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ACBL Board of Governors Financial Update - July 21, 2019

Get the latest financial update from the ACBL Board of Governors. Discover year-to-date revenues, expenses, net assets, projections, capital expenditures, and more.

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ACBL Board of Governors Financial Update - July 21, 2019

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  1. ACBL Board of GovernorsFinancial Update July 21, 2019

  2. 2019 Operations Year-to-Date • Revenues • Up $204K versus budget • Regional table count 1.6% over budget • TD Session and Tournament Sanction Fees exceeded budget by 1.1% and 3.3%, respectively

  3. 2019 OperationsYear-to-Date • Expenses • $124K under budget • Lower IT costs ($96K) • Meeting Services $57K over budget • Includes $44K in NABC Memphis expenses • Field Operations $37K over budget

  4. 2019 OperationsYear-to-Date • Net Assets • Slightly higher revenues offset by slightly lower expenses • $572K positive change, $328K better than budgeted

  5. 2019 Projections • Revenues from operations • $204K over budget • Increase in NABC events • Increase in bulletin & advertising • Continued flat Membership

  6. 2019 Projections • Expenses from operations • $29,000 over budget • Field operations over $33K • Tournament directors majority of overage • Continued lower IT costs ($96K under)

  7. 2019 Projections • Expenses (cont.) • Meeting Services $126K over budget • Memphis $44K over • Las Vegas estimated $70K over • Professional fees of $200K (not a budgeted item) • On-going litigation with estimated fees of $200-300K over insurance

  8. 2019 Projections • Net Assets • Projected income from operations of $791K • 4% more than budgeted

  9. 2019 Capital Expenditures • $230K approved budget • $3K spent to date • $70K to replace ½ of HQ roof not started • $73K website costs for marketing • Several IT projects scheduled to begin before year-end

  10. Balance Sheet • Combined Cash and Investments totaled $7.7MM, in-line with 2018 • Net Assets increased $1MM since 12/31/2018

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