Ridge Runners Inc.

“Expenses supplies 124 postage 202 advertising 1,287 meetings 41 insurance 7,439 membership expenses 3,624 repairs & maintenance 530 vehicle expenses 797 bingo 314 interest exp - re loan 717 dues & subscriptions 100 misc expenses 50 non-investment depreciation 30,809 total 46,034”

“Equipment 301,409 312,333 less accumulated depreciation 157,751 114,535 lqp co-op oil equity 98 78 total 143,756 197,876”

“Notes payable 12,000 12,000”

“Maintained, groomed about 250 miles of snowmobile trails. Purchased and installed signs for trails. Printed and distributed trail maps. Trails are maintained using club-owned groomer and trail sled. Grooming is done once a week when snow is on the ground using volunteer labor.”

“A motion was passed by the board of directors to change the organization's bylaws with respect to term limits for the secretary and treasurer positions. The previous bylaws limited these positions to a two year term upon which a new person would need to fill the office. The motion that was passed continued the two year terms but allow for an unlimited number of terms for the position if the individual is re-elected.”