FLACARS Financial Report

Following last years convention the corporation’s capital account was in the black to the tune of $1800. $1K of that went to pay our accountant RJ Monti, PA. The fall newsletter cost was $212.00 to print and $300 to post. The annual report to the state, change of corporate name to FLACARS and registration of the three DBAs (Florida Association of Licensed Repossessors, Florida Association of Licensed Recovery Agents, Florida Alliance of Certified Asset Recovery Specialists) depleted the black funds. The capital account grew to $5000 with the addition of four new share holders bring the total shareholders to ten. We began investing those funds into next year’s convention by making a deposit with the Embassy Suites in Tampa, printing tri-fold brochures which will be mailed out twice. We also paid Allied Finance Adjusters’ Printer for 24,000 single page two color flyers to tag along in their directory distribution. The cost of this mailing was over $2100 of which Repoman.com paid a $1000 sponsorship fee for the bottom 20% of the page.  

The FLACARS Directory drive is well underway. Several thousands of dollars have been invoiced out. The deadline for inclusion in the directory will be discussed and voted on at the Semi Formal dinner in August ’04. Fee for Class 4 membership (directory) is $200 per company, extra locations @ $75 each.  

Alliance funds generated so far are $8400. The 60% ($5000) designated for lobby efforts were paid to the lobbyist. The 20% designated for growth and the 20% designated to the Officer’s discretion is still on hand and has not been touched.   

Thanks go out to Debbie Martin for volunteering to take over the FLACARS Managers position. She has been working very hard to organize the records and create a positive workflow along with helping boost interest in membership.  

Manager’s Financial Reports will be posted on the website.