sent to 69 people:
The financial picture presented at the SBOD Meeting on November 15th was extremely dismal. ABATE of Colorado is in a very serious financial situation. With training income diminishing this time of year, our cash flow is severely negative. Our current past-due bills, plus those that will become due in December, greatly exceed our liquid funds and accounts receivable. The Financial Oversight Committee has done everything possible to keep the doors open, but this requires the efforts of all ABATE of Colorado members and districts as, collectively, we are ABATE of Colorado.
Actions taken to date include Deb, Perrie, and Don voluntarily “laying themselves off” and then coming in to keep vital functions going on a volunteer basis. Bills are getting paid as money is available.
We discussed many options to increase our cash flow at the SBOD Meeting, such as: selling excess training bikes; raffling off bikes; posting bikes on Craig’s list; consigning bikes for sale in Colorado Springs; donations from members, sponsors, and other SMROs; and soliciting investments in a CD so we can secure a loan. While these are good ideas, none get us “immediate” help.
One way to help us pay our bills right now would be for each district to forward to the State account all but $50 or so of their district treasury. Please consider our dire need and give what you can. Keep in mind that districts do not exist without the state organization being viable.