1. Deborah A. Jones-Buggs, CPA National Treasurer
FINANCIAL SUMMARY
Deborah A. Jones-Buggs, CPA
National Treasurer

2. Financial Summary Overview
Strategic Goal:
Develop a fiscal strategy to improve fiscal management, and opportunities for growth while providing comprehensive reporting to Grand Chapter and assistance to chapters.
Maintain financial stability
Manage and control expenses
Monitor and Reallocate Investments
Timely Complete External Audits
Report the Sorority’s Financial Status

3. Statement of Financial Position
Financial Summary Statement of Financial Position
“Maintain Financial Stability”
Statement of Financial Position
($ Millions)
3rd Quarter
3/31/2018
Total Assets
$34.8
Total Liabilities
$14.2
Net Assets
$20.5 o

4. Financial Summary Statement of Financial Position
Assets
3rd Quarter
3/31/2018
Cash/Cash Equivalents/Investments
$27,295,813
Accounts Receivable
473,066
Inventory
307,115
Prepaid Expenses
691,314
Fixed Assets
5,999,110
Total Assets
$34,

5. Financial Summary Statement of Financial Position
“Maintain Financial Stability”
($ Millions) FY
1st Quarter 9/30/2017
2nd Quarter
12/31/2017
3rd Quarter
3/31/2018
Total Assets
$36.4
$27.4
$25.5
$34.8
-$9M
-$2M
+$9M

6. Financial Summary Statement of Financial Position
Liabilities
3rd Quarter
3/31/2018
Accounts Payable
$ 2,862,682
Accrued Liabilities
234,176
Deferred Revenue
6,806,071
Note Payable (Mortgage on 1711)
1,835,476
Line of Credit
2,500,000
Total Liabilities
$ 14,238,405

7. Financial Summary Line of credit
Cash Flow Projections
($ Millions)
Cash November 2017
$1.5
Expenses
$6.1
Estimated Cash Needs through February 2018
$4.6
Transfer from Investments
$2.0
Line of Credit
$2.5
Estimated FY Dues & Fees through February 2018
$175K

8. Financial Summary Statement of Financial Position
“Maintain Financial Stability”
($ Millions) FY
1st Quarter 9/30/2017
2nd Quarter
12/31/2017
3rd Quarter
3/31/2018
Total Liabilities
$20.0M
$ 5.2
$ 7.2
$14.2
-$15
+$2
+$7

9. Statement of Activities
Financial Summary Statement of Activities & Change in Net Assets
“Manage and Control Expenses”
($ Millions)
Statement of Activities
3rd Quarter
3/31/2018
Total Revenue
$21.5
Total Expenses
$17.4
Change in Net Assets
$ 4.1

10. Financial Summary Statement of Activities & Change in Net Assets
Revenue
3rd Quarter
3/31/2018
Convention/Conference Revenue
$ 9,357,401
Membership Dues/Fees/Insurance
7,659,265
Membership Intake
889,780
Government Grant/Donated Facilities
745,644
Investment Income (Unrealized)
943,371
Capital Campaign
927,590
Other
1,057,042
Total Revenue
$ 21,580,093

11. Financial Summary
Membership status

12. Financial Summary
Bonding Insurance
Old Policy
New Policy
Coverage Limit
$5,000 increments by position
$100,000 Per Claim
Who is Covered
Fiscal Officers
All Members*
Amount Due
Min. of $20 per position
$60 Per Chapter
Effective July 1, 2018
*The policy that only fiscal officers receives/disburses funds remains. a

13. Financial Summary Statement of Activities & Change in Net Assets
Expenses
3rd Quarter
3/31/2018
Headquarters Operations/Chapter Admin
$7,605,341
National Convention
9,801,160
Total Expenses
$17,406,501

14. Financial Summary Expense management
Expense Reduction Measures:
Reduced Legal Fees
Reduced National Exec. Board/National Committee Expenses
Essential Hiring Only/Revised Bonus Plan
Restricted Spending-Reviewed/Re-negotiated Contracts
Controlling Regional Conference Expenses

15. Financial Summary Registered Delegates (As of 6/26/2018)
2018 Regional Conference
Registered Delegates (As of 6/26/2018)
*Excluding Staff & Comps
Increased Revenue/Rebates
Increased Variable Expenses
Food & Beverage
Security
Conference Bags/Gifts
Space Rental
Shuttle Service
AV/Decorating/Staging CE EA FW MW SA SO SW
Total
ACTUAL*
538
2,158
947
2,049
2,955
4,366
1,912
14,925
BUDGET
388
1,581
1,049
1,744
3,057
1,549
11,526
CAPACITY
600
3400
1,122
2100
2,800
4,452
2,092
16,799

16. Financial Summary Expense management
Outstanding Obligations
($ Millions)
March 31, 2018
Pension Liability
$2.4
Mortgage on 1711
$1.8
Renovations for 1711
2.0
Line of Credit*
2.5
Total
$8.7
6.2M----
*Line of Credit Paid May 23, 2018

17. Financial Summary Investments
“Monitor and Reallocate Investments”

18. Bank of America Investments
Financial Summary Investments
“Monitor and Reallocate Investments”
Bank of America Investments
($ Millions)
Per Capita Funds (As of March 2018)
$ 9.3
Unrestricted Total Investment Value
6.3
Total Investment Value
$15.6

19. Financial Summary External Audit
“Timely Completion of External Audit”
Audit Completed in November 2017
Group 990 filed November 14, 2017
Grand Chapter 990 filed December 13, 2017

20. “Report the Sorority’s Financial Status”
Financial Summary financial reports
“Report the Sorority’s Financial Status”
Constitution & Bylaws, Article V, Section 5, it is the duty of the National Treasurer to provide a quarterly financial report to the National Executive Board and Grand Chapter.
1st Quarter: October 13, 2017
2nd Quarter: January 30, 2018
3rd Quarter: May 23, 2018
4th Quarter: August 2018

21. THANK YOU! Beverly E. Smith, National President
Doreen A. Dixon, MS, RIA, Chair, National Finance Committee
National Finance Committee
Barbara L. Bagneris, MBA
Victoria I. Brown,
Pamela R. Hill
Helen Hill-Neely
Katrina M. Hubbard, MS, M.Ed
Sylvia Quinton
Juliet K. Williams, CPA
Gwendolyn Dailey, Director of Finance
Crystal Mitchell, Coordinator of Finance