December 27, 2024
2024 Treasurer's Report
The 2024 fiscal year ending August 31, 2024 closed with a surplus of $682,466. This was on par with 2023, but for different reasons.
All departments showed growth in revenue and net income with the exception of membership and administration.
Membership has declined again for the second year, decreasing from 3,121 to 2,899 members. A new database, streamlined renewal process and active recruitment and retention campaign will hopefully slow the decline and bring our membership totals back up. Administration costs have increased as we have added staff in key areas to ensure we are able to efficiently and effectively service the needs of the organization and its members.
Offsetting these reduced profits is a higher return on investment from our operational portfolio. In 2023 we had unrealized investment losses of over $281,000. This year we had unrealized investment gains of over $279,000, an increase of over $560,000 from 2023.
Respectfully submitted,
Pam Cook
Treasurer 2023-2024
All departments showed growth in revenue and net income with the exception of membership and administration.
Membership has declined again for the second year, decreasing from 3,121 to 2,899 members. A new database, streamlined renewal process and active recruitment and retention campaign will hopefully slow the decline and bring our membership totals back up. Administration costs have increased as we have added staff in key areas to ensure we are able to efficiently and effectively service the needs of the organization and its members.
Offsetting these reduced profits is a higher return on investment from our operational portfolio. In 2023 we had unrealized investment losses of over $281,000. This year we had unrealized investment gains of over $279,000, an increase of over $560,000 from 2023.
Respectfully submitted,
Pam Cook
Treasurer 2023-2024