Erie Ski Club Inc

Schedule O:

“Part 116 - Administrative expenses include meeting costs, bank fees, postage, insurance. Part 3 - The ski club board is all volunteer. Explanation of Revenue and Expense Timing Related to Ski Trip During the final two months of the 2024-2025 fiscal year, the club received $54,400 in payments from members for the Norway ski trip scheduled to occur in the following (2025-2026) fiscal year. Additionally, $13,800 in deposits were paid to the travel agent in advance to secure accommodations and transportation. These amounts are included in the current years revenue and expenses due to the use of the cash basis of accounting. This ski trip is approximately twice the cost per participant compared to previous trips, reflecting expanded offerings and upgraded accommodations. The remaining trip-related expenses will be incurred and reported in the 2025-2026 fiscal year. This timing difference may result in a temporary surplus in the current year and a corresponding deficit in the next year. The club maintains adequate reserves and financial oversight to manage such fluctuations.”