/ Association of Healthcare Internal Auditors
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10200 W. 44th Avenue, Suite 304, Wheat Ridge, CO 80033

Memorandum

TO:Cavell Alexander

FROM:David Stumph

RE:March2013AHIA Financial Statements

DATE:March 16, 2013

CC: Bob Michalski, Joyce Lang, Heidi Crosby, andMichelle Cunningham

Attached are the AHIA financial statements for March2013. For purposes of this report, figures have been rounded to the nearest whole number.“Pace” referenced throughout this report is calculated to be 25% for the year, the 3rdmonth of the AHIA fiscal year.

Balance Sheet:

  • Total assets are $660,646compared to $649,784at this time last year.
  • Cash in checking is$192,505.
  • Total liabilities are $28,582.This includes deferred dues of $16,205collected belonging to 2014 and beyond, accounts payable of $1,318, and $9,700 in deferred exhibits and sponsorship revenue for the 2013 Annual Conference.
  • AHIA has one restricted fund, the Education Fund, which is holding steady at $26,307.

Profit & Loss Statement (P&L):

  • Income Highlights:
  • Total dues receipts throughMarchwere $159,224;244% of the YTD budget and 71.7% of the full year budget for dues. As noted previously, this is due to the portion of dues collected in 2012 belonging to 2013and recognized to the P&L in January.
  • Total YTD revenue is at 206.2% of the YTD budget, well ahead of pace, which is primarily attributable to recognizing the deferred dues from 2012 to 2013.
  • In addition to dues, the first in the series of webinars for the year is tracking well ahead of budget and has surpassed its projection by more than 2.5 times. The job bank is also tracking well ahead of projections.
  • There were no other significant revenue items to date to report.

  • Expense Highlights:
  • Total expenses are 47.7%ofthe YTD budget and 27% of the full year budget, slightly ahead of pacefor the year.
  • Governance – Board of Directors expenses are over budget YTD by 16.7% which relates to the January Board meeting in Chicago.
  • Total Publications Committee/New Perspectives is currently below pace at 7.4% of the full year budget. With the first issuance of the New Perspectivesoccurring in March, the publication costs will be reflected in the April statements.
  • Total administrative expenses are slightly ahead of pace by 2.6% YTD. This includes legal expenses for review of the editor’s agreement for New Perspectivesand bank charges related to credit card processing mostly related to dues payments that occur early in the year.
  • There were no other significant expense variances under ordinary expenses to report to date.
  • Investments:

There was a gain of $4,838in investments forMarch. The YTD gain remains strong at $12,442. We are projecting a strong gain for April investmentsassuming the markets remain fairly stable through the end of the month.

  • Surplus/Deficit/Comments:

The ordinary YTD net revenue is a gain of $89,042. Registration for the 2013 is now open. We will begin tracking registration trends in the next few weeks with hopes that Chicago along with great educational content will be a good draw for this year’s conference.

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