Please find below a statement for financials from 2020-2021 with some additional notes:

SMH Financial Statement - 2020-2021

Notes for Financial Statements:

1. Profit is largely related to preseason camps and tryouts (approximately $25,000 profit), 50/50 profit ($26,000), and subsidies ($8,900).  The remainder was a result of less spending than in prior years as a result of Covid.
2. The Accounts receivable represent April 50/50 amounts from teams, as well as 50/50 carryforward for the 2021-2022 season.
3. Accounts payable is largely related to the April 50/50 Winner
4. Development includes those development costs not charged to teams (but rather comes out of registration funds).  This includes the App, development for IP and LTP, warehouse expense that could not be charged back to teams, etc.
5. Ice costs largely increased as a result of preseason camps and extending the season.
6. A large amount of the profit will be used this year to pay for the App (approx. $47,000) as we did not charge players for this with this year's registration, since they did not receive the APP last year but paid for it.
7. Another portion of the profit was recently used for new jerseys.