1. Finance and Budget

2. FY 2013 Financial Audit FY 2013 Audit Completed in December 2013.
AACRAO received an “unmodified” (unqualified or clean) opinion.
Audit Committee Members from the Board – Brad Myers (chair), Melanie Gottlieb, Luisa Havens, Member-at-Large John Hall, Southern Methodist University

3. Statement of Financial Position

4. AACRAO Investment Funds As of September 30, 2013
Three funds to provide for future needs and for the long-term health and preservation of AACRAO.
Infrastructure Fund
$1,926,196
Strategic Initiatives and Investment Fund
Unrestricted Endowment Fund
$3,852,392
Total Fund Value
$7,704,784

5. Board Approved Dues Increase
AACRAO Bylaws:
“Dues: The Board of Directors through a Board Resolution, may approve a membership dues increase of no greater rate than the previous twelve‐month period’s Consumer Price Index, rounded to the nearest dollar.” (Article II, Section 1., c.)
The increase to the CPI in 2013 was 1.7%, hence an increase of $3 from the current rate of $206 per member to $209 per member.

6. Continued benefits to members…
A new online Registrar’s Self-Audit.
A new electronic SEM journal in partnership with Jossey-Bass.
Moving towards webinars as a member benefit rather than for a cost.
Expanding our international presence – viewed by the Board as an important growth area for the Association.
Software development in-house to improve user experience i.e. online bookstore etc.
Exploration of additional ways to share meeting content with those members not in attendance at meetings.
Increased use of task forces and workgroups to assist with profession initiatives.
AACRAO has not raised dues since Overall this increase will provide the Association with a more balanced and solid financial portfolio, allowing us to meet our strategic goals. The Board voted for this increase for several reasons, but the two most important are: 1. that association costs have risen in the last five years, and 2. because we have identified important strategic initiatives that will bring greater benefits to the membership. These include:
A new online Registrar’s Self-Audit (due for release in 2013).
A new electronic SEM journal in partnership with Jossey-Bass (recently released).
Moving towards webinars as a member benefit rather than for a cost.
Expanding our international presence – viewed by the Board as an important growth area for the Association.
Software development in-house to improve user experience i.e. online bookstore etc.
Exploration of additional ways to share meeting content with those members not in attendance at meetings.

7. Dues and Non-dues Revenue Comparison FY 2008-2013 Actual
FY 2014 Budget & FY 2015 Proposed Budget

8. Proposed Budget FY 2014-2015 FY 2013 Actual FY 2014 Approved FY 2015
Revenue
$9,296,146
$10,518,429
$10,913,078
Expense
$9,044,040
$10,234,999
$10,501,377
Net Operating Income
$252,106
$283,429
$411,701
Change in Net Assets
$746,072

9. Operating Revenue & Expenses FY 1992– 2013 Actual
FY 2014 Budget & FY 2015 Proposed Budget

10. Proposed Budget for Fiscal Year 2014-2015
To be approved at the Business Meeting at the Annual Meeting
Budget year begins October 1, 2014
Based on a projection for increased services to members and for increased revenue from AACRAO revenue lines

11. Questions?
For additional questions contact Stan DeMerritt Wayland Baptist University (806)