Thanks for the question, Bob.
Balancing the budget at an early and low membership number was the first step to ensuring we wouldn’t go into more debt. Membership continues to grow, with every new member adding to cash reserves that will be used to pay off the debt. As of yesterday we have a surplus of over $10,000. Not huge, but the strong renewal months of March and April are just ahead and will build it further, as will any additional sources of revenue from advertisers and sponsors as we can focus more on those initiatives.
Plans to increase membership and other revenue should fairly easily cover 2023 increased dues sharing to regions and the start of late 2023 finance charges on the debt, plus the beginning of debt retirement payments.
Intensive NVE5 planning is underway, with another presentation last evening, it’s looking very good, and if it’s approved by the BOD next month we’ll have a very strong plan for a very serious debt retirement payment late in 2023.
It took the last few years to incur the debt, and I think we just might emerge from it in less time. All of us are single focused on debt retirement, and that will come about by increasing membership by improving the club experience, and very careful financial management, and we’re going to nail both!
Cheers
