We'll be meeting, as usual, at the Evergreen Lot next Wednesday at 5:00.
Also attached is the LPTR 2008 Treasurer's Report.
If you have any questions, please don't hesitate to
The economic news over the past few months has been unsettling.The prolonged housing slump, tightening of global credit markets and the financial collapse of several prominent investment banks has contributed to a weak U.S. economy and a downturn in the stock market.
I am pleased to report, however, that the Lapham Peak Trail Runners (LPTR) organization remains fiscally strong, due mainly to an unwavering conservative investment philosophy and the diligent and intelligent stewardship of LPTR leadership.
Financial market conditions were especially volatile in the second half of 2008 and valuations declined across most investment sectors.At September 30, 2008, a net unrealized loss of $0 was recognized in the LPTR’s investment account.This net unrealized loss comprises holdings with aggregate unrealized gains of $0 and aggregate unrealized losses of $0.
LPTR entered the 2008 fiscal year with a combined balance of $0 in our checking, savings and investment accounts.Despite the tumultuous economy, the LPTR entered FY09 with exactly the same account balance.LPTR realized no net losses in any of its accounts.
In short, we are as financially sound as we were a year ago.Not many organizations can say that.
A detailed accounting of all financial activities from the previous year is attached, for your information.
ANNUAL TREASURER’S REPORT FOR THE LAPHAM PEAK TRAIL RUNNERS
January 1, 2008 through December 31, 2008
Checking Account Balance - January 1, 2008..........$0.00