The auditor says the club lost $21,000 last year (all of my numbers are rounded) but the club report says we lost $10,000 plus a loss of $6000 in inventory which is still only $16,000. Why the difference? It is also concerning that the club counted as income the $15000 in convention payments not returned to dealers which is money that will not be counted for the actual convention this year. What I mean is that if the money had been returned to the dealers the club would have lost an additional $15,000 - or am I missing something?

I am also curious why the club is no longer counting miscellaneous inventory as inventory. Things such as all of the convention materials used each year, chip and token donations to the club, the clubs slot machines, etc. This does not really affect our income but I think it is required to meet IRS reporting requirements when we file our annual taxes. I believe the IRS requires different accounting standards after an organization reaches a certain amount of total assets.

Lastly I was wondering what the MOGH expenses of $6400 in MISC and $3000 in equipment were spent on?