2024 Budget
The November ending balance for the 2024 budget was −$63,987.32. The negative balance reflects reduced revenue primarily from lower membership and waived page charges. Regular, emeritus, and ACAS membership was 78%, 58%, and 74% of that budgeted. Revenues from the annual symposia sponsorship ($12,000) and returns on investments ($19,642) exceeded that budgeted. Total expenses through November for 2024 were less than budgeted ($351,954.94 versus $365,434.00). The total number of manuscripts submitted to Applied Animal Science increased from 54 in 2023 to 81 in 2024, resulting in greater FASS editorial service fees than those budgeted (additional details provided in the editor’s report). Other expenses were less compared to that budgeted. The ARPAS Foundation has discussed approving funds to partially offset the cost on implementing the Prolydian online exam system, but the board has not met to approve any funding as of today. A summary of the 2024 budget as of November 30, 2024, is presented below.
2024 Budget Summary
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Actual
11/30/2024
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Approved
2024 Budget
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REVENUE AND SUPPORT
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|
|
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Membership Services
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115,442.50
|
130,300.00
|
|
ARPAS Journal
|
138,136.11
|
166,300.00
|
|
ACAS
|
10,800.00
|
15,500.00
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|
Other Revenue
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23,589.01
|
4,000.00
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TOTAL REVENUE
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287,967.62
|
316,100.00
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|
|
|
|
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EXPENSES
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|
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Membership Services
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4,091.62
|
13,500.00
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Member Support
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916.63
|
2,000.00
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|
ACAS
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87.24
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3,795.00
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|
ARPAS Journal
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203,646.14
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176,425.00
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Annual Meeting
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7,669.49
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8,200.00
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Adm. and Governance
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1335,543.82
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161,514.00
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TOTAL EXPENSES
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351,954.94
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364,434.00
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|
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NET CHANGE IN ASSETS
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($63,987.32)
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($49,334.00)
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Current ARPAS investments total $182,243.76 as of November 30, 2024, compared with $159,035.99 on January 1, 2024. The investment consists of $26,394.64 in cash, $84,645.08 in equities, $55,526.04 in fixed income and preferreds, and $15,678.00 in alternatives. Our bank balance as of January 17, 2025, was $54,246.44.
2025 Proposed Budget
A summary of the proposed 2025 budget is provided in the following, and a copy of the detailed budget is attached. The proposed budget reflects the continuing trend of decreased membership revenue and a slight increase in expenses to reflect increased FASS editorial service fees resulting from increased submissions to Applied Animal Science. For 2025, the Elsevier contract provides a guarantee of $25,000 in royalties with a minimum of 60 manuscripts published and $60,180 for editorial support. Opportunities to improve the proposed budget balance are primarily related to increasing regular, emeritus, and ACAS membership renewals. No revenues for gain/loss on invested assets or unrealized investment gains/loss are included in the proposed budget.
2025 Proposed Budget Summary
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Proposed 2025 Budget
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Approved
2024 Budget
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|
REVENUE AND SUPPORT
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|
|
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Membership Services
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112,750.00
|
130,300.00
|
|
ARPAS Journal
|
165,480.00
|
166,300.00
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|
ACAS
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12,000.00
|
15,500.00
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|
Other Revenue
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4,000.00
|
4,000.00
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|
TOTAL REVENUE
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294,230.00
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316,100.00
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|
|
|
|
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EXPENSES
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|
|
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Membership Services
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13,600.00
|
13,500.00
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|
Member Support
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2,000.00
|
2,000.00
|
|
ACAS
|
2,795.00
|
3,795.00
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|
ARPAS Journal
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198,675.00
|
176,425.00
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|
Annual Meeting
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7,750.00
|
7,050.00
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|
Adm. and Governance
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151,500.00
|
161,514.00
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TOTAL EXPENSES
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376,320.00
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364,284.00
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|
|
|
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NET CHANGE IN ASSETS
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($82,090.00)
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($48,184.00)
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