This report reflects financial information which was available on May 31, 2012. In general ARPAS continues on a very sound financial course with expenses being in check with revenues for the most part. The 2012 budget includes $145,600 of revenue from “Revenue and Support” which comprises about 56.7% of the total budgeted revenue of $256,600. In short, revenue from membership dues and from corporate sponsorships is incredibly important to the financial stability of the organization. As of May 31, membership dues received totaled $108,945, which is 93% of that budgeted for the year and compares with $115,755 received by the year’s end in 2011. Likewise, $17,578 has been received in corporate sponsorships, which is 84% of that budgeted for the year and compares with $20,135 received in 2011. We need everyone’s help to complete the 2012 membership campaign!
The Professional Animal Scientist (PAS)
represents the other major budget category on both the revenue and expense sides. The May 31st report showed PAS
revenues at $53,807 and expenses at $31,365. Snapshots of PAS
revenues and expenses are not entirely reflective of current financial performance; however there is a multiple-year track record for PAS
expenses to be in check with revenues.
It would be reasonable to project at this time that ARPAS will finish 2012 with a positive net change in assets. While membership revenues have lagged behind budget projections, there is optimism that membership revenue can be fortified thru the remainder of 2012. Also, it is important to note that total ARAPS expenses year-to-date are below budgeted projections. On the whole, ARPAS is operating well within its means.
ARPAS reserve funds held in our Morgan Stanley account equal approximately $222,000 which also approximately equals one full year of expenses for ARPAS. The Morgan Stanley account continues to be managed with approximately 75% of assets in fixed income and 25% of assets in equity investments. Returns on fixed income investments appear to return 6 to 7% annually. The equity investments are on the same roller coaster as everyone else’s! Unrealized investment gains stood at $5,827 on May 31st. There is a high level of confidence that ARPAS assets are secured in appropriate investment instruments.