At the Annual Meeting, FHA Treasurer Teddie Hathaway presented a statement of FHA finances as of the end of last year, shown below.
The Association met its 2018 budget, which called for a loss as we did not have the Annual Tour. We will be having a Tour in 2019 and have budgeted to get those funds back.
In response to questions, Teddie noted that the FHA’s bank balance at year end was $43,000. She explained that in converting from Quicken to QuickBooks some discrepancies were found. The one-time charge of $9,267.36 reconciles the discrepancies.