the checking account was about $40,000 with $15,000 of that being Custodial Money from Locust Grove and possibly interest coming out twice and put into Wells Fargo checking account. On 1/22/2018 a $10,000+ Locust Grove CD matured and was supposed to be deposited in Ed Jones as voted on by the State Grange Executive Committee. I happened to be at Idaho Central CU on 1/31/18, because that is where my personal accounts are and I asked if that CD had been withdrawn before it was to be placed in another CD February 1 for 5 years. It had not been withdrawn, so I withdrew the CD $10,000+ and hand carried the cashiers check to Ed Jones where it was deposited along with the other CD’s of Locust Grove.