Todd asked me to send out this week's email.
the Evergreen Lot next Wednesday at 5:00.
Also attached is the LPTR 2008 Treasurer's Report.
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.
Respectfully submitted,
Jeff Mallach
Treasurer
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
| LPTR Receipts during 2008 | |
| Contributions for current expenses Membership Dues Interest Income Miscellaneous Reimbursements Fund Transfer Designated Funds | $0 0 0 0 0 |
| TOTAL FUNDS Received in 2008 | $0.00 |
| LPTR Disbursements during 2008 | |
| Salaries and Benefits (Less payroll Liabilities) Utilities Property Administration Outreach Program | $0 0 0 0 0 0 |
| TOTAL DISBURSEMENTS | $0.00 |
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