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2014 4th Quarter Financial Review Compiled by Glenn Davidson CFO-OnSite.

Published byLawrence Challenger Modified over 9 years ago

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Presentation on theme: "2014 4th Quarter Financial Review Compiled by Glenn Davidson CFO-OnSite."— Presentation transcript:

1 2014 4th Quarter Financial Review Compiled by Glenn Davidson CFO-OnSite

2 Revenue Contribution 2014 Sources of Revenue

3 2013 vs. 2014 Year to Date Revenue Comparison

4 Quarterly Revenue

5 Expense by quarter. Quarter to quarter 2013 vs. 2014

6 Quarter to Quarter Expense Detail

7

8

9

10 Professionals In Human Resources Association Statement of Profit and Loss For Month Ended November 30, 2013 Jan - Mar 13Apr - Jun 13Jul - Sep 13Oct - Nov 13TOTAL Ordinary Income/Expense Income 4100 · MEMBERSHIP & SHRM INCENTIVE373,245.0050,847.4051,070.007,835.00482,997.40 4200 · CONFERENCE271,642.55385,944.75339,520.701,533.00998,641.00 4300 · PROGRAMS & MEETINGS5,175.0024,730.3511,771.001,133.0042,809.35 4400 · LEGAL UPDATE264,207.05189.000.00 264,396.05 4500 · PRINT & WEB-BASED MARKETING16,019.0010,460.005,872.502,500.0034,851.50 4600 · OTHER INCOME23,125.3615,599.4319,616.6115,000.0073,341.40 Total Income953,413.96487,770.93427,850.8128,001.001,897,036.70 Gross Profit953,413.96487,770.93427,850.8128,001.001,897,036.70 Expense 5100 · Membership Expense4,837.494,103.662,317.861,247.4112,506.42 5200 · Conference Expense52,365.3185,855.22552,290.4852,774.42743,285.43 5300 · Programs & Meetings Expense0.005,673.614,429.578,455.0018,558.18 5400 · Legal Update Expense129,298.7718,920.230.00 148,219.00 5500 · Marketing Expense2,619.984,019.564,817.526,092.2817,549.34 6100 · PIHRA Home Office85,886.1863,334.7546,705.6056,651.13252,577.66 6500 · Personnel133,804.71128,074.44127,064.3384,880.21473,823.69 Total Expense408,812.44309,981.47737,625.36210,100.451,666,519.72 Net Income544,601.52177,789.46-309,774.55-182,099.45230,516.98

11 Professionals In Human Resources Association Statement of Profit and Loss For Month Ended November 30, 2014 Jan - Mar 14Apr - Jun 14Jul - Sep 14Oct - Nov 14TOTAL Ordinary Income/Expense Income 4100 · MEMBERSHIP & SHRM INCENTIVE330,170.4967,678.0049,983.000.00447,831.49 4200 · CONFERENCE212,637.00357,042.35499,616.057,819.251,077,114.65 4300 · PROGRAMS & MEETINGS14,039.0017,957.0032,537.121,157.0065,690.12 4400 · LEGAL UPDATE270,450.5579.00324.00-324.00270,529.55 4500 · PRINT & WEB-BASED MARKETING14,482.5011,512.755,167.505,825.0036,987.75 4600 · OTHER INCOME35,799.2720,421.3316,362.39-4,020.6068,562.39 4900 · Refund0.00 -409.500.00-409.50 Total Income877,578.81474,690.43603,580.5610,456.651,966,306.45 Gross Profit877,578.81474,690.43603,580.5610,456.651,966,306.45 Expense 5100 · Membership Expense3,000.004,756.9310,099.511,728.5019,584.94 5200 · Conference Expense37,354.1419,547.83675,365.8348,481.27780,749.07 5300 · Programs & Meetings Expense300.0014,187.414,711.139,262.9628,461.50 5400 · Legal Update Expense138,218.6618,535.410.0078.00156,832.07 5500 · Marketing Expense8,467.369,545.274,260.321,079.9623,352.91 6100 · PIHRA Home Office61,866.7973,017.55120,996.3762,926.32318,807.03 6500 · Personnel159,686.45136,274.30135,062.6678,051.89509,075.30 Net Ordinary Income468,685.41198,825.73-346,915.26-191,152.25129,443.63 Net Income468,685.41198,825.73-346,915.26-191,152.25129,443.63

12 Budget vs. Actual Professionals In Human Resources Association 2014 Operating Budget vs. Actual 2014 AnnualYTD ActualVariance REVENUES Budget Membership 559,100 447,831 (111,269) Annual Conference 1,294,219 1,077,115 (217,104) Programs and Meetings 84,127 65,690 (18,437) Legal Update 283,090 270,530 (12,560) Print & Web Based Marketing 35,000 36,988 1,988 Other 63,150 68,152 5,002 Total Revenue 2,318,686 1,966,306 (352,380) EXPENSES Membership Programs and Meetings 135,828 48,047 87,782 Annual Conference 865,697 780,749 84,948 Legal Update 178,510 156,832 21,678 Marketing 86,650 23,352 63,298 District Expenses - - - Operations 958,654 827,882 130,772 Total Expenses 2,225,339 1,836,862 (388,477) - Net Income 93,347 129,444 36,097

13 PIHRA 2014 Consolidated Balance Sheet Professionals In Human Resources Association Summary Balance Sheet As of November 30, 2014 ASSETS Current Assets Checking/Savings1,364,344.96 Accounts Receivable4,100.00 Other Current Assets103,643.99 Total Current Assets1,472,088.95 Fixed Assets4,674.00 Other Assets14,285.30 TOTAL ASSETS1,491,048.25 LIABILITIES & EQUITY Liabilities Current Liabilities218,735.52 Total Liabilities218,735.52 Equity1,272,312.73 TOTAL LIABILITIES & EQUITY1,491,048.25

14 PIHRA Q4 Financial Review SUMMARY Costs should remain below budget for the remainder of 2014. No long term debt (loans) on Balance Sheet. Low debt makes for stronger overall financial position. Cash reserves currently at 6 months. Opportunity remains to increase working capital through investing idle funds. Membership renewal in October/November (~ $98K – deferred to 2015 GAAP) and good beginning to participation in Legal Review (~71K Also deferred to 2015).

15 1) Dist funds for Officer awards and Holiday Gifts? 2) Dist use of funds for Board dinner. 3) Investment policy- firms (Fidelity, Merrill Lynch and Morgan Stanley)- 6 mo reserve, Dist idle funds 4) Accepting checks for Districts.

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