You may be aware we were recently contacted by a sponsor, and he was objecting to the NCA sponsorship amounts all being in USD. As you know, the exchange rate between the US and Canada (and the US and Mexico) has changed significantly, going from being close to at par to 70 cents to the dollar.
In the past we have used the logic that education expenses are tied closely to the US currency for purchasing books, supplies, etc. I don’t believe we really know that to be certain, but Mexican inflation does seem to follow the currency.
We are printing new brochures (they’re done), and wish to have these ready for the NCA Gala in February, so we need to get the printing process started before our next board meeting. I’m suggesting 4 possibilities for the way forward for sponsorship amounts, and would like you to cast your vote on your preference.
Option 1 would be to simply covert US to Pesos at the current exchange rate, so amounts would be:
- $1,850 Pesos elementary
- $3,700 grades 7-9
- $7400 grades 10-12
- $22,200 University
Option 2 would be to simply covert US to Pesos at the with a 20:1 rate (suggested by Doug). This seems where the exchange rate is heading:
- $2,000 Pesos elementary
- $4,000 grades 7-9
- $8,000 grades 10-12
- $24,000 University
Option 3 is to keep the current amounts in USD.
Option 4 is to stay in USD, but up the amounts by 25% (suggested by Bill).