1 / 8

Secretary/Treasurer’s Report

Secretary/Treasurer’s Report. AASHTO Annual Meeting 2011 Detroit, Michigan October 15, 2011. Secretary/Treasurer’s Report. Agenda Fiscal Year 2011 Financial Status Fiscal Year 2012 to date Discussion Sponsorship Highlights Special Assessment to Support Reauthorization.

rosie
Télécharger la présentation

Secretary/Treasurer’s Report

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. Secretary/Treasurer’s Report AASHTO Annual Meeting 2011 Detroit, Michigan October 15, 2011

  2. Secretary/Treasurer’s Report • Agenda • Fiscal Year 2011 Financial Status • Fiscal Year 2012 to date • Discussion • Sponsorship Highlights • Special Assessment to Support Reauthorization

  3. Secretary/Treasurer’s Report • Highlights from fiscal year 2011 results • The auditors completed field work on September 28, 2011. The preliminary result shows that they will render an unqualified (clean) opinion. • Overall: We ended the fiscal year in the black. We had a net income over expense of $1.95 million in technical services and AASHTOWare programs . The operating account finished the year $22 thousand above estimated income excluding the computer capitalization transfer. • The auditors final report will be available later this year. We will submit the report to the Executive Committee and offer a conference call to discuss details.

  4. Secretary/Treasurer’s Report • The Operating Account • Investment income for the year was $2.76 million, substantially above estimated income budget amount. • The value of investment increased by $3.08 million or 9% percent over the last fiscal year. • Pension liability has decreased: from $12.2 million in FY 2010 to $5. 8 in FY 2011. This substantial change is due to valuation increase for investments and major changes in the pension plan as well as pay changes.

  5. Secretary/Treasurer’s Report • Fiscal Year 2012 to date • The overall position for operations, technical services and AASHTOWare remains well within the budget. • First quarter investment income was $623 thousand on target with the budget, although we have seen a decline in valuation by $2.96 million.

  6. SPONSORSHIP HIGHLIGHTS

  7. Funding at Current Rate • We expect reauthorization to continue for the foreseeable future. • We have a need to continue to finance a series of activities in support of reauthorization. • Continue the dues amount at the same level as the last three years.

  8. Secretary/Treasurer’s Report • Questions?

More Related