It is my pleasure to present this report on the financial status of ARPAS as of March 31, 2013; three month into our fiscal year. ARPAS continues on a healthy fiscal course. Year-to-date revenues from the Professional Animal Scientist exceed expenses by a comfortable margin. The other primary category of revenue for ARPAS is Membership Services which includes regular member dues and corporate sponsorship. To date revenues to our Membership Services lags behind our expectation as it stands at 88 percent our 2013 budget projection. This reduced membership revenue has become a trend over at least the last three years and the ARPAS Executive Council has attempted to contact those members who have unpaid dues for 2013. We understand that we currently have fewer animal science professionals throughout the various career fields than even just a few years ago, therefore we need your help to expand our membership. Please make certain that your 2013 dues have been paid and recruit a colleague to join our organization – certification exams can be arranged by contacting the ARPAS office.
Reserve funds for investment in both the ARPAS general account and the ARPAS Foundation account at Morgan Stanley are devoted approximately 75% for fixed income and 25% equity investments. Net portfolio values of assets in our Morgan Stanley accounts on March 31st were $312 K. This asset value remains approximately equal to our expenses for a one year period of time. After a sluggish investment climate over the last four years, it is a relief to report that our investments are reporting growth and healthy returns on asset value. I feel that ARPAS is blessed with a financial advisor who understands our investment goals and is able to make the most of our invested reserves.
In all, we are in a very good financial position and are poised to maintain and expand our missions.
Carl Hunt, Treasurer