The NFFS President's Message for March 2000

Year 2000 budget adopted.

This month's column is dedicated to the adopted budget for the year 2000. The budget was adopted by the new Board of Directors in January and is used to guide our actions for the upcoming year. Accounts are essentially as they have been in the past two years except for one change. This major change is the establishment of special funds accounts. In the past, these special accounts were included in the regular NFFS operational budget, and counted as income and expense. Now, they are set up to stand alone. Your contributions to any of these accounts will be automatically placed in the account you indicate and will earn interest in that account.

The special accounts are:

1. FAI Team Fund account. This is used for providing assistance for offsetting expenses incurred outdoor FAI team. Since this account will not be spent until 2001, only a small contribution is expected this year.

2. FAI Junior Team Fund account. This year is the outdoor Junior Team year. This account is set up to accept contributions to assist with team expenses.

3. Indoor Team Fund account. This year is the indoor FAI World Champs. This account is set up to accept contributions to assist with team's expenses.

4. NFFS Scholarship Fund account. NFFS has its own scholarship program for members who are still in high school. This account has received a transfer to allow payment to scholarship winners in 2000. Contributions to this account from members and clubs will be accepted in this account.

5. NFFS Muncie Field Improvement fund. The NFFS directors voted to expend $25,000 from its investments to improve the field for free flight at the Muncie site. No additional contributions are expected for this account.

If you have questions about this budget, please contact any of the NFFS elected officers.

Bob Stalick, NFFS President.

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