It has asked for advice from engineers, banks, lenders, lawyers and real estate appraisers while reviewing the condition of its buildings and viability of its programs and services. In a release, the YMCA said all efforts have been made to find efficiencies within the current operations. If no significant changes are made, the YMCA will become insolvent within 12 months. It’s also dealing with a projected negative cash flow of $1.95 million over the same period. It’s operating an annual deficit which is expected to be at $4.4 million over the next five years. Filing taxes electronically with the direct deposit option was also recommended as a means to a speedy return.The YMCA in Regina is facing serious financial troubles and could go under unless it makes some tough decisions. 1 to help reduce mistakes with ample time to compile all the documents.

Paying taxes right before they are due or in a rush can create errors and flag IRS scrutiny, according to the report. The report recommends an annual check-in to shop around for better deals on living and personal expenses for 2023. Keeping the bills as a status quo is not always the best approach to saving in the pocketbook, and the solution offered was to stay diligent and shop around. Putting expenses on 'autopilot' can cost individuals more, which goes for almost everything from energy, cell phone plans, cable and insurance. Shopping around for better prices on living expenses Local motorcycle club keeps the brotherhood alive with area veterans.

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An alternative option is to take the time to make phone calls to credit card holders and request a lowered interest rate.ĭebt counseling nonprofits can also help, and two entities were named in the report, including the Financial Counseling Association of America and the National Foundation for Credit Counseling. A solution offered in the report is to look for zero-balance transfer credit cards that will provide a timeframe to pay off the debt. Paying the minimum balance on credit cards will eat up cash flow, according to the report, adding that a financial plan is vital to get out of the minimum credit card payment loop.

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