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EACPR Finances FY 13-14 Forecast FY 14-15 Budget U. Landmesser, EACPR Treasurer.

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Presentation on theme: "EACPR Finances FY 13-14 Forecast FY 14-15 Budget U. Landmesser, EACPR Treasurer."— Presentation transcript:

1 EACPR Finances FY Forecast FY Budget U. Landmesser, EACPR Treasurer

2 Reminder: Budget matrix Non profit activities (Association Activities) Core scientific activities Surveys, Position papers… Profit activities (Commercial Activities) EACPR Product Offer: EuroPRevent Educational courses Online learning… Objective: finance non-profit activities Provide content Generate revenue Need to diversify sources of revenues and develop product portfolio! U. Landmesser, EACPR Treasurer

3 Fiscal Year st April st March 2014 Income: Sponsorship & Grants secured for Global CVD Activities Sponsorship & Grants from previous FY provisioned for the Prevention Implementation Programme and Guidelines Learning Tool. EJPC royalties Expenses: EuroPRevent 2013 : Financial Loss to be covered by EACPR budget Expenses re-assessed (ie, Winter Meeting budget & format) Cost containment reinforced  Budget reconciliation by ESC Accounting Department (April 2014)  End of FY Actuals will be available in June U. Landmesser, EACPR Treasurer

4 Fiscal Year st April st March 2014 EACPR BudgetFORECAST (K€)Comments (after Q1-Q2 Actuals) Sponsorship115.9 *sponsorship secured : Guidelines Learning Tool Prevention Implementation Programme Global CVD Activities Profit (Loss) sharing/royalties8 Grants / Donations9 Guidelines Learning Tool Journal profit/loss129 TOTAL INCOME262 TOTAL EXPENSES (€) Expenses were reduced Congress profit / loss-83.3 PROFIT/LOSS (€)-67.6 U. Landmesser, EACPR Treasurer

5 FY l Budget 1 April March 2015 Assumptions : Income Provisions from secured sponsorship will be allocated to this Fiscal Year: 33 K€ for the Prevention Implementation Programme III 87 K€ for the Guidelines Learning Tool 45 K€ for the Global CVD Activities. Assumptions for EJPC – EuroPRevent Profit/Loss The profit share for EuroPRevent 2014 was estimated to: 77 K€ - to be reassessed The profit share for EJPC is estimated to 113 K€ The Profit share for educational courses and textbook meetings is estimated to 5 K€ New sponsorship (to be secured) 342 K€ sponsorship remains to be secured. In the event that industry support cannot be secured, projects will not be conducted and the expenses will not be engaged. The following projects will require fundraising: Educational training fellowship programme 139K€ EXPERT Flowchart31 K€ Health Professional Toolkit (update & e-version)30 K€ CPX Poster 12 K€ GERAS trial 130 K€ U. Landmesser, EACPR Treasurer

6 FY l Budget 1 April March 2015 Assumptions : Expenses Cost containment will be observed for the Association operational expenses Based on the Executive Officers requirements, budgets for each committee should be at least break-even for the next FY. Temporary staff: A renewal of the Administrative Assistant CDD is requested to cover the period December 2013-December 2014 (related costs will be covered by the Global CVD activities and Guidelines Learning Tool sponsorship). It is expected that a new membership scheme and product offer will generate additional revenues on FY U. Landmesser, EACPR Treasurer

7 FY l Budget 1 April March 2015 Committee / Cost centre FY14-15 BUDGET (K€) IMPLEMENTATION CTTEE (K€) EDUCATION CTTEE (K€) GENERAL CVDGLOB (K€) GENERAL 0/NA (K€) SCIENTIFIC (K€) Grants and donations (secured) 87 Profit (loss) sharing and royalties 415 Sponsorship and advertising (secured) Sponsorship and advertising (to be secured) Congresses profit(loss) transfers / to be reassessed 77 Journals profit(loss) transfers113 TOTAL INCOME EXPENSES PROFIT / LOSS (after transfers) U. Landmesser, EACPR Treasurer Budget approved by ESC Board in March ESC Board asked all ESC Associations to present a new version for validation in June

8 Budget evolution U Landmesser, EACPR Treasurer

9 In Conclusion EACPR remains too congress centric in terms of revenues; the 2013 congress results and the losses forecasted for EuroPRevent 2014 prompt for an urgent assessment of the EuroPRevent business model for long-term sustainability.  Our Association needs to redefine its strategic plan and business model to diversify sources of income. U. Landmesser, EACPR Treasurer

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