The ATA Chronicle - July/August 2017 - 8

TREASURER'S REPORT continued
depreciation. Total assets improved by
33%, rising from $1,944k to $2,578k.
Our current liabilities posted a minor
increase of just over 2%. These liabilities
consist almost entirely of unearned dues.
Deferred rent, the only non-current
liability, rose 167% (from $43k to $113k)
due to an early renewal of the lease and
the related carryover of deferred rent from
the previous lease.
Our net assets (equity) increased by
33%, from $1,944k to $2,578k. (See the
two statements at the end of this report on
page 9 for more details.)

MAJOR PROGRAM RESULTS

Figure 3: Major program results for the period from July 1, 2016 through February 28, 2017
Of the next three largest program
expense items, Certification expenses
remained almost unchanged at $202k,
and Chronicle expenses declined almost
6% compared to the previous year.
Membership Services posted a slight
increase in costs, from $166k last year to
$174k as of the end of February.
Divisions expenses were up 6%,
from $77k to $82k, and Professional
Development expenses increased very
slightly (from $36k to $38k) due to more
webinars. Publications expenses saw a
negligible 2% drop, from $60k to $59k.
Total expenses for support services,
which are the overhead expenses that
are not allocated to a specific program,
decreased by 10% to $407k (previous
year: $454k). While some individual
items saw significant changes in
percentage terms, the amounts are not
material in absolute terms. General and
Administrative expenses posted a 25%
decrease, primarily due to a shifting of
resources among programs resulting in
a higher allocation to program services
8

The ATA Chronicle | July/August 2017

expenses (less unallocated overhead).
Public Relations (PR) and marketing
posted a 31% decrease year-on-year due
to higher expenses incurred last year as
the PR program was reinvigorated and
due to initial expenses for PR and speaker
training. Officers and Directors expenses
fell very slightly, from $53k to $52k.
Volunteers and Governance expenses posted
a 7% decrease, from $16k to $15k.

ASSETS, LIABILITIES, AND NET ASSETS
Our Statement of Position (balance
sheet) as of February 28, 2017, also
shows positive development. With respect
to assets, our balance of cash and cash
equivalents is up 30% year-on-year to
$1,941k, compared to $1,470k. We have
accounts receivable of $41k (previous
year: $0). Prepaid expenses declined yearon-year from $42k to $39k.
Our investment funds saw a 59%
increase to $524k, following the
investment of excess cash, while our
net property and equipment assets
declined (from $137k to $99k) due to

The overall trend for the first eight
months of the fiscal year remains positive
and encouraging. (See Figure 3.)
The Membership program has a net
surplus of $1,062k year-to-date. The
Annual Conference shows a net profit
of $170k.
The "subsidized" programs continue to
show progress as planned. Certification has
a current net loss of $75k. The Chronicle's
deficit is $160k. Divisions posted a deficit
of $82k. Professional Development's net loss
year-to-date stands at $21k, and the net
loss on Publications is $55k.
Dues Increase: Based on the Bureau of
Labor Statistics data for the CPI-U as
of March 31, 2017, and in accordance
with the Dues Policy adopted in 2015,
there will be an automatic dues increase
of $5.00 for an individual membership
effective for 2018.
Investments: The Finance and Audit
Committee approved the investment of
$300k from our balance. In addition,
the position in two mutual funds was
closed and replaced by similar exchange
traded funds.

LOOKING FORWARD
The net profit from the Annual
Conference and the continuing positive
development with respect to the
deficits incurred in the "subsidized"
programs are very encouraging. Absent
unforeseen negative developments, I see
no reason why the Association should
not close out the current fiscal year in
the black once more.
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