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Annual Financial Summary

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My goodness this year has gone by fast! I wanted to provide an update on the finances of the Houston Gulf Coast Chapter for the year. I’m going to highlight some of the major expenses for the year and close with a summary of the current Houston Gulf Coast Chapter’s assets.

This year, the Houston Gulf Coast Chapter hosted a social for its members at Top Golf. This event was free to members. We rented out bays for 30 people and played a few hours of golf. Furthermore, appetizers were served and there was a raffle with prizes. The total cost for this event was $4,214. This was the largest expense outside of the monthly meetings.

As many of you know, we changed the venue of our monthly meetings to the Maggiano’s at Memorial City Mall. Maggiano’s charges $32.95 per person, as well as a $60 A/V fee and a 3% event fee. The total cost of our October and November monthly meetings were $1,330.13 and $1,468.00, respectively.
Below is a summary of the current Houston Gulf Coast Chapter’s assets.

  • Checking Account: $6,558.70
  • Savings Account: $8,909.10
  • CDs: $23,952.04
  • PayPal: $1,286.51
  • Total: $40,706.35

If you compare to the beginning of the year, our cash on hand is down by approximately $6,254. Most of this is due to the Top Golf Social, and the September meeting which got rained out due to Tropical Storm Imelda.

The Houston Gulf Coast Chapter’s financial position is still incredibly strong. The board will continue to look for opportunities to invest this money back into the chapter to promote the structural engineering profession and to help grow the chapter. If you have any input on this matter, please reach out to me.

I hope to see you next year!

Regards,

Daniel Pearson, P.E.
Houston Gulf Coast Chapter Treasurer
dpearson@wje.com