Sailing Club of the Chesapeake Inc

“Line 13 - these expenses are payments to local caterers and contractors that service our program services events, such as cruises, picnics, and dinners, culminating in an annual Trophy Dinner Dance each year. Line 16 - These are payments to our online web provider for internet services that are vital to the management of the Club and our communications. Also included are expenses for annual award trophies, insurance, and other expenses related to outdoor events. Line 20 - This is a correction/addition to the prior year's operating fund balance of $30,270. A thorough review of prior years' accounts identified several checks that were written and never cashed. When the internal accounts were corrected for these changes, the operating fund balance at Y/E 2021 was increased by $9,033 to $39,303. Part II, line 24 - this is an inactive savings account that is maintained as a hedge against financial emergencies. The interest has been reported each year on line 4 of Part I.”

“This is an inactive savings account that is maintained as a hedge against financial emergencies”