It is December so it is time once again to provide you with a year-end financial report. This report reflects our financial status as of October 31st so the information will not quite represent the entire calendar year.
The organization continues to be on a solid financial foundation under very diligent executive leadership. As of October 31, our year-to-date revenues (not including unrealized gain on our investments) were $233,648.13 and expenses were $183,926.26. While we would expect proportionately more end-of-year expenses, I feel it is safe to predict that we will finish well within the black to provide for some addition to our current reserve. Our assets across all investments stands at about $340 K and our unrealized gain on October 31 was $12 K - but we know how that changes with the wind! Approximately 75 percent of our reserves are maintained in fixed income investments while the remaining 25 percent are in equities. Our fixed income investments seem to yield about 6% annually.
The PAS journal continues to be a self-sustaining activity for ARPAS. Year-to-date revenues exceed expenses by only about $3,000. Long-term, the PAS has met or just exceeded expenses, which indicates that our page charges for publications are at a proper and reasonable level.
As we come to the end of 2012, I want to encourage all ARPAS members to renew your membership for 2013. Regular, Student and Emeritus dues provided $114.4 K of revenue in 2012 which is about 50% of our operating funds (the other major source is revenue from PAS page charges). Your membership dues are most certainly needed to keep our organization strong. Please take the time to renew your membership and encourage other ARPAS members to do likewise! I would also like to recognize and thank all corporate sponsors who collectively provided just over $23 K in revenue in 2012 – thanks for your support.
In closing, it is a pleasure once again to provide you with a positive financial report. You can be proud that all of missions served by ARPAS are performed within our financial means.