February 2004
Since the October 2003 Board of Governors meeting we’ve:
1. Posted on the NSS Financial Information page for down-load:
a. EC proposed NSS FY04-05 budget
b. Summary of Total NSS Finances Over Time
c. Summary of NSS Operating Finances Over Time.
d. Detail of NSS Operating Expenses Over Time
e. NSS Membership Dues Revenue Over Time
f. NSS Bookstore Sales Over Time
g. Recent detailed monthly expense reports
2. Submitted request for extension for our FY02-03 NSS federal tax return. New due date is March 15, 2004.
3. Working on our FY02-03 final fiscal report.
4. Seeking liability insurance for NSS general liability, property, NSS conventions and NCRC training courses. Our prior carriers declined to renew our policies. The current NSS general liability policy ends March 31.
The FY04-05 budget proposed by the EC assumes:
§ the decreasing regular membership trend will continue
§ the low bookstore net sales will continue because we don't expect the new books to pull in enough revenue on top of expected decreasing sales for current inventory
§ the NSS will enter an agreement with NCKRI to jointly publish the Journal and share its cost
§ the budget for travel and the contribution to the Endowment Fund is reduced compared to what the Board has indicated is desired.
The EC does not support a dues increase. We have been losing regular members for over a year and a dues increase may not increase revenue. It will likely hurt our regular membership. However it should be recognized that at the U.S. Consumer Price Index rate of inflation since we adopted our $33 rate our dues should now be $3.
See the NSS Financial Information page for membership trends. Both Regular membership and Associate membership have been steadily decreasing since the General dues category was initiated. In their place General membership is increasing. Yet our total membership has not grown. It appears that the General membership category has caused cave divers and other regular members to take advantage of the cheaper membership rate with fewer services.
See the NSS Financial Information page for a report of bookstore sales revenue over time. NSS bookstore profit has been less in recent years than it has been in the past.
Also on the web is an executive summary of NSS operations and restricted fund financial activity combined. All of the numbers in this report were taken directly from the final NSS final fiscal reports that provide the details.
Great Expectation status report:
The Executive Committee decided the 2004 Convention auction proceeds will be allocated to the Great X Fund (65%) and Education Fund (35%).
The National Park Service awarded the NSS a $30K grant for Mammoth Cave restoration over the next five years. But now we have to file an additional form with the government to actually get the money. They don't send the money automatically. Rick Williams is the new MCNP Cooperative Agreement Treasurer.
We sent 1099s to every one we paid in 2003.
Stephanie Searles works almost full time performing NSS accounting and fiscal functions. Dave Irving helps Stephanie reconcile LedgerMaster accounting at the end of each month and develops fiscal reports. Ted Kayes prepares the NSS budget working with the officers. Kevin Smith serves as a consultant for our audit and tax return preparation effort. I lead all of the Department’s efforts and participate in all of the above activities and more.
Secretary-Treasurer - Paul Stevens
Chief Accounting Officer - David Irving (Finance
Committee)
NSS Budget - Ted Kayes (Finance Committee)
NSS Audit and tax return – Kevin Smith (Finance
Committee)
NSS Restricted Funds Accounting – Nancie Carrigan (Finance
Committee)
NSS Operations Manger – Stephanie Searles
Insurance Committee - Ted Kayes (Chairman)
Personal Property Committee - Vacant
2003 NSS Convention Treasurer – Amy Ponsetti
2004 NSS Convention Treasurer – Martina Golden
NSS Convention Bank Account Reconciler – Peggy Kesner
MCNP Cooperative Agreement Treasurer - Rick Williams
MCNP Cooperative Agreement Bank Account Reconciler - Marilyn
Walker
Caves & Karst Education Program Treasurer – Peggy
Kesner
Caves & Karst Education Program Bank Account Reconciler
– Cheryl Jones
NCRC Financial Officer – Berta Kirchman [Bank Account
Reconciler]
NCRC Northeast Region Financial Officer – John Evans
NCRC Eastern Region Financial Officer – Steve Myers
NCRC Central Region Financial Officer – Anmar Mirza
NCRC Pacific Northwest Region Financial Officer – John W.
Punches
NCRC Western Region Financial Officer – Mark Bowers
NCRC 2004 Seminar – Kathy Welling
NCRC 2003 Seminar – John Punches
NSS News Ad Treasurer - Bert Ashbrook
NSS News Ad Bank Account Reconciler – Nancie Carrigan
Fine Arts Salon Treasurer – Wm Shrewberry
Fine Arts Salon Bank Account Reconciler – Marian McConnell
Junior Speleological Society Treasurer – Rick Bowersox
Junior Speleological Society Bank Account Reconciler – Ted
Kayes
Corporate Bank Account Reconciler – Dave Irving
NSS Office Bank Account Reconciler – Nancie Carrigan
Credit Card Account Reconciler – Ted Kayes
Payroll Bank Account Reconciler – Nancie Carrigan
Restricted Fund Accounts Reconciler – Nancie Carrigan
Our priority between now and the next Board meeting will be to continue to process our financial transactions in a timely manner and provide timely reports. Other tasks include:
1. File our FY02-03 federal tax return.
2. Obtain independent professional certification that our FY02-03 accounting records conform to Generally Accepted Accounting Practices and properly state our finances.
Paul Stevens
NSS Secretary/Treasurer
2-23-04