The December 2023 ending balance for the 2023 budget was -$32,708.34. The negative balance reflects reduced revenue from membership and fewer manuscripts published that were subject to page charges during 2023. Revenues from the annual symposia sponsorship ($14,000), royalties from Elsevier ($22,437.77), and unrealized investment gains ($11,321.24) exceeded those budgeted. The symposium sponsorship supported the 2023 symposium as well as the Liver Abscess Special Issue published in July by Applied Animal Science. A donation to ARPAS in the amount of $10,000 was received, which also improved total revenue. Thank you to the donor for the gift in support of ARPAS. Total expenses for 2023 were less than budgeted ($375,385.41 versus $395,215.00). Reduced expenses were related to the journal and administration and governance. A summary of the final 2023 budget is presented below.
2023 Budget Summary
|
|
Actual
12/31/2023
|
Approved
2023 Budget
|
|
REVENUE AND SUPPORT
|
|
|
|
Membership Services
|
134,297.88
|
140,400.00
|
|
ARPAS Journal
|
168,779.95
|
181,300.00
|
|
ACAS
|
14,550.00
|
19,500.00
|
|
Other Revenue
|
25,049.24
|
7,500.00
|
|
TOTAL REVENUE
|
342,677.07
|
348,700.00
|
|
|
|
|
|
EXPENSES
|
|
|
|
Membership Services
|
15.950.03
|
12.270.00
|
|
Member Support
|
2,273.67
|
2,500.00
|
|
ACAS
|
783.51
|
3,870.00
|
|
ARPAS Journal
|
206,903.93
|
220,360.00
|
|
Annual Meeting
|
9,675.03
|
9,175.00
|
|
Admin. and Governance
|
139,799.24
|
146,610.00
|
|
TOTAL EXPENSES
|
375,385.41
|
395,215.00
|
|
|
|
|
|
NET CHANGE IN ASSETS
|
($32,708.34)
|
($46,515.00)
|
2024 Budget
The current budget has a balance of $31,645.51 as of June 30, 2024. Membership renewals (dues for regular, student, emeritus, and ACAS) total $81,647.50, only 70.8% of the $113,500 budgeted. If you or someone you know has not renewed their membership for 2024, please do so as soon as possible. Corporate and symposium sponsorship totals $35,000, so be sure to thank those sponsors for their support of ARPAS and the ARPAS symposium. Thanks to the positive stock market, we have had a gain on invested assets of $7,981.70 during the first six months of 2024. Expenses through the end of June total $161,206.74, which is 44% of that budgeted.
2024 Budget Summary
|
|
Actual
6/30/2024
|
Approved
2024 Budget
|
|
REVENUE AND SUPPORT
|
|
|
|
Membership Services
|
107,047.50
|
130,300.00
|
|
ARPAS Journal
|
66,265.61
|
166,300.00
|
|
ACAS
|
10,350.00
|
15,500.00
|
|
Other Revenue
|
9,189.14
|
4,000.00
|
|
TOTAL REVENUE
|
192,852.25
|
316,100.00
|
|
|
|
|
|
EXPENSES
|
|
|
|
Membership Services
|
1,290.00
|
13,500.00
|
|
Member Support
|
499.98
|
2,000.00
|
|
ACAS
|
29.08
|
3,795.00
|
|
ARPAS Journal
|
89,278.99
|
176,425.00
|
|
Annual Meeting
|
5,539.98
|
7,050.00
|
|
Admin. and Governance
|
64,568.71
|
161,514.00
|
|
TOTAL EXPENSES
|
161,206.74
|
364,284.00
|
|
|
|
|
|
NET CHANGE IN ASSETS
|
$31,645.51
|
($48,184.00)
|
Current ARPAS investments total $167,983.89 as of June 30, 2024. The investment consists of $25,301.89 in cash, $75,164.42 in equities, $53,811.42 in Fixed income and Preferreds, and $13,706.16 in Alternatives.