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Finance and Budget

Finance and Budget. FY 2013 Financial Audit. FY 2013 Audit Completed in December 2013. AACRAO received an “unmodified” (unqualified or clean) opinion.

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Finance and Budget

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  1. Finance and Budget

  2. FY 2013 Financial Audit • FY 2013 Audit Completed in December 2013. • AACRAO received an “unmodified” (unqualified or clean) opinion. • Audit Committee Members from the Board – Brad Myers (chair), Melanie Gottlieb, Luisa Havens, Member-at-Large John Hall, Southern Methodist University

  3. Statement of Financial Position

  4. AACRAO Investment FundsAs of September 30, 2013 • Three funds to provide for future needs and for the long-term health and preservation of AACRAO. • Infrastructure Fund • $1,926,196 • Strategic Initiatives and Investment Fund • $1,926,196 • Unrestricted Endowment Fund • $3,852,392 • Total Fund Value • $7,704,784

  5. Board Approved Dues Increase • AACRAO Bylaws: • “Dues: The Board of Directors through a Board Resolution, may approve a membership dues increase of no greater rate than the previous twelve‐month period’s Consumer Price Index, rounded to the nearest dollar.” (Article II, Section 1., c.) • The increase to the CPI in 2013 was 1.7%, hence an increase of $3 from the current rate of $206 per member to $209 per member.

  6. Continued benefits to members… • A new online Registrar’s Self-Audit. • A new electronic SEM journal in partnership with Jossey-Bass. • Moving towards webinars as a member benefit rather than for a cost. • Expanding our international presence – viewed by the Board as an important growth area for the Association. • Software development in-house to improve user experience i.e. online bookstore etc. • Exploration of additional ways to share meeting content with those members not in attendance at meetings. • Increased use of task forces and workgroups to assist with profession initiatives.

  7. Dues and Non-dues Revenue ComparisonFY 2008-2013 Actual FY 2014 Budget & FY 2015 Proposed Budget

  8. Proposed Budget FY 2014-2015

  9. Operating Revenue & Expenses FY 1992– 2013 Actual FY 2014 Budget & FY 2015 Proposed Budget

  10. Proposed Budget for Fiscal Year 2014-2015 • To be approved at the Business Meeting at the Annual Meeting • Budget year begins October 1, 2014 • Based on a projection for increased services to members and for increased revenue from AACRAO revenue lines

  11. Approval of Budget Motion to approve the proposed Fiscal Year 2014-2015 Budget. This comes to the floor as a seconded motion from the Board of Directors

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