I am happy to report that ARPAS is in sound financial condition, based on the most recent FASS financial reports dated July 31, 2017.

 As of the end of July, ARPAS income from regular member dues is at 98% of our budgeted expectations, with all member services (exams and other income) running at 87%. Income from the ARPAS journal appears to be running ahead of our budgeted expectations with 72% received through July (58% of the budgeted year). The American College of Animal Sciences (ACAS) dues and certifications are slightly ahead of budget expectations. Fortunately, total revenue and support is ahead of budget expectations for the fiscal year.

 The ARPAS expenses for member services, ACAS, and administrative costs are slightly below budget but within expectations for this time of year. Member support costs are in line with our budget. The ARPAS journal is just below budgeted expenses, but in line with budget projections. Annual meeting costs have been incurred at the time of this report and were below those of last year.

 The ARPAS general fund had a balance of $186,443, and the ARPAS Foundation balance was $194,433 at the last report dated July 31, 2017. Our foundation investments in Morgan Stanley continue to generate interest and dividends through the recent tumultuous stock market gyrations.