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Treasurer´s Report

Treasurer´s Report. LESI Delegates Winter Meeting Rio de Janiero, Brazil April 2012. Balance Sheet. * As of the end February . P&L Statement. * As per December 31, 2011 ** See the final Financial Statement issued by Gelman, Rosenberg & Freedman on 8/12/11. Investments.

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Treasurer´s Report

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  1. Treasurer´s Report LESI Delegates Winter Meeting Rio de Janiero, Brazil April 2012

  2. Balance Sheet * As of the end February

  3. P&L Statement * As per December 31, 2011 ** See the final Financial Statement issued by Gelman, Rosenberg & Freedman on 8/12/11

  4. Investments $800,000 has been invested in the following insured CDs.

  5. 2012 Budget Highlights Operating Revenue down ~$31,000 Membership down slightly 12/31/10: 10,680 12/31/11: 10,323 2012 dues notices were sent January 31 17 societies have paid their dues in full. 13 societies have not paid their dues 2nd dues notice sent March 22 USA/Canada paid 25% of its total dues, and requested a quarterly payment schedule Board approved on a pilot basis for 2012

  6. 2012 Budget Highlights Expenses exceed revenue despite: $74,000 reduction in les Nouvelles expenses $55,000 reduction on web site expenses $125,000 of Committee requests not approved. Total Committee expenses budgeted to be close to 2011 budget total $72,000 increase for LESI Office support $70,000 transfer from reserves to make budget slightly positive ($2400)

  7. Options for improving LESI Financial Performance Revenue Generation • Increase number of members • Increase dues • Increase investment income • Increase surplus from Annual Conference • Increase IMDM registration fees • Create revenue streams from Education offerings • % of registration fees • Partial subsidy by local society

  8. Options for improving LESI Financial Performance Cost Reduction • Further reduction of les Nouvelles printing and shipping costs • Reduce IMDM meeting expenses • Reduce Directors’ budgets • Reduce trademark registrations further

  9. Questions?

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