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RCSC leaders attribute 2024 shortfall to timing, weather and budget assumptions; board pledges clearer monthly reporting
Summary
Board and finance staff told members the apparent $1.6 million shortfall cited publicly reflected budgetary assumptions and timing; on a cash basis RCSC finished 2024 roughly $9,000 in the red. Management said it will accelerate monthly reporting and tighten expenditure oversight.
Treasurer and finance staff addressed member concerns about a reported large shortfall for 2024, saying much of the discrepancy reflected differences between budget targets and actual cash flows and the timing of recorded expenses.
Members had circulated figures that the corporation was $1.6 million “in the hole.” Treasurer Borsky and President Tom Foster said the larger figure compared budgeted expectations against actual results; Foster said on a cash basis the corporation ended the year with a net deficit of…
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