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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.

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

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  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.

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