Treasurer’s Report
ARPAS Governing Council
July 2013
Carl Hunt, PhD., PAS, Dipl. ACAN

This report reflects financial information which was available on May 31, 2013. Midyear is a reasonable time to take a snapshot of the revenues and expenses for the Professional Animal Scientist journal. As of May 31st, PAS revenues were $43,463 and expenses were $34,878. The PAS has a very good track record of meeting its own expenses with revenue, which is an important aspect of the financial stability of our organization as the journal represents about 36 percent of our annual budget.

The other “big ticket” item of our annual budget is Membership Services, which constitutes 54 percent of expected annual revenue. The two main items included in Membership Services are regular member dues and corporate sponsorships. As of May 31, membership dues received totaled $108,460, which is 93% of that budgeted for the year. Likewise, $20,500 has been received in corporate sponsorships, which is 98% of that budgeted for the year. With some effort to renew expired memberships, we should be on target with the membership and corporate sponsorship for the year. However, I feel that it is important at this time to focus on the trends for Membership Services revenue over the last 5 years. The table below shows a steady, and for some years a precipitous, decline in revenues from dues, sponsorship and total membership services since 2009. This trend has occurred despite what I feel has been proper diligence on the part of ARPAS leadership to secure annual renewal of these membership revenues. It is suggested that the ARPAS Governing Council consider a modest increase in regular membership dues to partially correct the reduce membership revenue.



General ARPAS and ARPAS Foundation reserve funds held in our Morgan Stanley accounts are currently valued at $223,700 and $110,900, respectively. The Morgan Stanley accounts continue to be managed with approximately 75% of assets in fixed income and 25% of assets in equity investments. Dividends and interest from fixed income holdings provide about $13,000 of income per year for the operating budget. Unrealized investment gains stood at $5,181 on May 31st but this gain is certainly subject to market volatility. There is a high level of confidence that ARPAS assets are secured in appropriate investment instruments.

In summary, ARPAS continues on a very sound financial course with the only recommendation being for the GC to consider strategies to stabilize membership revenue.

Respectfully submitted,

Carl Hunt, PhD., PAS, Dipl. ACAN