CalCPA treasurer's report.A circle of success would be an apt description of the financial results of CalCPA for 2006-07. Our phenomenal membership growth (to more than 30,000 members) fueled an increase in dues revenues, greater participation at chapter events and more opportunities for sponsorship and publication revenue. CalCPA experienced a positive change in net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. of more than $2 million. [ILLUSTRATION OMITTED] Our expanded portfolio of investments resulted in greater investment income, while a well monitored investment policy steered us through stock market fluctuations. Meeting costs increased due to greater member participation and rising facility costs. The budget for 2007-08 was formulated for·mu·late tr.v. for·mu·lat·ed, for·mu·lat·ing, for·mu·lates 1. a. To state as or reduce to a formula. b. To express in systematic terms or concepts. c. with the expectation of continued increase in these costs. Due to our highly successful year, the CalCPA Council voted to add $1 million to the CalCPA Board designated building fund, bringing that total to $4.5 million. Our members also generously funded the next generation of CPAs through donations to the CalCPA Institute, a separate 501(c)(3) entity which supports our scholarship efforts and financial literacy Financial literacy is the ability of individuals to make appropriate decisions in managing their personal finances. Raising levels of financial literacy is now a focus of government programmes in countries including[1] Australia, Japan, the United States and the UK. programs. We distributed more than $305,000 in scholarships. We also delivered significant benefit to the public through our financial literacy outreach Outreach is an effort by an organization or group to connect its ideas or practices to the efforts of other organizations, groups, specific audiences or the general public. . The budget for 2007-08 maintains existing member service, while adding the Financial Leadership Forum, which is focused on our members in industry. The coming year also will include an event to recognize the contribution of women to the CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. profession; a repeat of our successful Young and Emerging CPA Conference; and our Financial Literacy Summit. With highly competent staff, tight budget controls, significant and generous volunteer commitment, well monitored investments and outreach to sponsors, we anticipate accomplishing all of our goals in the coming year. Katherine Katherine “intolerably curst and shrewd and froward.” [Br. Lit.: The Taming of the Shrew] See : Shrewishness T. Leonard, CPA |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion