Attached for your review is the Q1 2023 Hickory Velo Club (HVC) Income-Expense Summary.

We began the year (and the quarter) with a balance of $1,194.38 in our Horizon Bank checking account.

For the quarter, the club had income of $1,109.37 and expenses of $999.55.

Of the income, $867.09 was a result of membership fees (new members and renewals), while the remaining $242.28 was an anonymous gift provided to the club to cover the first year of our Ride with GPS (RWGPS) subscription.

The expenses included the aforementioned RWGPS subscriptions ($250), our club’s annual insurance premium ($746.55) and our final paper bank statement fee ($3).  [As an aside, we switched to electronic banking at Horizon Bank and will not be charged this fee moving forward.]

We ended Q1 2023 with a balance of $1,327.84.

If you have any questions regarding this summary, please let me know. My contact info is below.

David Metz
Hickory Velo Club
(865) 368-2506