Attached is a complete summary of income and expenses experienced by the Hickory Velo Club during the quarter ending Sunday, March 31, 2024.

Some highlights:

  • We began the quarter on January 1, 2024 with $2,275.96 in our Horizon Bank checking account.
  • For January, February and March, the club had income of $1,319.80 and expenses of $1,020.00.
  • The club expenses were for our annual League of American Bicyclists membership renewal ($100) and our annual club insurance premium ($920.00).
  • Of the $1,319.80 income, $719.80 came from club membership renewals (that figure, as a reminder, is net of PayPal fees) and $600 was a result of sponsorship income related to our new HVC club jersey (Novel Taproom and Carolina Pedal Works, specifically). Our other sponsors (Lightning Cycles and Rock ‘N’ Road Bikes) paid their respective sponsorships prior to December 31, 2023.
  • We ended Q1 2024 with a balance of $2,575.76 in our bank account.

Please review the attachment at your convenience and email me directly if you have any questions regarding the club’s financial status. My email address is below.

Submitted by,

David Metz

Hickory Velo Club

(865) 368-2506