ANA Board Approves Balanced Operating Budget
Coins911
Posts: 538
I just recieve this email from the ANA:
The budget, announced during the board’s Oct. 14 open session at the fall National Money ShowSM in Pittsburgh, proposes $5,966,833.54 in expenses while projecting revenues of $5,966,329.44 – a surplus of $504.10.
Does any one else see any issue with the above statement?
The budget, announced during the board’s Oct. 14 open session at the fall National Money ShowSM in Pittsburgh, proposes $5,966,833.54 in expenses while projecting revenues of $5,966,329.44 – a surplus of $504.10.
Does any one else see any issue with the above statement?
0
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What are they doing now, running for Congress?
there needs to be an investigation here!!11
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A corrected press release was sent out this morning.
Greg
<< <i>I just recieve this email from the ANA:
The budget, announced during the board’s Oct. 14 open session at the fall National Money ShowSM in Pittsburgh, proposes $5,966,833.54 in expenses while projecting revenues of $5,966,329.44 – a surplus of $504.10.
Does any one else see any issue with the above statement? >>
How much of the approved budget was for legal expenses? If it was high, say around 5%, why so much?
T.C.,
Looks to me (from the link that Greg provided), that the budget for legal fees is around 2.3% of revenue.
That okay with you?
Warmest regards,
Mike
<< <i>T.C.,
Looks to me (from the link that Greg provided), that the budget for legal fees is around 2.3% of revenue.
That okay with you?
>>
It seems high to me, but I am not an expert on non-profits. Thing to do is to compare to other non-profits w/a similar number of employees.
The more interesting number would be severance costs for all terminated employees. Public companies generally report an aggregate number. I doubt the ANA will publish anything.
<< <i>If people scrutinized coins as much, we might start having collective fun. >>
Someone at the ANA convention started talking about coins, and I had to chastise them for that
They were not properly focusing on politics and gossip.
<< <i>
<< <i>If people scrutinized coins as much, we might start having collective fun. >>
Someone at the ANA convention started talking about coins, and I had to chastise them for that
They were not properly focusing on politics and gossip. >>
<< <i>Throw the bums out!
da bums
<< <i>
<< <i>Throw the bums out!
da bums >>
Still, either way it's an essentially balanced budget, which is good. So, who do I send my thank you to?
Tom
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Obviously, some numbers will vary in comparison to estimates. If you look at the Financial reports section of the ANA website (link), you will see that for the first 3 quarters of the 2011 Fiscal Year, revenues were $534,000 higher than projected.
I am going to ensure End of Year numbers are posted this year.. something which has not happened in past years.
greg
Does it REALLY make sense to budget numbers all the way down to CENTS? I would suggest with a $6 million budget you budget to the nearest $1 thousand. Why? Because, when budget numbers are shown so exact, the perception by the reader is that they were developed with GREAT accuracy. While certain revenues and expenses may be accurately known a year in advance, most are approximations at best. The actuals should also be reported to the nearest thousand dollars. Of course, your ledgers would show the actuals to the nearest cent, but certainly only the internal auditors need to see that amount of detail. Have you or other members of the board discussed this? I know this is minor in the list of things, but as you see in this thread, people get confused when a lot of numbers are strung out and displayed. A little explanation of what the numbers for major revenues and expenses MEAN or REPRESENT would also be of interest to the membership in my opinion. Steve
My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry