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Treasurer’s Report

Chad Hammerl, District Treasurer, Illinois Section

The end of the summer is a busy time for Midwestern District accounting as awards are given out and expenses related to the annual meeting come due. In 2018 The Midwestern District provided financial support to 14 student chapters, was a primary sponsor of the Student Leadership Forum, distributed three awards to our members, and provided scholarships for Midwestern District members selected for the Leadership ITE Program. The Midwestern District also provides financial support to the Local Arrangements Committee tasked with setting up contracts for future meetings.

2018 Budget
2018 Actual + Anticipated
Income
Expenses
Income
Expenses
$34,100
$37,193
$25,378
$39,647.28
Checking Account Balance $57,223.74 *Does not include funds held for MWITE Endowment Fund*

District finances remain strong despite the intended draw down in 2018. The draw down was planned because the last two District meetings in Madison and Chicago resulted in a surplus and because it was known that the District meeting in Minneapolis would not. District meetings are set up to break even, but a successful meeting can result in some surplus funds. The 2018 District Meeting was held in conjunction with the Annual Meeting, thus falls under the International ITE accounting. While it is wonderful for Midwestern District members to host the International Meeting in our District, financially the District needs to be strong to support being the host. Through years of hard work and diligent conference planning, we were in great position to host.

In 2018 the Board of Direction added sponsorship opportunities. These funds will be utilized to upgrade the website to be more interactive. Please check the website as improvements are being made.