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Secretary/Treasurer’s Report AASHTO Annual Meeting 2011 Detroit, Michigan October 15, 2011
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Secretary/Treasurer’s Report Agenda Fiscal Year 2011 Financial Status Fiscal Year 2012 to date Discussion Sponsorship Highlights Special Assessment to Support Reauthorization
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Secretary/Treasurer’s Report Highlights from fiscal year 2011 results The auditors completed field work on September 28, 2011. The preliminary result shows that they will render an unqualified (clean) opinion. Overall: We ended the fiscal year in the black. We had a net income over expense of $1.95 million in technical services and AASHTOWare programs. The operating account finished the year $22 thousand above estimated income excluding the computer capitalization transfer. The auditors final report will be available later this year. We will submit the report to the Executive Committee and offer a conference call to discuss details.
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Secretary/Treasurer’s Report The Operating Account Investment income for the year was $2.76 million, substantially above estimated income budget amount. The value of investment increased by $3.08 million or 9% percent over the last fiscal year. Pension liability has decreased: from $12.2 million in FY 2010 to $5. 8 in FY 2011. This substantial change is due to valuation increase for investments and major changes in the pension plan as well as pay changes.
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Secretary/Treasurer’s Report Fiscal Year 2012 to date The overall position for operations, technical services and AASHTOWare remains well within the budget. First quarter investment income was $623 thousand on target with the budget, although we have seen a decline in valuation by $2.96 million.
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SPONSORSHIP HIGHLIGHTS FY 2010 Revenue Annual MeetingSpring MeetingLegislative Briefing Meeting Registration208,180133,55458,925 Trade Fair150,950 Sponsorship256,000189,500111,650 AttendeesCurrent average registration fee Registration fee without sponsorship Annual Meeting302$689$1,537 Spring Meeting214$624$1,510 Legislative Briefing137$430$1,245 FY 2011 Revenue Annual MeetingSpring MeetingLegislative Briefing Meeting Registration305,614138,70370,783 Trade Fair144,600 Sponsorship314,955213,42664,655 AttendeesCurrent average registration fee Registration fee without sponsorship Annual Meeting370$826$1,677 Spring Meeting321$432$1,097 Legislative Briefing181$391$748
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Funding at Current Rate We expect reauthorization to continue for the foreseeable future. We have a need to continue to finance a series of activities in support of reauthorization. Continue the dues amount at the same level as the last three years.
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Secretary/Treasurer’s Report Questions?
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