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Treasurer’s Report To NSPE Board of Directors & House of Delegates July 24 & 27, 2008

Treasurer’s Report To NSPE Board of Directors & House of Delegates July 24 & 27, 2008. Overview. Report looks at Operating Results for our fiscal year ended June 30, 2008 Report based on preliminary data, subject to final review & audit. Positive Results.

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Treasurer’s Report To NSPE Board of Directors & House of Delegates July 24 & 27, 2008

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  1. Treasurer’s ReportTo NSPE Board of Directors&House of DelegatesJuly 24 & 27, 2008

  2. Overview • Report looks at Operating Results for our fiscal year ended June 30, 2008 • Report based on preliminary data, subject to final review & audit

  3. Positive Results • On a consolidated basis, the Society achieved a net operating surplus of $307,511 • NICET achieved a substantial surplus of $291,304 • NSPE General Fund earned a modest surplus of $3,205

  4. NSPE General Fund Results • Substantial shortfalls in revenue, both dues and non-dues • Shortfalls offset by major expense savings • Following slides address the major components of our year-end operating results

  5. NSPE Operating ResultsThrough June 30, 2008

  6. Breakdown of Revenue(in millions)

  7. Dues Revenue • Dues revenue shortfall of $413,121 • Revenue and membership decline continue (membership is 12.5% lower than in 2003) • Earlier signs of a bottoming out in the decline were erased by very weak 4th quarter collections

  8. 5-Year Dues Revenue Trend Membership by Year • 2002/3 50,539 • 2003/4 48,047 • 2004/5 46,458 • 2005/6 45,549 • 2006/7 43,214 • 2007/8 41,844 • No changes to dues rates

  9. Non-Dues Revenue • A few clear successes for certain products or programs • Overall, a substantial shortfall from budgeted amounts • Once again, numbers turned negative in 4th quarter • Following charts provide more details on non-dues revenue.

  10. Non-Dues Revenue Components

  11. Non-Dues Revenue Programs Results for Top 5

  12. Expenses • Expenses were tightly controlled & closely monitored • Major cost savings in program expenses • Significant savings in staff & administrative costs, achieved mainly through downsizing • Following charts provide more detail on expenses

  13. NSPE Operating ExpenseThrough June 30, 2008

  14. Largest Program Savings • Tenant rentals (21-30-001) $31,700 • Governance (22-01-VAR) 34,700 • Licensure (32-01-var) 50,000 • Convention (32-03-021) 47,000 • PE Magazine (32-06-001) 84,200 • Recruitment (33-01-001) 69,400

  15. Capital Budget • 2007/2008 Budget $268,312 • Spent $703,123 • Variance ($434,811)

  16. Capital BudgetMajor Variances • Web Page Development (210,885) • I/T Infrastructure Upgrade (152,113) • NICET Fixed Assets (137,216)

  17. Budgets 2008/2009 • Operating Budget 2007/082008/09 • Revenue $7,265.9 $7,166.4 • Direct Expenses $3,214.8 $3,213.5 • Staff Costs Overhead $4,015.9 $3,952.9 • Capital Budget • 2007/08 Spent $703,123 • 2008/09 Budget $807,000

  18. Conclusion • We have not yet stopped the decline in membership and revenue that has persisted for many years. • The annual operating results were weaker than expected due to a very poor 4th quarter, reflecting the nation’s economic downturn. • We need to continue to focus on membership growth, while closely monitoring expenses

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