michael h schneider
06-25-2001, 09:49 AM
From David Wood, NAWCC Treasurer
This is later than we report most months. Each year there is a delay before
we can produce the April report, while we finish reports for the year just
ended and set up the books for the new year. Now that we're restarted, the
May report should follow on a more normal schedule, toward the end of next
week.
The April net operating result was a positive $46 thousand. This was better
than budget of $19 thousand because reported expenses were mostly off to a
slow start. Member dues were slightly on the low side, and Museum and
Publications revenues were definitely below budget. Compensation and
benefits include one week paid last year but applicable to this year, and to
that extent are inconsistent with (and exceed) budget assumptions. School
expenses reflect a staff vacancy having been accommodated by use of
temporary faculty (professional services).
There have been no withdrawals from the investment accounts to pay operating
expenses. At the end of April, the gross liquidity reserve (investments less
loan balance) was $1.234 million, a modest increase over March.
There's a limit to what can be concluded from one month. Revenues are of
primary interest and have started out rather weakly. We already know that
May dues of $104 thousand were well below budget or last year, and that
Museum revenues remained weak. This pattern confirms the need for the budget
review and update by Council at its July meeting.
David Wood, NAWCC Treasurer
[email]davhalwood@prodigy.net[email]
Note: the pdf file with numbers and graphs is available from the NAWCC web site. Log into the eMART, scroll to bottom of the index and announcements page, click on "NAWCC Documents", click on "AprFin.PDF" http://www.nawcc.org/headquarters/members/emart.htm
This is later than we report most months. Each year there is a delay before
we can produce the April report, while we finish reports for the year just
ended and set up the books for the new year. Now that we're restarted, the
May report should follow on a more normal schedule, toward the end of next
week.
The April net operating result was a positive $46 thousand. This was better
than budget of $19 thousand because reported expenses were mostly off to a
slow start. Member dues were slightly on the low side, and Museum and
Publications revenues were definitely below budget. Compensation and
benefits include one week paid last year but applicable to this year, and to
that extent are inconsistent with (and exceed) budget assumptions. School
expenses reflect a staff vacancy having been accommodated by use of
temporary faculty (professional services).
There have been no withdrawals from the investment accounts to pay operating
expenses. At the end of April, the gross liquidity reserve (investments less
loan balance) was $1.234 million, a modest increase over March.
There's a limit to what can be concluded from one month. Revenues are of
primary interest and have started out rather weakly. We already know that
May dues of $104 thousand were well below budget or last year, and that
Museum revenues remained weak. This pattern confirms the need for the budget
review and update by Council at its July meeting.
David Wood, NAWCC Treasurer
[email]davhalwood@prodigy.net[email]
Note: the pdf file with numbers and graphs is available from the NAWCC web site. Log into the eMART, scroll to bottom of the index and announcements page, click on "NAWCC Documents", click on "AprFin.PDF" http://www.nawcc.org/headquarters/members/emart.htm