Finance Update Dave Goldberg – AESQ Finance Becky Lemon – SAE

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Presentation transcript:

Finance Update Dave Goldberg – AESQ Finance Becky Lemon – SAE December 4, 2017

SAE ITC Service Package 2017 Administration & Treasury Management Support (annual fee) $12,350 Technical Consultant Support (hourly fee; estimated range based on assumed number of hours plus travel) $13,273 Website Update / Maintenance (annual fee) $6,126 SAE ITC Insurance Package (annual fee) $15,315 SAE ITC Services Quote Total $47,575

2017 Membership Dues Collection 2017 Member Company Invoice Issued Invoice # Invoice Amount Invoice Paid 1 Arconic 2/5/2017 1130.14003.009 $8,000 2/17/2017 2 GE 11/29/2016 1130.14003.002 3/22/2017 3 GKN 1130.14003.003 2/19/2017 4 Honeywell 1130.14003.004 9/5/2017 5 MTU 1130.14003.005 1/12/2017 6 PCC 1130.14003.006 3/29/2017 7 Pratt & Whitney 1130.14003.007 1/10/2017 8 Rolls-Royce 1130.14003.008 2/24/2017 9 Safran 1130.14003.001 3/24/2017 $72,000

SAE : SAE Enterprise : SAE ITC : AESQ AESQ Income Statement 2017 SAE International SAE : SAE Enterprise : SAE ITC : AESQ Balance Sheet End of Oct 2017 Financial Row Amount ASSETS Current Assets Accounts Receivable 1120 - Intercompany Accounts Receivable 113904 - Intercompany Transfer - SAE/SAE Foundation $176.96 113908 - Intercompany Transfer - SAE ITC $57,006.82 113908 I/C - SAE - ITC - Subs I/C Receivable. ($17.76) Total - 1120 - Intercompany Accounts Receivable $57,166.02 Total Accounts Receivable Total Current Assets Other Assets 1600 - Fixed Assets 160310 - Software $20,000.00 162310 - Accum Depr - Software ($6,111.16) Total - 1600 - Fixed Assets $13,888.84 Total Other Assets Total ASSETS $71,054.86 LIABILITIES & EQUITY Current Liabilities Accounts Payable 2009 - Intercompany Accounts Payable 200908 - SAE - ITC - Subs I/C Payable. $22,566.31 Total - 2009 - Intercompany Accounts Payable Total Accounts Payable Other Current Liability 2100 - Accrued Expenses 210000 - Accrued Expenses $1,539.67 Total - 2100 - Accrued Expenses Total Other Current Liability Total Current Liabilities $24,105.98 Equity Retained Earnings $40,119.47 Net Income $6,829.41 Total Equity $46,948.88 Total LIABILITIES & EQUITY Key Points $72,000 collected in 2017 $40,119.47 rolled over from 2016 to 2017 (retained earnings) $34,599.71 cash available end October The $20k for the website appears on the Balance Sheet as a fixed asset. It is now starting to depreciate (show as an expense).

2018 AESQ Dues Collection

Questions?