Treasurer’s Report - June 2009

By Reva Tisdale, CPA, CPM
Reva.tisdale@tax.idaho.gov

Financially this has been a very challenging year due to the unknown effect economic conditions would have on the Academy’s budget. We closed out 2009 financials with a loss of $3,768 the majority of which can be attributed to the annual conference. Nonetheless, 2008 cash carryover and reductions in 2009 expenditures such as board travel resulted in a $6,070.61 balance in the checking account.

The Academy advanced $8,000 plus $542 to the Florida conference committee. When all expenses are accounted for and the bank account is closed, the committee expects to return $3,800 to the Academy. The Alabama Society sent the Academy $1,202.94 after requesting inactivation.

The accounting firm of Stanton & Company PLLC in Boise, Idaho, will review the 2009 financial records. Completion of this review and tax returns in May 2010 is anticipated.

Membership was approximately 150 under 2008 figures. Of the 150, about 100 can be tracked to Florida’s method of reporting two- and three-year memberships in advance. These multi-year dues were paid and accounted for in years prior to 2009 and thus were not included in the Florida’s 2009 membership numbers. Additionally, the Alabama Society went into inactive status in 2009.

This year the Ways and Means Committee pre-ordered shirts. This approach was well received by members. We also purchased a new inventory item, a 2gb flash drive bearing the Academy’s brand. Older merchandise was sold at a deep discount. After the 2009 conference, we included the remaining inventory in the flag shipment to Oklahoma for the 2010 conference. We donated 34 pins and 34 flash drives for the Orientation Committee’s presentation to first-time conference participants. We also donated 16 cups as gifts to presenters. Thanks to members who purchased merchandise using the Amazon link on the Academy website, $138.70 was generated this year. We broke even on the sales of merchandise purchased.

© Copyright 2009, American Academy of Certified Public Managers®