1 / 15

Treasurer’s Report To NSPE Board of Directors September 29, 2007

Item 7.1 Attachment – pt2. Treasurer’s Report To NSPE Board of Directors September 29, 2007. 3 Topics of Discussion. Final operating results for our fiscal year ended June 30, 2007 Early results for our current fiscal year Budgetary challenges in the new fiscal year. FY 06-07 Final Results.

rufin
Download Presentation

Treasurer’s Report To NSPE Board of Directors September 29, 2007

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Item 7.1 Attachment – pt2 Treasurer’s ReportTo NSPE Board of DirectorsSeptember 29, 2007

  2. 3 Topics of Discussion • Final operating results for our fiscal year ended June 30, 2007 • Early results for our current fiscal year • Budgetary challenges in the new fiscal year

  3. FY 06-07 Final Results • In line with preliminary estimates provided at our July meeting • Consolidated Surplus of $56,419 • NICET achieved a substantial surplus of $313,575 • NSPE General Fund incurred a deficit of $270,289

  4. NSPE Operating ResultsFY 2006/07

  5. FY 06-07 Results(Continued) • The NSPE operating deficit was the product of a shortfall in revenue • Dues revenue was $266,700 below budget • Dues revenue shortfall in our last fiscal year will have an impact on our current year, as we shall discuss later.

  6. Current Year Operations • Very early in year to identify trends • So, far expenses are in check and below budget pace • Revenue is also below budget pace • Next slide shows operating results through August 31st (16.7% of year completed)

  7. NSPE Operating ResultsThrough August 31, 2007

  8. Interim Operating Results • Clearly, our challenge in the current year is to attain—or exceed—our revenue goals. • Non-dues Revenue: some early positive trends • Dues Revenue: needs to be watched carefully

  9. Non-Dues Revenue ProgramsThrough August 31, 2007

  10. Non-Dues Revenue Programs(Continued) • Affinity card on budget pace • Tenant rentals slightly below pace. One suite vacant on 5th floor. Expect new lease soon. • EJCDC sales will improve with release of newly revised documents this year. • Job Board & Investments well above budget pace

  11. Dues Revenue • Budget Target is $3,882,000 • Revenue through August is $589,000 • Revenue currently 1.5% below budget pace. • Budget target is clearly a challenging one: • Target based on results thru 3rd quarter last year • Fourth quarter results fell short of expectations • Resulted in smaller than expected carry forward of deferred dues into our current year

  12. Dues Revenue(continued) • The challenge we have faced in meeting our dues revenue budgets in recent years is directly related to the decline in our membership. • The following 2 slides present some historical data on our membership totals.

  13. 5-Year Membership Trend(excluding student members) • Change by Year • 2004 -4.3% • 2005 -3.0% • 2006 -2.2% • 2007 -4.0%

  14. 4 Month Membership Trend(Increase of 1,373 Members—3.3%)

  15. Conclusion • Very early in our fiscal year to identify trends or make meaningful projections • Our major challenge is to grow our revenue streams: • Membership dues • Non-dues programs • We need to be cautious and control spending until we have a clearer view of the direction of membership.

More Related