Attached is a summary of income and expenses incurred by the Hickory Velo Club (HVC) during the quarter ending June 30, 2023.

Some highlights:

  • We began the quarter on April 1, 2023 with $1,327.84 in our account at First Horizon Bank.
  • Expenses, net of fees incurred by using PayPal as the conduit for membership payments, totaled $660.78.
  • During June, our account had some fraudulent activity in the amount of $260.90 spent by an unknown individual on Amazon Prime. Horizon Bank was notified immediately and canceled the compromised debit card (which turned out to be the one issued to me) and launched an investigation. Happily, I can report that the bank reversed the charges completely. I was also issued a new debit card.
  • So, our actual club expenses (again, net of PayPal fees) for Q2 2023 were $399.88. This total was comprised of two charges: a $299.88 annual renewal fee for Siteground Web Hosting to host our club’s website, and a $100 membership renewal fee from the League of American Bicyclists.
  • Our club’s income for the quarter, not including the Horizon Bank fraud reversal, was $554.32. This reflects 17 individual renewals ($401.88) and four family renewals ($152.44).
  • We ended the quarter with $1,482.28 in our account at First Horizon Bank.

Review the attachment at your convenience and let me know if you have any questions regarding the club’s financial status.

Respectfully submitted,

David Metz


Hickory Velo Club, LLC

(865) 368-2506