1. ACBL Board of Governors Financial Update
July 21, 2019

2. 2019 Operations Year-to-Date
Revenues
Up $204K versus budget
Regional table count 1.6% over budget
TD Session and Tournament Sanction Fees exceeded budget by 1.1% and 3.3%, respectively
Increase due to NABC ($54K) and bulletin sales/advertising ($68K) and sponsorship and Regionals at Sea ($22K) and Education programs ($18K)
Total TD Session and Tourn Sanction fees: $2.3M
34 more tournaments than budgeted
14 less sessions

3. 2019 Operations Year-to-Date
Expenses
$124K under budget
Lower IT costs ($96K)
Meeting Services $57K over budget
Includes $44K in NABC Memphis expenses
Field Operations $37K over budget
Executive expense $22K under budget due to open positions not filled until later in the year
Editorial costs up $18k was offset by revenue increase in bulletin

4. 2019 Operations Year-to-Date
Net Assets
Slightly higher revenues offset by slightly lower expenses
$572K positive change, $328K better than budgeted
Operations only.

5. 2019 Projections Revenues from operations $204K over budget
Increase in NABC events
Increase in bulletin & advertising
Continued flat Membership
NABC increase - $54K
Bulletin increase - $69K
Education programs increase - $18K

6. 2019 Projections Expenses from operations $29,000 over budget
Field operations over $33K
Tournament directors majority of overage
Continued lower IT costs ($96K under)

7. 2019 Projections Expenses (cont.)
Meeting Services $126K over budget
Memphis $44K over
Las Vegas estimated $70K over
Professional fees of $200K (not a budgeted item)
On-going litigation with estimated fees of $ K over insurance

8. 2019 Projections Net Assets Projected income from operations of $791K
4% more than budgeted

9. 2019 Capital Expenditures $230K approved budget $3K spent to date
$70K to replace ½ of HQ roof not started
$73K website costs for marketing
Several IT projects scheduled to begin before year-end

10. Balance Sheet
Combined Cash and Investments totaled $7.7MM, in-line with 2018
Net Assets increased $1MM since 12/31/2018
Net asset increase due to approx. $500k in gain on investments