Treasurer’s Report

By Larry Gordon
larry.gordon@phoenix.gov

The FY 2007 closeout reports were presented and accepted (pending independent auditors review) by the Board-of-Directors at its annual meeting in February. For the fourth consecutive year, the AACPM annual financial records will be reviewed by the accounting firm of Holcomb & Shreeves, CPA’s, in Gilbert, Arizona. Tax filings for non-profits are due to the IRS on the 15th day of the fifth month that follows the end of their fiscal year. AACPM works on a calendar fiscal year, therefore, May 15th becomes the deadline for its tax filings. The auditors review is scheduled to begin in April and should be completed by the middle of May. The CPA firm will also prepare the Academy’s 2007 tax return.

During 2007, three Member Societies did not report any members and one did not pay its annual assessment fee. Revenues did not meet projections and expenditures exceeded the budget by 40+%. The additional costs were attributed to the purchase of a one-year subscription to The Public Manager magazine for each Academy member; the purchase of AACPM logo luggage grippers that were distributed for each Academy member during the annual conference in Madison, Wisconsin; and higher than projected Board travel costs. The revenue shortfall was supplemented by transferring funds from a temporarily restricted reserve CD set aside for operational needs.

Budget overruns and adjustments are addressed in SOP Section 7.00. "The budget as approved by the House of Delegates during its Annual Meeting is a working document outlining a plan for the receipt and expenditures of funds sometimes many months before the actual budget term begins. The Board is responsible for remaining with the ‘spirit’ of the approved budget, but also has the authority to approve line item overruns and make other adjustments as needed during the course of the budget cycle. All changes to the budget will be fully documented in the minutes of the Board Meetings."

The Academy’s FY 2008 HOD approved budget is set at $32,575.00. The Year-to-Date revenues and expenditures are $4,251.46 and $5,709.94, respectively. Board travel for its annual meeting was less than the previous year due to two Board members receiving financial support from their organizations.

We are asking all treasurers (when submitting dues and membership rosters) to please follow the membership list format that has been distributed on CD to all Member Societies. Annual state assessments and membership dues are due by March 31, 2008.

Last year, AACPM received $219.21 in referral fees for those members using the Academy link to Amazon.com for their Internet purchases. This represents an increase of 138% over the previous year. Imagine the total if we all would use the link button located near the bottom of the www.cpmacademy.org home page. This is a great opportunity to help raise funds for the Academy.

Please feel free to contact me if you have any questions. I can be reached at any of the following numbers: telephone (602) 261-8581; fax (602) 261-8166; email larry.gordon@phoenix.gov; or mail PO Box 1012, Phoenix, AZ  85001.

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